Metis, the just lately surging Ethereum Layer 2, has teamed up with Chainlink to construct out cross-chain interoperability, whereas additionally embracing the booming staking sector.
Introduced on Feb. 29, Metis has built-in help for Chainlink’s cross-chain interoperability protocol (CCIP) as its canonical token bridge infrastructure.
The Metis bridge interface will combine help for CCIP as a part of the deal, unlocking new multi-chain utilities for the community. Metis will initially concentrate on bridging main stablecoins from the Ethereum mainnet, comparable to Ethena Labs’s yield-bearing eUSD token.
The mixing may also cut back the delay on transfers from Metis to Ethereum from seven days to “minutes,” and likewise allow programmable token transfers.
“By integrating CCIP because the official cross-chain protocol powering its canonical token bridge, Metis can securely interoperate with the multi-chain ecosystem, cut back cross-chain transaction occasions to Ethereum, and supply enhanced developer capabilities comparable to programmable token transfers,” Metis stated.
Chainlink’s CCIP has facilitated the switch of greater than $9.7 price of worth over time. CCIP’s Danger Administration Community additionally displays cross-chain transactions for nefarious exercise with a concentrate on malicious exploits.
The information follows a surge of progress for Metis, with the community’s complete worth locked (TVL) up greater than 800% at $921M from $100M in mid-December, in keeping with L2beat. The worth of its native METIS token can be up 354% at $113.5 over the identical interval, in keeping with CoinGecko.
Metis strikes to embrace restaking
Metis’ CCIP integration may also pave the way in which for the community to facilitate restaking, with EigenLayer, the pioneering Ethereum restaking protocol, set to roll out help for Metis throughout the subsequent couple of months.
EigenLayer permits Ethereum stakers to earn further yields by additionally securing third-party Actively Validated Providers (AVSs) whereas concurrently validating the Ethereum mainnet in a course of known as restaking. EigenLayer presently boasts a $9.8B TVL, in keeping with DeFi Llama, rating it because the third-largest DeFi protocol.
“Native and cross-chain staking on Metis will come first, adopted by twin staking with METIS,” an announcement from Metis stated. It added that EigenLayer will enable customers to restake EigenDA, its information availability AVS, utilizing the METIS token on Ethereum.
Liquid restaking on metis
Metis additionally introduced a forthcoming partnership with Renzo Finance to convey native staking onto the Metis community.
EigenLayer customers can both deposit liquid staking tokens to its capped swimming pools or deposit natively staked Ether with out restrict. Liquid restaking token (LRT) protocols enable customers to achieve publicity to native restaking via LRTs, permitting tokenholders to entry retaking yields with out locking up their belongings. LRT holders may use their tokens in DeFi or commerce them to bypass restaking withdrawal delays.
Metis customers will be capable of deposit ETH to Renzo through the forthcoming Restake From Wherever module from Connext, a cross-chain interoperability protocol, and obtain Renzo’s LST, ezETH.
