Michael Robinson ⬡
@77MichaelR
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Building @Chainlink | Sharing Web3 insights through infographics and threads *Opinions are my own
Joined December 2021
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If you still doubt onchain is the next online, you’re missing it.
Case in point – the DTCC’s SmartNAV.
A summary:
Chainlink announced an industry pilot with The DTCC and 10 of the world’s largest financial institutions leveraging Chainlink CCIP.
—
The DTCC is a massive
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11 Things you can build with the new
#Chainlink
Functions
1/
@OpenAI
API
Create a smart contract that asks an AI for a daily investment recommendation and then makes that trade.
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7 ways Chainlink CCIP will change the world
1/ Tokenized assets aka. RWAs (real-world assets)
Offchain assets → represented by tokens → seamlessly and securely exchanged across any blockchain
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7/ Interested and want to learn how to build your first dynamic NFT?
👇
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4/ The metadata of a dNFT representing your house can change to reflect maintenance history, past sales, and age.
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#Web3
has so much more to offer than centralized trading platforms like what was
#FTX
A simple explanation of the real big 3 of Web3:
#Bitcoin
#Ethereum
#Chainlink
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2/ The next step in the evolution of
#NFTs
is just getting started.
a dynamic NFT is an NFT that can change based on external conditions.
Changes to the NFT metadata are encoded in the smart contract that updates when predefined conditions are met.
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Chainlink is now so much more than just middleware.
Ready to supercharge the coming wave of Web3 apps, RWAs, and onboard traditional finance to blockchains.
New products launched this year on the
@chainlink
Platform:
1/ CCIP (Cross-Chain Interoperability Protocol)
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1/ Tokenization of real-world assets is a multi-trillion-dollar opportunity for
#Web3
And it's just getting started...
Making these assets programable is a key step to moving global trade to blockchains:
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Bitcoin Ethereum Chainlink. BEC.
The three most important technologies in blockchain.
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5/ Retail stores can build robust, automatically executing loyalty reward programs by leveraging
#Chainlink
services within dNFTs.
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How
#Chainlink
Keepers enables
#Web3
builders to automate smart contracts and expand dApp capabilities.
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6/
#BlockchainGaming
projects can create dNFTs representing in-game characters that automatically update.
Like when the player has logged a specific amount of time played or achieved other player progression milestones.
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3/ NFTs can be programmed in an infinite number of ways.
For example, your
#teslamodel3
from
@elonmusk
can be tokenized as a dNFT with metadata updated to reflect its service records, mileage, accident report, market value, and more.
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It's a packed house at the
@chainlink
event in Paris as
@kelmoujahid
takes the stage 👀
#LinkTheWorld
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Finally. Peace of mind cross-chain bridging.
Introducing Transporter…
Built to enable users to transfer tokens and crypto across a variety of blockchains, with many more to come.
Built in association with the Chainlink Foundation, with support from Chainlink Labs.
Built
We are excited to introduce
@transporter_io
, the next evolution in cross-chain bridging, powered by
#Chainlink
CCIP.
Transporter is your gateway to the multi-chain universe.
Cross chains with confidence:
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Chainlink Product Showcase | Q1 2024
• CCIP recap: GA launched – any dev can build with CCIP, Transporter bridging app launched, new token transfer mechanism enabling ETH launched, huge growth +4000% in cross-chain volume.
• Major integrations with Telefonica (Chainlink
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How
#Chainlink
solves the blockchain oracle problem, enabling hybrid smart contracts to power world-changing use cases like
#DeFi
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Do you have adequate reserves for your stablecoin or tokenized asset?
Prove it.
Even better, programmatically prove it – by restricting the minting smart contract to only mint new tokens when reserves are sufficient, like
#TUSD
did.
.
@tusdio
has integrated
#Chainlink
Proof of Reserve directly into the minting function for
#TUSD
, an industry-first for USD-collateralized stablecoins.
This marks a major milestone for
#stablecoin
transparency.
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The solution to this problem is
#Chainlink
data feeds.
Chainlink Data Feeds aggregate from multiple data sources across multiple nodes.
