BetSwirl Integrates Chainlink CCIP To Unlock Cross-Chain Token Transfers

The era of secure blockchain interoperability has arrived.

We’re excited to announce that BetSwirl has integrated Chainlink CCIP — the industry standard for secure cross-chain interoperability — across the Avalanche, Ethereum, Polygon, and Arbitrum mainnets. We’re leveraging CCIP’s Simplified Token Transfer capabilities to help facilitate cross-chain access to tokens, enabling users to buy/sell tokens on multiple chains.

We selected CCIP as our go-to interoperability solution because Chainlink has a proven track record of maintaining the highest standard of security and reliability in the Web3 industry. Furthermore, CCIP is backed by the Risk Management Network — a separate, independent network that continually monitors and verifies cross-chain operations for suspicious activity. This additional layer of security is particularly important given historical industry exploits and the billions in user funds lost due to insecure and unreliable cross-chain infrastructure.

BetSwirl is a Web3 gaming platform that is deployed across multiple blockchains. In order to help expand token access for its users, BetSwirl is using CCIP to help enable users to buy/sell tokens on multiple chains, broadening its accessibility to more users and through more ways. Ultimately this can help reduce the slippage users pay when buying/selling BETS tokens, increasing the accuracy of their contracts for a greater predictability of their currency’s exchanges.

In order to help secure our cross-chain token transfers, we needed access to a highly secure and reliable interoperability solution. After reviewing various solutions, we integrated Chainlink CCIP because it provides a multitude of important benefits and features, such as:

• Time-tested security and reliability — CCIP’s consensus and interoperability layer is powered by Chainlink decentralized oracle networks, which have already secured tens of billions of dollars for smart contracts and enabled over $8 trillion in on-chain transaction value. CCIP also features additional layers of protection and reliability via the Risk Management Network and Smart Execution.
• Simplified Token Transfers — CCIP features a plug-n-play solution consisting of audited token pool contracts that handle the complexity of burning and minting or locking and minting tokens across chains. CCIP’s Simplified Token Transfers also have additional security features like Rate Limits, and enable ecosystem partners to easily build new capabilities around a supported token via a single CCIP interface.
• Flexible and programmable — CCIP messages are programmable, meaning token transfers and arbitrary data transfers can be one atomic transaction. This enables instructions to be passed in the data payload regarding what to do with the tokens once they arrive at the destination chain. CCIP also supports multiple token handling mechanisms on the source and destination chains (e.g., burn and mint, and lock and mint) to open up a wider range of use cases.
• Future-proof — CCIP is built to support continuous updates, such as the integration of new blockchains, the introduction of advanced functionalities, and the addition of other defense-in-depth approaches to security. Thus, integrating CCIP eliminates future switching costs should new cross-chain functionalities be required.

As CCIP is deployed across the Web3 ecosystem, we plan to expand our integration of Chainlink CCIP across more chains.

“We’re excited to integrate the industry-standard interoperability protocol, Chainlink CCIP. With access to secure, reliable, and seamless token transfers, we can better support the secure operation of our multi-chain gaming platform.” — Romuald Hog CEO

About Chainlink

Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About BetSwirl

• Bridge BETS with CCIP: https://app.betswirl.com/bridge
• Link3: https://link3.to/betswirl
• Twitter: https://twitter.com/betswirl
• Website: https://www.betswirl.com