Celsius X expressed:  CelsiusX is integrating ChainLink Proof of Reserve to Unlock Cross-Chain Liquidity With Wrapped Tokens. With this initial integration, Celsius will bridge wrapped versions of ADA, DOGE, and ETH to Polygon mainnet.

There is an exhaustive medium content on:  Celsius Is Integrating Chainlink Proof of Reserve to Unlock Cross-Chain Liquidity With Wrapped Tokens.

There is also a shorter explainer video where users can learn about Celsius’ Chainlink PoR integration.

Reportedly, per Medium, “The integration of PoR to help secure the minting process of Celsius’ wrapped tokens introduces an additional level of trust-minimization by helping prevent the minting of unbacked tokens. This circuit breaker functionality helps ensure wrapped tokens are only minted when there are enough reserves available in the vault, helping keep Celsius accountable.”

Reportedly, the unique benefits of ChainLink PoR are:  Automated on-chain audits, Reliable Nodes, Decentralized, Transparent.

Celsius expressed: “Unlike other wrapping infrastructure providers, CelsiusX embraces transparency to eliminate the need for third-party trust.  ChainLink is a key infrastructure partner to facilitate that transparency,” Carlhua, Head of CelsiusxDefi.

“Celsius’ integration of ChainLink PoR will mark another large leap towards creating hybrid CeDeFi systems that combine CeFi’s functionality and performance with DeFi’s decentralization and transparency guarantees,” said Celsius Network CEO, Alex Mashinsky.

Celsius Network (CEL) are continuing to work on ideas that are remaking tomorrow.

Sergey Nazarov, Co-founder of Chainlink, stated, “We’re pleased to continue to support Celsius and the broader blockchain ecosystem by helping secure wrapped cross-chain tokens that unlock more advanced smart contract use cases. Chainlink Proof of Reserve replaces lengthy, opaque audits with automated, transparent audits backed by cryptographic truth, empowering users to verify asset collateralization in a way that outmatches traditional solutions.

Community Reaction:  So, if I currently hold say $10k worth of DOGE. Why would I want to use CelsiusXDeFi? What’s the benefit I can look forward to? Thanks.

Mashinsky told community that CEL token will be used in every transaction? Can you explain how it will be done?

“If you listened to the @TwitterSpaces AMA yesterday you would have learned about the first #Blockchain @CelsiusXDeFi is launching with which will use $CEL for all major pair #swap.”

Chainlink allowing for new innovation. Pushing the space forward yet again.

So, we can earn yield on tokens that aren’t on ETH? Is that what you are saying here? If we can’t use these tokens to earn in what would be the real point of this change.

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