Solv Protocol Will Dump LayerZero, Migrate $700M Tokenized Bitcoin Tech to Chainlink
Solv Protocol is migrating over $700 million in tokenized Bitcoin infrastructure from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) after a $292 million Kelp DAO exploit intensified concerns over cross-chain bridge security. Solv announced it will discontinue LayerZero support for Corn, Berachain, Rootstock, and TAC, fully standardizing on Chainlink CCIP to enhance security for SolvBTC and xSolvBTC transfers. The company cites a broad security review and recent high-profile cross-chain bridge hacks as the drivers for this move. Cross-chain bridges, designed to allow asset transfers between blockchains, remain major hacking targets due to complex trust requirements and large held funds. Recent attacks include the Kelp DAO exploit, as well as previous hacks of Axie Infinity’s Ronin bridge and WazirX. Following disputes about responsibility in the Kelp DAO incident, both Solv and Kelp DAO are moving away from LayerZero to Chainlink’s system, which uses multiple independent validators to increase security. Chainlink Labs hailed the migration as part of an industry-wide shift toward stronger security standards for cross-chain protocols.