So there is no single point of failure.
The future of markets belongs onchain.
Blockchains + smart contracts + Chainlink
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Chainlink CCIP's innovative security design
Future-proof and secure enough to handle trillions+
1. Decentralization -- CCIP has 3 separate oracle networks responsible for confirming three separate aspects of all transactions.
2. Risk Management Network -- adds even more
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Chainlink has come a long way since 2019.
Look around the industry, and you'll see very few projects that have achieved a 5-year mainnet milestone while continuing towards a real objective and vision.
Congrats to Chainlink and the Chainlink Community.
5 years ago today,
#Chainlink
launched on mainnet.
From powering DeFi to working with the largest financial institutions across the globe, Chainlink has become the standard for connecting data and value onchain.
But this is only the beginning.
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Blockchains + Smart Contracts + Oracle Networks =
Onchain financial system
Bitcoin. Ethereum. Chainlink.
Three generations of innovation.
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It will be
#PoweredByChainlink
The history of value dates back to the origins of civilization.
6 milestones in the move from clay to cryptography 🧵
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Big shift.
The rabbit hole always starts with Bitcoin
then, Ethereum
then, Chainlink.
JUST IN: BlackRock CEO Larry Fink says he is a major believer in
#Bitcoin
after studying it.
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Looking forward to this Cross-Chain Interoperability Protocol (CCIP) deep dive.
CCIP is known for its defense-in-depth security -- which is critically important for our industry to onboard the next 100+ million active users.
Join us TOMORROW for a very special Chainlink Demo Day in the Optimism Discord at 4pm UTC.
You’ll hear from Michael Robinson of
@Chainlink
Labs about CCIP’s features, use cases, defense-in-depth security and the Risk Management Network.🫡
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Chainlink CCIP is the only standard that
solves the blockchain interoperability problem securely enough for TradFi's global adoption
“Chainlink's Cross-Chain Interoperability Protocol (CCIP) is a major innovation that has the potential to transform interoperability,” noted
@DeloitteFrance
in a new industry report exploring DLT and capital markets.
Already, CCIP is driving “the tokenization and migration of
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This is only the beginning for
#CCIP
.
Chainlink is working with
@swiftcommunity
and more than a dozen major financial institutions on experiments to enable connectivity to and interoperability across public and private blockchains:
These experiments are a significant step forward from the
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Chainlink CCIP is the standard for cross-chain communication
Enabling the cross-chain strategy for Aave's GHO stablecoin
-Enhanced accessibility and liquidity
-Improved user experience via faster txns & lower costs
-Increased utility via projects integrating GHO
Aave 🤝
The
@aave
community just voted in favor of integrating
#Chainlink
CCIP into their native stablecoin GHO for secure cross-chain transfers, beginning with an expansion to
@arbitrum
.
We're excited to support the cross-chain growth of the Aave protocol.
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Trillions
The opportunity in asset tokenization is unmatched: Hundreds of trillions in real-world value is ripe to come onchain.
At
@EthereumDenver
,
@chainlinklabs
'
@77MichaelR
was joined by
@circle
's
@shamu5noonan
to discuss the role Chainlink
#CCIP
plays in building a tokenized future.
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Chains continue to choose Chainlink CCIP as their canonical infra -- Metis, Wemix, and now Celo.
By using Chainlink CCIP users and developers alike benefit from
1) greater cross-chain security
2) elimination of fragmentation and liquidity challenges
3) introduction of greater
#Chainlink
SCALE partner
@Celo
has integrated Chainlink CCIP as its canonical cross-chain infrastructure.
See how Chainlink is accelerating innovation across Celo’s blockchain ecosystem:
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Today during Kemal's product keynote
-New product Chainlink Data Streams now live on mainnet
-Chainlink Automation 2.0 now live on mainnet
-Chainlink Functions Beta now live on mainnet
-80+ projects integrating Chainlink CCIP
-70+ BUILD members
-New Chainlink Developer Hub
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3/
@Spotify
API
Create a smart contract that pays the artist based on the # of song plays. No middlemen. Instant payment via stablecoin.
