Key Highlights
- Chainlink CCIP is facilitating TAO’s expansion to Base, allowing the Bittensor token to be transferred across networks.
- The integration enables TAO swaps on Aerodrome for the first time, including access to trading pools such as TAO-USDC.
- Chainlink DataLink is supporting lending and borrowing markets for wARS, a tokenized representation of the Argentine peso, by providing the reference data needed to value the asset.
Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is facilitating the expansion of TAO to the Base network.
In an X post on Saturday, Chris Barrett, Senior Director of Communications at Chainlink Lab, mentioned that the integration enables TAO swaps on Aerodrome for the first time. Separately, Chainlink DataLink is supporting lending and borrowing markets for wARS, a tokenized Argentine peso. These developments follow an earlier integration involving Coinbase’s cbBTC on Robinhood Chain.
TAO expansion to Base via CCIP
TAO is moving to Base through Chainlink CCIP. The protocol provides the cross-chain messaging and transfer infrastructure that connects Bittensor assets to Base. Once transferred, TAO becomes available for swaps on Aerodrome, a decentralized exchange operating on Base. This marks the first time TAO swaps have been enabled on that platform.
The arrangement allows TAO to appear in Base applications where users can exchange it against other assets, including USDC pools. Chainlink CCIP serves as the underlying standard for the token movement between the originating network and Base.
Chainlink DataLink is powering lending and borrowing markets for wARS. The token is a tokenized representation of the Argentine peso. DataLink supplies the reference data required for these markets to function. The setup enables protocols to value the asset and support related lending and borrowing activity.
Prior integration of cbBTC on Robinhood Chain
On August 27, Chainlink announced that Coinbase’s cbBTC is being added to Robinhood Chain. Chainlink’s Cross-Chain Interoperability Protocol supplies the infrastructure for transferring the token between supported networks.
The token has more than $7.5 billion in circulation. The deployment provides applications on Robinhood Chain with access to the Coinbase Bitcoin-backed token for use in onchain financial products.
TAO price analysis
At the time of writing (on August 29 at 4:30 pm UTC), Bittensor’s TAO token traded at $238.33, down 0.5 percent over the past 24 hours. The daily range spanned $231.38 to $239.76. Market capitalization stood at $2.288 billion, with a fully diluted valuation of $5.005 billion. Twenty-four-hour trading volume reached $109.293 million. The circulating supply measured 9.597 million against a total and maximum supply of 21 million.
Over seven days the token rose 6.0 percent. The weekly range extended from $215.12 to $259.89. The all-time high of $757.60, set on 7 March 2024, left the price 68.5 percent lower. The all-time low of $30.83 from 14 May 2023 placed the current level 675.0 percent higher.
Common infrastructure across assets
The TAO transfer to Base, the wARS lending and borrowing markets, and the earlier cbBTC deployment on Robinhood Chain all rely on Chainlink systems. CCIP handles the cross-chain movement of TAO and cbBTC. DataLink supplies the data layer for wARS markets. In each case the same underlying standards are applied to different assets and different market venues.
The reported expansions cover two additional assets and two additional markets operating under a shared interoperability and data framework.
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