Key facts
- Chainlink's CCIP attracted over $1.1 billion in token value this week.
- Virtuals Protocol, Pleasing Market, and Zest Protocol integrated with Chainlink's CCIP.
- Deel launched a USD-denominated stablecoin called DLUSD.
- Deel's stablecoin utilizes Stripe's crypto infrastructure.
- Defend Developers PAC is a new Political Action Committee focused on crypto developers.
- Sky launched a fixed-yield product on Pendle.
- Orbs launched its V5 upgrade on Ethereum and Arbitrum.
- Orbs V5 aims to improve cross-chain verification and lower infrastructure costs.
- Pendle's PENDLE token is now listed on Revolut.
- Pendle's listing on Revolut provides access to approximately 20 million traders.
Chainlink's Cross-Chain Interoperability Protocol (CCIP) has experienced a substantial surge, attracting over $1.1 billion in token value within a week. This growth is attributed to recent integrations with new protocols, including Virtuals Protocol, Pleasing Market, and Zest Protocol, underscoring a broader trend towards increased adoption of cross-chain messaging solutions.
In the stablecoin sector, global payroll platform Deel has introduced its own USD-denominated stablecoin, named DLUSD. This new stablecoin is powered by Stripe's crypto infrastructure and is designed to enable contractors to hold, earn rewards on, and spend funds directly within the Deel ecosystem. Concurrently, a new Political Action Committee (PAC) named Defend Developers PAC has entered the political funding arena. This PAC's objective is to provide support to lawmakers who champion legal protections for cryptocurrency developers, especially as election cycles approach. Sky, the entity behind the USDS stablecoin, has launched a new fixed-yield product on the Pendle platform. This product allows users to secure a predetermined rate of return until a specific maturity date by utilizing Pendle's yield-tokenization capabilities. The product is now operational. Furthermore, the Layer 3 blockchain infrastructure provider Orbs has released its V5 upgrade on both the Ethereum and Arbitrum networks. This upgrade is designed to improve cross-chain verification processes, decrease infrastructure expenses, and boost validator participation, ultimately benefiting more than 10 different blockchain networks.
Adding to the recent developments, the native token of the Pendle protocol, PENDLE, has been listed on Revolut. This listing grants access to approximately 20 million cryptocurrency traders across the United Kingdom and the European Economic Area, making Pendle available through Europe's largest fintech application. At the time of the announcement, PENDLE was trading at approximately $1.36.