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2/
@Tesla
API
Create a Tesla rental smart contract.
The renter pays in stablecoins based on the miles traveled.
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I'll be presenting:
Chainlink CCIP: Unlocking the Full Potential of Tokenized Assets
🎤 SPEAKER ANNOUNCEMENT
🟣 We are THRILLED to welcome
@77MichaelR
from
@Chainlink
as an
#ETHDenver2024
speaker!
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New industry standards unlock waves of innovation
and enable disruptive business models
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Imagine assets limited to wealthy investors becoming available to anyone with an internet connection…
Blockchains can enable this.
1/ How to tokenize an asset (high-level explainer)
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4/
@zillow
API
Tokenize your house as a dynamic NFT. The NFT updates house details using Zillow data.
Use your house NFT in DeFi.
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Every tokenized asset and RWA will need interoperability, data, and compute.
Chainlink is the only platform in the industry that offers all 3 of these things out of the box.
The industry-standard for Developers, DeFi, and TradFi.
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#AI
like
#ChatGPT
will help on-ramp millions of builders and innovators to our industry 100x faster than before.
As a smart contract developer, you’ll explore ideas more quickly and build them more securely. Web2 devs (30M vs 100K Web3 devs) will ramp up in a heartbeat. Smart contract auditing, a huge bottleneck, will be 99% automated, making everyone in the industry more productive.
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5/ TikTok API
@tiktok_us
Create a smart contract so an advertiser can pay an influencer based on the exact views and likes they generate.
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People often debate "when will Web3 get the killer app?"
This is it.
A killer application is any app that is so necessary or desirable that it proves the core value of some larger technology (in our case blockchain).
Aave is it.
And it's so simple:
>Learn to self-custody
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Yesterday, the GHO stablecoin by
@aave
officially went cross-chain after integrating with the industry standard Chainlink CCIP.
This extends GHO’s reach and utility beyond Ethereum to the rest of the DeFi landscape, starting with Arbitrum and more to come.
1. GHO is issued on
Aave's cross-chain GHO is officially live,
#PoweredByChainlink
CCIP starting with
@arbitrum
mainnet.
The
@aave
DAO voted for this integration with 100% approval.
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Come talk
#CCIP
at the Chainlink booth, and try the demo
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10/
@FedEx
track API
Create a smart contract that transfers stablecoin payment when your package arrives on the other side of the globe.
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Security standards trusted by the world’s leading financial institutions, with an interface simple enough for any developer to integrate effortlessly.
Learn more about CCIP
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7/
@FortniteGame
,
@LeagueOfLegends
, or other MOBA games
Create a skin that’s a dynamic NFT. It updates based on player in-game stats.
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6/ Peloton API
@onepeloton
Create a smart contract that mints achievement NFTs based on the miles biked.
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Now is the best time to build and learn.
#Chainlink
Keepers will be core to the infrastructure of all advanced web3
#dApps
.
Learn how to harness the powers of smart contract automation.
Decentralized smart contract automation expands the
#dApp
design space and helps save critical developer time.
Learn how to automate your smart contract at this
#Chainlink
Keepers masterclass on 5/26, featuring a hands-on demo and an AMA with expert devs.
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1/ Every brand will need an
#NFT
strategy.
Similar to how every brand needed an internet strategy in the early 2000s.
Some ways top brands have experimented with NFTs:
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T-systems
@deutschetelekom
is one of the many high-quality nodes powering Chainlink Data Feeds.
Telecoms began providing infrastructure for telephony (telephone towers and masts).
Then Web2 infra (optic cables and data centers).
Now they support
#Web3
as node operators.
We're excited to partner with
@deutschetelekom
and
@TMobile
on T-Challenge
#3
.
Participants build next-gen
#Web3
technologies that will impact millions of 5G customers, competing to win up to €600,000 in prizes in the process.
Join the challenge:
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The Chainlink ecosystem and community is stronger than ever.
Thanks to everyone for all the great conversations.
