Pleasing Market is changing LayerZero with Chainlink as its cross-chain infrastructure supplier after a safety assessment.
The transfer shifts about $90 million in tokenized precious-metals worth to Chainlink’s interoperability stack. Pleasing Market stated the change will assist safer cross-chain motion for its present property and future community expansions.
PGOLD and USDpm Will Use Chainlink CCIP
Pleasing Market will retire its LayerZero bridges and use Chainlink’s Cross-Chain Interoperability Protocol for transfers of PGOLD and USDpm. The property are anticipated to run throughout Arbitrum, Ethereum, Pharos and future networks.
PGOLD is Pleasing Market’s tokenized gold product, whereas USDpm is the platform’s dollar-pegged ecosystem token. Pleasing Market describes PGOLD as a digital token backed by LBMA-certified bodily gold.
Chainlink Information Streams Will Value Tokenized Metals
Pleasing Market has additionally adopted Chainlink Information Streams to assist pricing for tokenized treasured metals throughout a number of blockchain networks.
The pricing layer helps buying and selling, collateral use and redemptions for tokenized metals. That makes the migration each an interoperability change and a market-data improve.
Kelp DAO Exploit Pushed Bridge-Safety Evaluation
The transfer follows the Kelp DAO exploit, which introduced new scrutiny to bridge threat throughout DeFi and tokenized real-world asset markets.
Pleasing Market CTO Leon Ma stated the platform selected Chainlink after reviewing interoperability choices and in search of infrastructure that would cut back systemic threat for tokenized treasured metals. Stories have additionally named different tasks adopting Chainlink interoperability instruments, together with Solv Protocol, Lombard and Kraken.
$90M Migration Strikes Metals to Chainlink Rails
The primary job is the migration of PGOLD and USDpm from LayerZero to Chainlink CCIP.
For Pleasing Market, the change places cross-chain infrastructure inside its tokenized-asset threat controls. The platform will use Chainlink CCIP and Information Streams for tokenized metals throughout supported networks.
