Arbitrum

Base

Chainlink

Metis

Revenue for Chainlink’s Cross Chain Interoperability Protocol (CCIP) has surged 180% over the past two months amid&nbsp; increased adoption of the multichain bridging platform.
Fee revenue for CCIP has gone up from around $61,000 in total for January to more than $171,000 in just the first two weeks of March.
Meanwhile, total cumulative revenue for the cross-chain protocol, which <a href="https://cointelegraph.com/news/chainlink-launches-cross-chain-protocol-ccip-ethereum-blockchain-mainnet" rel="noopener noreferrer nofollow">launched</a> in July 2023, has reached $377,724, according to Dune Analytics.
“CCIP growth rate remains robust and very much in line with expectations,” <a href="https://twitter.com/linkpoolio/status/1768435337376727429" target="_blank" rel="noopener noreferrer nofollow">stated</a> Chainlink staking technology providers, and the creators of the Dune <a href="https://dune.com/linkpool/chainlink-ccip" target="_blank" rel="noopener noreferrer nofollow">dashboard</a>, LinkPool.
Ethereum layer-2 protocol Arbitrum is the largest source of CCIP network fees with 28% of the total, followed by Base with 24%.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-03/57be5c5b-26ed-4b5c-92c4-ba69e5971b38.png">
 <figcaption style="text-align: center;">CCIP network fees. Source: Dune Analytics
 </figcaption>
</figure>
“You're completely ignoring the massive adoption CCIP is undergoing right now,” <a href="https://twitter.com/SatoshiFlipper/status/1768223007707643965" target="_blank" rel="noopener noreferrer nofollow">wrote</a> crypto trader “Satoshi Flipper” to his 189,000 followers on X on March 14.
“Are you watching Chainlink’s CCIP fees skyrocketing? Over $100k in fees just yesterday,” <a href="https://twitter.com/kyle_chasse/status/1768187722257092942" target="_blank" rel="noopener noreferrer nofollow">claimed</a> crypto YouTuber, entrepreneur, and <a href="https://cointelegraph.com/magazine/thailands-crypto-utopia-sex-drugs-libertarian-smart-village/" rel="noopener noreferrer nofollow">Bitcoin OG</a> Kyle Chassé.
Chainlink community ambassador “ChainLinkGod” <a href="https://twitter.com/ChainLinkGod/status/1767053780376584237" target="_blank" rel="noopener noreferrer nofollow">explained</a> that the fees using Chainlink CCIP “cover the gas costs of completing transactions on the destination chain and the premium paid to CCIP service providers.”
CCIP recently made a number of integrations to increase adoption. These include the Metis layer-2 network, auditing platform Code4rena, stablecoin issuer Circle, and one of South Korea’s largest game developers, Wemade. It <a href="https://cointelegraph.com/news/swift-partners-with-chainlink-for-cross-chain-crypto-transfer-project" rel="noopener noreferrer nofollow">partnered with SWIFT</a> in 2022 for a proof-of-concept token transfer project.
Related: <a href="https://cointelegraph.com/news/chainlink-40-weekly-rally-bull-trap-link-price" rel="noopener noreferrer nofollow">Chainlink's 40% weekly rally might be a 'bull trap' for LINK price</a>
CCIP is a protocol that allows smart contracts to securely access data from any external API or system, enabling seamless and trustless data connectivity between blockchains and off-chain systems through the decentralized oracle network.
Chainlink also gets revenue from network node operators, a small portion of <a href="https://cointelegraph.com/chainlink-price-index" rel="noopener noreferrer nofollow">LINK</a> staking, network revenue share, and enterprise products. Its total cumulative revenue is $373 million with the majority coming from oracle feeds, <a href="https://dune.com/linkpool/chainlink-revenue" target="_blank" rel="noopener noreferrer nofollow">according</a> to Dune.
<a href="https://cointelegraph.com/chainlink-price-index" rel="noopener noreferrer nofollow">LINK</a> prices hit their highest levels for more than two years on March 11 reaching $21.71. The asset returned to this price level on March 14 before sharply retreating to below $20 at the time of writing.
Magazine: <a href="https://cointelegraph.com/magazine/south-africa-digital-nomad-friendly-crypto-hub-cape-town-crypto-city-guide/" rel="noopener noreferrer nofollow">South Africa’s digital-nomad crypto hub: Cape Town, Crypto City Guide</a>

Chainlink CCIP revenue surges 180% over 2 months amid ‘massive adoption’

Cointelegraph

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