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You are here: Home / Archives for decentralized finance

decentralized finance

Ronin Network Completes Migration to Chainlink CCIP, Boosting Cross-Chain Security

April 26, 2025 by Sheila

  • Ronin completes migration to Chainlink CCIP, enhancing cross-chain security.
  • Over $450M in assets now bridge securely with Chainlink CCIP on the Ronin network.
  • Chainlink CCIP ensures secure token transfers for Ronin boosting decentralized finance.

The Ronin network completed its move to the Chainlink Cross-Chain Interoperability Protocol (CCIP) an advancement for its blockchain cross-chain infrastructure. The transitioning process completes a critical shift from the deprecated Ronin Bridge, which previously handled over $450 million in total value locked (TVL).  Secure token transfers between the blockchain and other blockchains are enhanced through the new CCIP system, providing users with improved security for bridging their assets.

Migration to Chainlink CCIP Ensures Unmatched Security

As part of this transition process, all tokens from the old Ronin Bridge are integrated into the new system that uses Chainlink’s CCIP infrastructure. The protocol depends on Chainlink’s decentralized oracle networks (DONs) to establish a consensus layer for validating every cross-chain transfer. Token transfers within such a decentralized structure benefit from enhanced security, which guards assets against security vulnerabilities common in traditional bridging systems.

Users can now utilize Chainlink’s CCIP to bridge a variety of tokens, including AXS, USDC, SLP, WETH, and WBTC, to and from the Ronin network.CCIP’s token transfer functionalities remain secure while remaining highly efficient with features that allow rate limit configuration and Smart Execution even under heavy network congestion. These upgrades reduce the risks of transaction failures offering users a more reliable and smoother experience.

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Source: Roninchain

Chainlink CCIP Powers Future Expansion of Ronin Ecosystem

Adopting the Chainlink CCIP bolsters the network development and scalability with its strategic move to support the ongoing development and scalability. The new infrastructure will help developers build cross-chain solutions that provide the necessary tools for creating decentralized applications (dApps) and gaming functions. Through this migration, the network creates potential connections to additional blockchains to offer access to decentralized finance (DeFi) and gaming platforms within their ecosystem.

Trung Nguyen, the CEO and Co-Founder of Sky Mavis, explains that the network transition to CCIP represents a critical advancement. He highlighted that it makes the network accessible and secure for gaming and consumer applications. Through CCIP, developers access a fast and secure cross-chain infrastructure that enables them to innovate and improve project scalability.

The discontinued Ronin Bridge no longer serves users, while the legacy bridge interface is available to complete pending withdrawal requests. The platform allows users to complete transactions and claim assets on Ethereum. The CCIP-powered Bridge app now fully operates, and users are encouraged to use it for all upcoming token exchanges.

Filed Under: News, Blockchain Tagged With: Blockchain, Chainlink CCIP, Cross-Chain Security, decentralized finance, Ronin Network

DeFi Dips 27% in Q1 While AI and Social dApps Fuel Web3 Surge – DappRadar Report

April 5, 2025 by Ebo Victor

  • Total Value Locked (TVL) in DeFi fell 27% to $156B, largely due to market instability and the $1.4B Bybit exploit.
  • AI & Social Surge: AI dApps grew 29% and social dApps rose 10%, showing user appetite for emerging use cases.
  • ETH dropped 45% in value, affecting DeFi platforms broadly, except for Berachain, which stood out as a rare exception.

The first quarter of 2025 revealed a mixed trend for Web3, as outlined in DappRadar’s latest report. While the DeFi sector struggled through economic turbulence and security breaches, other sectors like AI and social dApps showed promising growth. According to DappRadar’s Q1 2025 report, the decentralized app (dApp) industry saw mixed trends.

Consequently, the daily unique active wallets (dUAW) dropped slightly to 24 million, down 3% from the previous quarter. However, AI and social dApps gained momentum growth, with the reports showing AI dApps surging 29% QoQ to 2.6 million dUAW and social dApps growing 10% to 2.8 million dUAW. 

DeFi Stumbles While AI and Social dApps Thrive in Q1 2025

DeFi Dips 27 in Q1 While AI and Social dApps Fuel Web3 Surge
DeFi Dips 27% in Q1 While AI and Social dApps Fuel Web3 Surge – DappRadar Report 3

According to recent news, the dApp space held its ground in Q1 2025, even as activity cooled slightly. There was strong energy in the crypto world earlier, but things took a hit after Trump entered office, with market uncertainty pulling prices down. That dip usually means fewer people use dApps, but even with that, 24 million daily active wallets were recorded, just a 3% drop from the previous quarter.

Considering the broader economic pressures, this slight decline suggests that user interest in decentralized apps is still holding steady. On the other hand,  DeFi took a heavy blow and was caught in a financial storm. This was caused by the bigger economic uncertainty and the ripple effects of the major Bybit exploit, which pushed confidence and numbers down.

Total Value Locked (TVL) sank by 27%, landing at $156 billion. To make matters worse, Ethereum saw its value drop by 45%. Altogether, it was a tough quarter that reflected how quickly things can shift when trust and stability shake in the system. This downward trend swept through nearly all of the top 10 blockchains by TVL, except Berachain, which managed to buck the pattern.

Filed Under: News Tagged With: Blockchain trends, DappRadar, decentralized finance, DeFi, Social dApps, Total Value Locked (TVL), Web3

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