Our Chainlink booth stood out as one of the top designs at
#ETHDenver
. A huge round of applause to the incredible
@Chainlink
events team for their outstanding effort. They have undoubtedly set a new standard for Chainlink booth experiences!
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2/ Banks
CCIP enables banks to access any public or private blockchain
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7/ But how do we know if a tokenized asset’s backing is legit?
We need a way to securely connect real-world asset data to blockchains.
#Chainlink
is a protocol that solves this problem.
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6/ Gaming
CCIP enables cross-chain gaming.
Play a game together, irrespective of the chain you are on.
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5/ NFTs
Cross-chain NFTs where you mint once, pay once, and own it everywhere.
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3/ Capital markets
CCIP will help transform Capital Markets, from the issuance of assets to clearing and settlements.
More cost-efficient
More secure
More transparent
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Today's
@UwU_Lend
hack leads to $19.4m loss.
The root cause is a price oracle issue. In particular, the sUSDe asset is priced as median from multiple sources. Five of them, i.e., FRAXUSDe, USDeUSDC, USDeDAI, USDecrvUSD, and GHOUSDe, were manipulated during the hack.
The stolen
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4/ DeFi
CCIP will bring offchain liquidity($$$) onchain and into DeFi.
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7/ DAOs (decentralized autonomous organizations)
Streamline processes for DAOs across any chain such as cross-chain governance.
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8/ Gold has been tokenized by
@cache_gold
They use
@Chainlink
to monitor physical gold reserves.
All data is transparently available on-chain.
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@veradittakit
@chainlink
"CCIP’s long-term vision is far beyond just ordinary DeFi, but also to act as a bridge between traditional financial institutions and DeFi projects."
offchain financial world <> CCIP <> DeFi
CCIP is the key ingredient to bring institutional capital onchain.
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9/ Learn more about tokenized gold
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@BNBCHAIN
@chainlink
#ChainlinkKeepers
are powered by time-tested node operators that secure billions in value.
A rotating node selection process prevents gas price auction wars and stabilizes costs.
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3/ What are the benefits of tokenizing something?
Anyone with an internet connection can now trade, lend, borrow, split up, and send these tokenized assets anywhere in the world, at any time, nearly instantly, for a low cost via blockchains.
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@chainlink
@elonmusk
Cryptographic Truth > Trust
What is cryptographic truth?
Information that’s more accessible, auditable, transparent, and tamper-proof -- using
#blockchain
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11/ Dive deeper into tokenized RWAs with
@ChainLinkGod
1/ Tokenized Real-World Assets (RWAs) is how
#DeFi
will scale to a global level
A 🧵 covering my thoughts on the opportunities and challenges this present
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@chainlink
@tusdio
@Poundtoken
@cache_gold
As institutional interest in real-world asset (
#RWAs
) tokenization grows, so will the demand for Proof of Reserve.
#TUSD
recently, and many others are setting the example.
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“It all starts with infrastructure"
#Chainlink
At
#ETHToronto
,
@MetisDAO
’s
@ElenaCryptoChic
and
@Natalia_Ameline
joined
@chainlinklabs
’
@77MichaelR
to examine how
#Metis
’
#Chainlink
integration helps scale
#web3
and streamline the creation of decentralized autonomous companies.
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6/ Other asset tokenization opportunities include anything with a data source:
-Commodities (gold, silver, oil)
-Stocks and bonds
-Private credit
-Real estate
-Art
-Carbon credits
...and more
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2/ Tokenizing real-world assets is the process of representing them on the blockchain as tokens.
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4/ This means -- better, cheaper, more transparent, and fair exchange of goods and services for the world.
Which is a $ trillion dollar market opportunity according to
@BCG
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This new Proof of Reserve standard helps lay the foundation.
To securely and transparently onboard trillions of dollars into
#blockchains
.
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5/ Don't forget to check your eligibility for Staking v0.2
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2/ CCIP is now GA (General Availability) meaning any dev can permissionlessly build cross-chain apps using CCIP.
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Join us live on Twitch to learn about
#Web3
gaming in Episode
#1
of
#ChainlinkPlays
@James__Lawton
is playing
@illuviumio
Overworld Beta
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