Tensorplex Stake Integrates Chainlink CCIP To Unlock Cross-Chain Liquid Staking

We’re excited to announce that Tensorplex Stake — a liquid staking solution for decentralized AI network tokens by Tensorplex Labs — has integrated Chainlink CCIP — the industry standard for secure cross-chain interoperability — across the Arbitrum, Base, Ethereum, and Optimism mainnets. We’re leveraging CCIP’s Simplified Token Transfer capabilities to facilitate cross-chain transfers of stTAO, enabling a more seamless cross-chain liquid staking user experience across DeFi.

We selected CCIP as our preferred interoperability solution because Chainlink has the most 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.

Tensorplex Stake aims to offer users a straightforward way to participate in decentralized AI networks. Representing staked TAO on the Bittensor Finney Network, stTAO is a liquid staking token (LST) that enables users to participate in the TAO ecosystem without needing to download a Substrate-compatible wallet and delegating manually. Users will be able to use stTAO across various products in the DeFi ecosystem on multiple EVM chains.

In order to help secure cross-chain stTAO 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 $9 trillion in onchain transaction value. CCIP also features additional layers of protection and reliability via the Risk Management Network and Smart Execution.
• Secure Token Transfers — CCIP features a plug-and-play solution consisting of audited token pool contracts that handle the complexity of burning and minting or locking and minting tokens across chains. CCIP 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.
• Programmable Token Transfers — 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.
• 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.

“We’re excited to integrate the industry-standard Chainlink CCIP to help secure cross-chain transfers of stTAO. By leveraging CCIP’s advanced security features and battle-tested infrastructure, we can streamline the use of stTAO across the multi-chain ecosystem.”–CK Cheung, Co-Founder of Tensorplex Labs

About Chainlink

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

About Tensorplex Labs

Tensorplex Labs develops capital and intelligence infrastructure aimed at supercharging decentralized intelligence. Our inaugural product, Tensorplex Stake, is a liquid staking solution for TAO tokens on the Ethereum network and has successfully secured $18 million USD in staked TAO. Additionally, with $90 million USD worth of TAO delegated to our validator, Tensorplex operates as one of the largest validators on the Bittensor network.

Tensorplex Labs is set to expand its product lineup, with plans to launch a subnet on Bittensor and additional decentralized intelligence products.