Lendvest Integrates Chainlink CCIP To Support Cross-Chain Credit Score System

We’re excited to announce that Lendvest has integrated Chainlink CCIP — the industry standard for secure cross-chain interoperability — across the Avalanche and Ethereum mainnets. We’re leveraging CCIP’s arbitrary messaging functionality to help build a cross-chain credit score system in DeFi, enabling the low-cost transmission of credit score messages between Ethereum and Avalanche.

We are using CCIP as a cross-chain interoperability solution. 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.

Lendvest is a platform powering data for the emerging credit system in DeFi.

Currently, there is no established credit score framework that provides material benefits to crypto users. Lendvest aggregates on-chain data to create decentralized data feeds to form a verifiable credit score for DeFi protocols. By integrating Chainlink’s highly secure cross-chain infrastructure, we can provide our users with the ability to request credit scores on one chain and relay the results to another chain, helping to save costs through a seamless user experience.

In order to help secure our cross-chain credit score system, we needed access to a highly secure and reliable interoperability solution. 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 messaging 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.
• Seamless integration — CCIP offers a unified cross-chain developer experience by providing a single, easy-to-integrate interface. Developers only need to integrate the CCIP Router on-chain to start building secure cross-chain applications.
• Scalable architecture — CCIP eliminates the need for developers to write custom code for chain-specific integrations, while users can interact with any blockchain via a single interface.
• 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 with CCIP eliminates future switching costs should new cross-chain functionalities be needed.

As a member of the Chainlink BUILD program, we look forward to additional opportunities to leverage Chainlink’s industry-standard infrastructure.

“We’re excited to integrate Chainlink CCIP to unlock a seamless cross-chain credit score system for DeFi. Since CCIP is built on the same foundation as other Chainlink services, such as Chainlink Price Feeds, integrating with DeFi lending protocols will enhance these protocols without introducing any additional trust assumptions.” — Joshua Gottlieb, Co-Founder of Lendvest

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 Lendvest

Lendvest is aggregating on-chain lending data to create a verifiable credit score for DeFi protocols. Powered by Chainlink, Lendvest is becoming the most decentralized credit scoring protocol. This credit system would allow decentralized lending platforms to algorithmically gauge the risk profile of an individual user, resulting in higher risk-adjusted returns for the platform and optimal terms for the user.

Website: Lendvest.io

Twitter: @lendvest_io

Telegram: Lendvest