In a strategic move aimed at strengthening the security of digital assets in the rapidly evolving Web3 landscape, TokenShield has officially become a part of the Chainlink BUILD program. This partnership marks a significant milestone in the journey towards fortifying the protection of valuable digital assets and advancing the adoption of TokenShield’s innovative security protocol.
TokenShield’s participation in the Chainlink BUILD program will usher in a new era of collaboration, bringing together cutting-edge security solutions with Chainlink’s renowned oracle services and technical expertise. As a part of this initiative, TokenShield commits to providing network fees and other incentives to the Chainlink community, including stakers, in exchange for priority support and access to Chainlink’s extensive ecosystem.
A Fortified Bastion for Digital Asset Security
TokenShield is a groundbreaking security protocol designed to shield your most valuable digital assets from a myriad of threats. Its mission is clear: to empower creators, collectors, and investors to confidently engage with and preserve the value of their digital holdings. At the core of TokenShield’s security offering are its proprietary Vaults. These Vaults are smart contract accounts built upon the Account Abstraction and Token Bound Account standards.
Essentially, a Vault acts as a cold wallet securely contained within a user’s hot wallet. Vaults provide multiple layers of security, including multi-factor authentication for every outgoing transaction and Vault recovery mechanisms in the event of wallet compromises. Importantly, TokenShield remains fully self-custodial, ensuring that users retain control over their assets. This robust approach helps safeguard digital assets against risks such as phishing attacks, malware, and exposure of private keys.
A Strategic Move for Enhanced Security
TokenShield’s decision to join the Chainlink BUILD program is rooted in its quest to harness the security and reliability advantages offered by Chainlink’s oracle infrastructure. As a participant in BUILD, TokenShield gains access to various benefits, including integration with Chainlink Price Feeds and Chainlink Automation, early access to alpha and beta releases of Chainlink products, and more.
In return for these services, TokenShield has committed to making 5% of its native token supply available to Chainlink service providers, including stakers, over time. This mutually beneficial arrangement aligns economic incentives for both communities, enabling them to support and uplift each other. Overall, the primary objectives of this partnership are to accelerate ecosystem growth, foster long-term adoption of TokenShield’s digital asset security solution, and establish stronger ties between the TokenShield and Chainlink communities.
Andrej Babamov, Co-Founder of TokenShield, expressed his excitement about the partnership, saying, “We’re thrilled to join Chainlink BUILD to gain access to industry-standard Web3 services, technical support, and a robust crypto-economic model that empowers us to build a digital asset security solution. Chainlink is well-known for its time-tested security and reliability, and through the integration of its industry-leading services, TokenShield can redefine and elevate the digital asset security in the Web3 space.”
Leading the Web3 Revolution
Chainlink, recognized as the industry-standard Web3 services platform, has facilitated trillions of dollars in transaction volume across various sectors, including DeFi, insurance, gaming, NFTs, and more. As the premier decentralized oracle network, Chainlink empowers developers to create feature-rich Web3 applications with seamless access to real-world data and off-chain computation on any blockchain. Additionally, it provides global enterprises with a universal gateway to interact with all blockchain networks.
Overall, TokenShield’s inclusion in the Chainlink BUILD program signals a promising alliance that holds the potential to redefine the landscape of digital asset security. With the synergy of innovative security solutions and Chainlink’s oracle services, the future looks brighter for safeguarding valuable digital assets in the Web3 era. This partnership also exemplifies the collaborative spirit of the blockchain community and its commitment to enhancing the safety and security of decentralized finance and digital asset ecosystems.
Source: https://blockchainreporter.net/tokenshield-joins-chainlink-build-to-elevate-digital-asset-security/