SYNTHETIX LAUNCHES TELEPORTERS WITH CHAINLINK’S CCIP

Summary from the TLDR Crypto newsletter

Synthetix has integrated Chainlink's Cross-Chain Interoperability Protocol into its v3 protocol, marking a groundbreaking use of Chainlink CCIP. The upgrade allows for efficient and secure cross-chain transfers of sUSD via the Synthetix Teleporter, initially facilitating movements between Ethereum and Optimism. This development opens a pathway for additional expansions to other EVM-compatible chains. The integration establishes shared collateral across multiple chains while keeping the total supply of sUSD constant. Synthetix is also exploring the possibility of utilizing Chainlink CCIP for cross-chain synthetic perpetual futures and staking pools, among other uses.