Mountain Protocol has integrated Chainlink’s cross-chain transfers technology. The cross-chain interoperability protocol, CCIP, will help USDM users transfer yield-bearing stablecoin across Ethereum, Base and other chains.

Mountain Protocol has announced that it will tap into oracle network Chainlink’s technology for cross-chain transfers of its yield-bearing stablecoin USDM. The USDM token is fully backed by US Treasuries. Mountain Protocol integrates CCIP According to a blog post, the integration involves Chainlink’s cross-chain interoperability protocol (CCIP). Mountain Protocol will leverage the standard for cross-chain  transfers of its stablecoin USDM across Ethereum, Optimism, Arbitrum, Base, and Polygon PoS. Users can use the Chainlink-powered XSwap bridge for these transfers.

Mountain Protocol launches USDM cross-chain native bridging with @chainlink's CCIP, simplifying transfers and unifying liquidity across multiple blockchains while ensuring security. You can now move your USDM across chains via https://t.co/KBqYH5C2dx or via @xswap_link's app.… pic.twitter.com/X1Kx0ctp6k — Mountain Protocol (@MountainUSDM) October 17, 2024

It’s the latest CCIP integration by a blockchain protocol, with users benefitting from simplified transfers, unified liquidity and security. Using CCIP for USDM transfers works by burning tokens on originating blockchain and minting new ones on the destination chain. This ensures supply consistency and transaction integrity, with users able to tap into the stablecoin for decentralised finance activities on any of the supported chains. Chainlink’s CCIP is key in the growing tokenized real-world assets market. Currently total RWA on-chain is over $13 billion, according to rwa.xyz. Meanwhile, the stablecoin market is around $171 billion, with USDM around  $55.5 million per rwa.xyz. The cross-chain interoperability protocol, alongside other services such as Proof of Reserve, Data Streams and Data Feeds are helping bring DeFi to more people through tokenized RWAs. Other than token transfers and DeFi, Chainlink’s CCIP has use cases across gaming, web3 usernames and liquidation protection.

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Worldcoin has rebranded to ‘World’ and introduced several new features to enhance its World ID. The project also announced the mainnet launch of its blockchain World Chain.

Worldcoin is now simply “World” after the blockchain-based identity verification project announced it’s rebranding on Oct. 17. Sam Altman and Alex Blania, co-founders of World, announced the name change during a company event in San Francisco. As well as the rebranding, the project unveiled several updates aimed at bringing ‘proof-of-humanity’ technology to more people. One of the key announcements is World’s unveiling of a new version of the biometric identification device the Orb. The company said the next-gen Orb is powered by NVIDIA’s latest Jetson chipset and offers as much as fivefold the AI performance of the previous version. World has also introduced World ID 3.0, an advanced version of World ID and designed to enable further verification across the globe. The World ID Credentials and Deep Face features enhance this capacity, allowing those with NFC-enabled passports to verify their identity via their devices.

The new World ID 3.0 features World ID Credentials, a way for even more people to participate in & benefit from World Network using things like an NFC-enabled passport. pic.twitter.com/sLGRCEzIiD — World (@worldcoin) October 17, 2024

According to details in the blog post, verified passport holders can claim the native cryptocurrency WLD even before fully verifying their ID via the Orb. World Chain mainnet launch Oct. 17 also saw World Chain, the layer-2 chain the World Foundation announced earlier in the year, launch its mainnet. Approximately 15 million people have migrated or are completing the migration to World Chain as of Thursday, October 17, 2024. World Chain is a blockchain network that will prioritise human activity and transactions over bots and launched with support from several crypto platforms, including Dune, Uniswap, Optimism, Alchemy, Safe and Etherscan.

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