Solv Protocol, a leading DeFi platform for Bitcoin, is migrating its cross-chain infrastructure from LayerZero to Chainlink CCIP. The move secures over $700 million in wrapped Bitcoin assets, specifically SolvBTC and xSolvBTC.
The decision follows a comprehensive security review. The protocol cited bridge-related hacks across the industry as a key reason for standardizing on Chainlink’s infrastructure, which offers stronger security guarantees and a decentralized architecture.
Will Wang, Chief Technology Officer at Solv, stated, "Security is the foundation of everything we build at Solv, and our migration to Chainlink CCIP reinforces that commitment at the highest level."
As part of the migration, Solv is deprecating LayerZero bridge support for several networks, including Corn, Berachain, Rootstock, and TAC. Johann Eid, Chief Business Officer at Chainlink Labs, said the migration reflects a trend of major DeFi protocols adopting CCIP for institutional-grade security.
This shift comes as LayerZero faces scrutiny following a $300 million DeFi bridge exploit on April 18 involving KelpDAO. While LayerZero blamed a single-DVN configuration, KelpDAO countered that LayerZero had approved that setup. Following the exploit, KelpDAO also plans to migrate its rsETH bridging infrastructure to Chainlink CCIP.