The Cross Chain Interoperability Protocol (CCIP) developed by Chainlink has experienced a substantial surge in revenue over the past few months, marking a remarkable 180% increase.

After review of our @chainlink #CCIP dashboard today, we’ve made some changes to correct inconsistencies with select data.

While total revenue is lower than initially reported, this review of updated data shows that the #CCIP growth rate remains robust and very much in-line with… pic.twitter.com/tdFhEP1V6F

— LinkPool (@linkpoolio) March 15, 2024

In January, CCIP’s total fee revenue was around $61,000. However, within just the first half of March, this figure soared to over $171,000.

Since its launch in July 2023, CCIP’s cumulative revenue has now reached $377,724, as reported by Dune Analytics.

LinkPool, the providers of Chainlink staking technology and creators of the Dune dashboard, affirm that the growth rate of CCIP remains robust and meets expectations.

Among the sources contributing to CCIP network fees, Arbitrum, an Ethereum layer-2 protocol, leads with 28% of the total, closely followed by Base at 24%.

CCIP’s recent integrations, including with the Metis layer-2 network, auditing platform Code4rena, stablecoin issuer Circle, and South Korea’s prominent game developer Wemade, are aimed at bolstering adoption. Additionally, its partnership with SWIFT in 2022 for a proof-of-concept token transfer project demonstrates its expanding reach and utility in blockchain.

Also Read: Chainlink Chooses Hong Kong for SmartCon 2024

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