Several popular memecoins were added to a number of Chainlink services over the weekend, allowing them to be offered on other networks or as streaming services.
Over the past few days, Shiba Inu (SHIB) and its ecosystem tokens, Turbo (TURBO) and Apu (APU), have adopted the Chainlink Cross-Chain Token (CCT) standard and become available on 12 blockchains, making them available on other networks. from where they were originally issued.
On Sunday, Simon’s Cats (CAT), Coq Inu (COQ), Goat (GOAT), Hamster Kombat’s HMSTR and mog coin (MOG) joined the list of assets on Chainlink’s decentralized data stream.
These streams use the Oracle model, where market data is continuously available off-chain. Such data can be accessed and then cryptographically verified on-chain when needed.
CCTs are cross-chain assets offered and protected by Chainlink’s security. The lock-and-mint mechanism allows token transfers to chains other than Ethereum, while the burn-and-mint mechanism facilitates cross-chain transfers across all other networks.
Offering on various networks will increase the visibility and distribution of the token, helping to drive investment and usage among network users.
Chainlink’s LINK tokens rallied on Monday, bringing bitcoin (BTC) down 2% in the past 24 hours.
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