DOMANI Integrates Chainlink CCIP and Price Feeds To Unlock Institutional Cross-Chain Use Cases

We’re excited to announce that DOMANI — one of the most established digital asset management platforms — has integrated Chainlink CCIP and Price Feeds across Arbitrum and Polygon mainnets. We’re leveraging CCIP’s Simplified Token Transfer mechanism to facilitate cross-chain bridging of our DEXTF token, and Price Feeds to enable accurate conversions and display USD-equivalent balances. Ultimately, the Chainlink platform helps unlock institutional cross-chain use cases for our protocol.

DOMANI is an asset management protocol that empowers anyone to mint, trade, redeem, and provide liquidity on non-custodial tokenized portfolios. To put it simply, DOMANI’s infrastructure enables the creation of digital-native funds, also known as funds of tokens. With a vision to become the primary digital asset management platform, we’re actively catering to major banks and financial institutions as a digital asset management infrastructure provider.

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.

Chainlink CCIP provides a multitude of important benefits and features, such as:

• Defense-in-depth security — Powered by Chainlink’s industry-standard oracle networks. CCIP also features additional layers of protection via the Risk Management Network and transfer rate limits.
• Programmable Token Transfers — Send tokens and instructions for their use to a receiving smart contract on a different blockchain — specify to swap or stake assets once they arrive at the destination chain, for example.
• Simplified 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 unlocking 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.
• Seamless integration — A single, easy-to-integrate interface for a unified cross-chain developer experience. Simply integrate CCIP onchain and start building secure cross-chain applications.

“Integrating the industry-standard Chainlink CCIP and Price Feeds is important for establishing DOMANI as the primary protocol for digital asset management. Critically, Chainlink’s infrastructure meets the high standards required by institutions and we’re excited the future possibilities it opens up for our ecosystem.”

- Nicola Lanteri, CEO, DOMANI Protocol (Built by Memento Blockchain)

To help secure our protocol with the high-integrity data required to enable institutional use cases, we needed access to fresh asset prices that are supplied directly onchain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data offchain and deliver it onchain to be consumed by our application. Our initial integration involves the use of the following Chainlink Price Feeds: ETH/USD and BTC/USD.

After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:

• High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
• Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
• Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
• Transparency — Robust, publicly available reputation frameworks and onchain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.

Through a combination of Chainlink CCIP and Price Feeds, we are able to support cross-chain DEXTF transfers and access high-quality market data, supporting our vision towards making Domani the go-to gateway to DeFi for financial institutions.

About DOMANI Protocol, built by Memento

DOMANI is an asset management protocol for DeFi that provides minting, trading, redeeming, and liquidity for non-custodial oracle-less tokenized portfolios. DOMANI aims to bridge the gap between users who lack the time and expertise to research investments and those who have the expertise. But also to bridge the value between TradFi and DeFi.

About Chainlink

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $12 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.