{"id":257236,"date":"2024-03-01T16:59:25","date_gmt":"2024-03-01T11:29:25","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=257236"},"modified":"2024-03-01T16:59:25","modified_gmt":"2024-03-01T11:29:25","slug":"metis-integrates-chainlinks-cross-chain-interoperability-protocol-amid-restaking-push-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/metis-integrates-chainlinks-cross-chain-interoperability-protocol-amid-restaking-push-crypto-news\/","title":{"rendered":"Metis Integrates Chainlink\u2019s Cross-Chain Interoperability Protocol Amid Restaking Push &#8211; Crypto News"},"content":{"rendered":"<div>\n<p>Metis, the recently surging Ethereum Layer 2, has teamed up with Chainlink to build out cross-chain interoperability, while also embracing the booming staking sector.<\/p>\n<p>Announced on Feb. 29, Metis has integrated support for Chainlink\u2019s cross-chain interoperability protocol (CCIP) as its canonical token bridge infrastructure.<\/p>\n<p>The Metis bridge interface will integrate support for CCIP as part of the deal, unlocking new multi-chain utilities for the network. Metis will initially focus on bridging leading stablecoins from the Ethereum mainnet, such as Ethena Labs\u2019s yield-bearing\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/ethena-stablecoin-s-27-yield-is-triggering-terra-induced-ptsd\"> <!-- -->eUSD<\/a>\u00a0token.<\/p>\n<p>The integration will also reduce the delay on transfers from Metis to Ethereum from seven days to \u201cminutes,\u201d and also enable programmable token transfers.<\/p>\n<p><!--$!--><!--\/$--><\/p>\n<p>\u201cBy integrating CCIP as the official cross-chain protocol powering its canonical token bridge, Metis can securely interoperate with the multi-chain ecosystem, reduce cross-chain transaction times to Ethereum, and provide enhanced developer capabilities such as programmable token transfers,\u201d Metis said.<\/p>\n<p>Chainlink\u2019s CCIP has facilitated the transfer of more than $9.7 worth of value over time. CCIP\u2019s Risk Management Network also monitors cross-chain transactions for nefarious activity with a focus on malicious exploits.<\/p>\n<p>The news follows a surge of growth for Metis, with the network\u2019s total value locked (TVL) up more than 800% at $921M from $100M in mid-December, according to L2beat. The price of its native METIS token is also up 354% at $113.5 over the same period, according to CoinGecko.<\/p>\n<h2>Metis moves to embrace restaking<\/h2>\n<p>Metis\u2019 CCIP integration will also pave the way for the network to facilitate restaking, with EigenLayer, the pioneering Ethereum restaking protocol, set to roll out support for Metis within the next couple of months.<\/p>\n<p>EigenLayer allows Ethereum stakers to earn additional yields by also securing third-party Actively Validated Services (AVSs) while simultaneously validating the Ethereum mainnet in a process called restaking. EigenLayer currently boasts a $9.8B TVL, according to DeFi Llama, ranking it as the third-largest DeFi protocol.<\/p>\n<p>\u201cNative and cross-chain staking on Metis will come first, followed by dual staking with METIS,\u201d an announcement from Metis said. It added that EigenLayer will allow users to restake EigenDA, its data availability AVS, using the METIS token on Ethereum.<\/p>\n<p><!--$--><\/p>\n<div class=\"relative flex items-center gap-2 rounded-md bg-[#191919] p-2 my-4 lg:hidden\">\n<div class=\"relative group  flex w-max items-center gap-2  p-2 text-sm text-white mx-auto\"><strong class=\"whitespace-nowrap w-min sm:w-auto bg-gradient-to-r from-[#9FF9D2] to-[#DB9FF9] bg-clip-text text-transparent\">DeFi Alpha<\/strong><span class=\"whitespace-nowrap  w-min sm:w-auto border-l border-white pl-1 lg:hidden\">Premium Content<\/span><\/p>\n<div class=\"tooltip font-heading shadow-cta absolute hidden lg:visible left-6 z-10 -top-[80px] w-max max-w-xs translate-y-full flex-col rounded-lg bg-[#EEEEF4] p-3 text-left text-xs text-black group-hover:flex lg:left-auto lg:right-4\">Looking for Alpha? Become a premium member of The Defiant and join our DeFi Alpha community.<\/p>\n<ul class=\"list-inside list-disc\">\n<li>DeFi Daily | Weekdays<\/li>\n<li>DeFi Alpha Letter | Weekly<\/li>\n<li>Defiant Podcast Transcript | Weekly<\/li>\n<li>Inbox Dump | Saturday<\/li>\n<li>Weekly Recap | Sunday<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/thedefiant.io\/go-premium#pricing\" class=\"disabled:bg-cta-disabled-background disabled:text-cta-disabled-text rounded font-semibold border-cta-primary-border bg-cta-primary-background text-cta-primary-text hover:border-cta-primary-border-hover hover:bg-cta-primary-background-hover ml-auto block p-2 text-center text-sm !text-black !no-underline shadow-newButton\">Start for free<\/a><\/div>\n<p><!--\/$--><\/p>\n<h2>Liquid restaking on metis<\/h2>\n<p>Metis also announced a forthcoming partnership with\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/binance-labs-invests-in-renzo-to-support-liquid-restaking-on-the-eigenlayer-ecosystem\"> <!-- -->Renzo Finance<\/a>\u00a0to bring native staking onto the Metis network.<\/p>\n<p>EigenLayer users can either deposit liquid staking tokens to its capped pools or deposit natively staked Ether without limit. Liquid restaking token (LRT) protocols allow users to gain exposure to native restaking through LRTs, allowing tokenholders to access retaking yields without locking up their assets. LRT holders can also use their tokens in DeFi or trade them to bypass restaking withdrawal delays.<\/p>\n<p>Metis users will be able to deposit ETH to Renzo via the forthcoming Restake From Anywhere module from Connext, a cross-chain interoperability protocol, and receive Renzo\u2019s LST,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/defi-alpha-eigenlayer-airdrop-strategy-restaking-with-renzo\"> <!-- -->ezETH<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Metis, the recently surging Ethereum Layer 2, has teamed up with Chainlink to build out cross-chain interoperability, while also embracing the booming staking sector. Announced on Feb. 29, Metis has integrated support for Chainlink\u2019s cross-chain interoperability protocol (CCIP) as its canonical token bridge infrastructure. The Metis bridge interface will integrate support for CCIP as part [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":257237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-257236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=257236"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257236\/revisions"}],"predecessor-version":[{"id":257239,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257236\/revisions\/257239"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/257237"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=257236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=257236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=257236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}