Metis, the not too long ago 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 assist for Chainlink’s cross-chain interoperability protocol (CCIP) as its canonical token bridge infrastructure.
The Metis bridge interface will combine assist 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, corresponding to Ethena Labs’s yield-bearing eUSD token.
The combination may also cut back the delay on transfers from Metis to Ethereum from seven days to “minutes,” and in addition 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 corresponding to programmable token transfers,” Metis mentioned.
Chainlink’s CCIP has facilitated the switch of greater than $9.7 price of worth over time. CCIP’s Danger Administration Community additionally screens 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, based on L2beat. The value of its native METIS token can also be up 354% at $113.5 over the identical interval, based on CoinGecko.
Metis strikes to embrace restaking
Metis’ CCIP integration may also pave the best way for the community to facilitate restaking, with EigenLayer, the pioneering Ethereum restaking protocol, set to roll out assist for Metis inside 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 referred to as restaking. EigenLayer at the moment boasts a $9.8B TVL, based on 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 mentioned. It added that EigenLayer will enable customers to restake EigenDA, its knowledge availability AVS, utilizing the METIS token on Ethereum.
Liquid restaking on metis
Metis additionally introduced a forthcoming partnership with Renzo Finance to carry 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 by LRTs, permitting tokenholders to entry retaking yields with out locking up their property. LRT holders may use their tokens in DeFi or commerce them to bypass restaking withdrawal delays.
Metis customers will have the ability to deposit ETH to Renzo through the forthcoming Restake From Anyplace module from Connext, a cross-chain interoperability protocol, and obtain Renzo’s LST, ezETH.
