Welcome to Ronin, Chainlink!
Validators have voted for Chainlink’s CCIP to secure the Ronin Bridge ⚔️
Key Points
Today, Ronin Validators voted to adopt Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to serve as the network’s canonical cross-chain infrastructure. That means Chainlink will help secure the Ronin Bridge.
After a three-phase selection process, the Ronin Validator community voted to integrate Chainlink’s CCIP over alternative solutions from LayerZero and Axelar. Thank you to LayerZero and Axelar for participating in this process.
To users: no action is required on your end. Chainlink will start by supporting bridge transfers between Ethereum and Ronin. You can find the full CCIP proposal, including the asset migration plan, in the Ronin Discord.
Welcome to Ronin, Chainlink! Today, Ronin Validators voted to adopt Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to serve as the network’s canonical cross-chain infrastructure. This will significantly increase the security of assets bridged to the Ronin Network. Thank you to LayerZero and Axelar for participating in our decentralized selection process.
In August, we requested two external parties to audit the Ronin Bridge. This was motivated by our commitment to reinforce the overall security and accessibility of the Ronin ecosystem. The results of these audits led us to seek a specialized, established bridging solution. In September, the Ronin community began a three-phase request-for-proposal process involving three potential solution providers: LayerZero, Axelar, and Chainlink CCIP. In October, the final decision to integrate Chainlink’s CCIP was approved by the Ronin Validator community after a competitive vote. Chainlink won out with 10 votes, while LayerZero came in second with 3 votes, and Axelar third with 0 votes. Thank you to LayerZero and Axelar for participating in this decentralized vote.
For the migration plan, Ronin and Chainlink are committed to minimizing impact to users. This means that all existing tokens on Ronin will not need to undergo a user-triggered migration process, and no action is required from any token holders.
All assets bridged via the existing Ronin bridge will be upgraded to use CCIP for native cross-chain transfers, starting initially with support for transfers between Ethereum and the Ronin Network. The expectation is for the full migration to happen over the next 2-3 months. The full CCIP proposal, including the asset migration plan, can be read in the Ronin Discord.
What is Chainlink’s CCIP?
Chainlink’s industry-standard interoperability solution, CCIP, was selected to serve as Ronin’s canonical cross-chain infrastructure because the protocol offers the highest level of cross-chain security by utilizing multiple Decentralized Oracle Networks (DONs), an independent Risk Management Network, high-quality node operators, and additional security features such as rate limiting and timelocked upgrades. The Chainlink platform has successfully secured over $75 billion in DeFi TVL at its peak and enabled over $15 trillion in transactional value since the start of 2022 across 19+ blockchain networks.
Beyond cross-chain interoperability, the Chainlink platform also offers a wide range of offchain data and compute solutions, which can be made available based on the needs of the Ronin developer ecosystem. The adoption of these additional services within the Ronin ecosystem would introduce little-to-no additional trust assumptions or vendor risk given such services operate on the same battle-tested Chainlink platform.
Chainlink CCIP offers numerous essential benefits and features to developers in the Ronin ecosystem, including:
Defense-in-depth security—CCIP’s consensus layer is powered by Chainlink Decentralized Oracle Networks (DONs), infrastructure that has secured over $75 billion in DeFi TVL at its peak and enabled over $15 trillion in on-chain transaction value since the start of 2022. Each CCIP transfer is redundantly validated by multiple DONs, including an independent Risk Management Network that continuously monitors and validates the behavior of CCIP—a wholly unique concept in cross-chain interoperability that builds upon established engineering principles (N-version programming).
Secure Token Transfers—CCIP simplifies the process of transferring tokens cross-chain by providing audited token pool contracts that abstract away the complexity of cross-chain validation, without imposing vendor lock-in on token issuers. CCIP token transfers also feature additional security functions such as configurable rate limits and reliability features such as Smart Execution that help ensure reliable transaction execution on the destination chain, regardless of blockchain network congestion.
Arbitrary Messaging—CCIP empowers developers with the ability to create cross-chain native applications through the transfer of arbitrary data, encoded as bytes, between smart contracts on different blockchains. Cross-chain messaging enables numerous use cases from cross-chain NFT transfers to cross-chain lending use cases.
Programmable Token Transfers—CCIP enables the transfer of value (via tokens) cross-chain along with data instructions informing the receiving smart contract on what to do with those tokens once they arrive on the destination chain. Through cross-chain programmability, CCIP can condense a complex set of actions involving multiple users, blockchains, and assets down to a single atomic cross-chain instruction.
Extendable and future-proof—CCIP is built to be future-proof for developers, where future improvements can continue to be made, including the integration of new blockchain networks, the onboarding of additional tokens, and the incorporation of new defense-in-depth approaches to security.
The adoption of Chainlink CCIP as the Ronin Network’s canonical cross-chain infrastructure will ultimately increase the security of bridged assets on the Ronin Network, improve the user experience of accessing the multi-chain economy, and free up resources that can be used to accelerate the Ronin ecosystem’s adoption. In the coming months, Ronin will announce more about our expansion into the Defi space and further collaborations with Chainlink.
“Security was the number one most important factor when deciding which cross-chain protocol would secure the future of the Ronin ecosystem. Out of all the solutions available on market, adopting Chainlink CCIP as Ronin’s canonical cross-chain infrastructure was an obvious choice, given the protocol’s unparalleled security features and reliability track record. Beyond cross-chain interoperability, we are keen to work on integrating Chainlink’s suite of oracle services that will serve as an important foundation for the next phase of DeFi growth on Ronin.”
— Phuc Thai, Head Researcher at Sky Mavis.
“We are thrilled to see the Ronin ecosystem, a pioneer in blockchain gaming, adopt CCIP as their network’s canonical cross-chain infrastructure and improve the security of all bridged assets on the network. Secure interoperability powered by CCIP will empower the Ronin community to take full advantage of the multi-chain landscape and accelerate the adoption of Web3 gaming,”
— Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs.
About Chainlink
Chainlink is the universal platform for pioneering the future of global markets onchain. Chainlink has enabled over $15 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
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