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CAT, MOG, SHIB Among Meme Tokens Added to Chainlink Services

Offering on various networks increases visibility and distribution for a token, helping drive investment and usage among network users.

By Shaurya Malwa|Edited by Sheldon Reback
Dec 23, 2024, 1:23 p.m.
(Chainlink)
(Chainlink)

What to know:

  • Several popular memecoins were added to a number of Chainlink services over the weekend.
  • Added tokens include shiba inu (SHIB), Simon's Cat (CAT) and mog coin (MOG).
  • Offering on various networks increases visibility and distribution for a token, helping drive investment and usage among network users.

Several popular memecoins were added to a number of Chainlink services over the weekend, allowing them to be offered on other networks or as data streaming services.

In the past few days, Shiba Inu SHIB$0.0₅6109 and its ecosystem tokens, TURBO$0.001051 and Apu (APU), adopted the Chainlink Cross-Chain Token (CCT) standard to become available across 12 blockchains, making them accessible on networks other than where they were originally issued.

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On Sunday, tokens Simon’s Cat (CAT), COQ$0.0₆1091, goat (GOAT), Hamster Kombat’s HMSTR and MOG$0.0₆1717 joined a list of assets on Chainlink’s decentralized data streams.

These streams use an 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. A lock-and-mint mechanism enables token transfers from Ethereum to other chains, while the burn-and-mint mechanism facilitates cross-chain transfers across all other networks.

Offering on various networks increases visibility and distribution for a token, helping drive investment and usage among network users.

Chainlink’s LINK tokens rose Monday, beating a 2% drop in bitcoin BTC$70,411.45 in the past 24 hours.

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