TL;DR:
Solv Protocol announced the migration of over $700 million in tokenized bitcoin assets from the LayerZero bridge to Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The transition, which affects SolvBTC and xSolvBTC —the wrapped assets the protocol uses across DeFi and BTCfi markets— also involves the deprecation of LayerZero support on the Corn, Berachain, Rootstock, and TAC networks. The decision was made following an updated security review and in response to a series of recent cross-chain attacks.
The decision made by Solv Protocol is a direct response to the exploit of Kelp DAO, which migrated its own cross-chain infrastructure for similar reasons. In April, an exploit caused the loss of 116,500 rsETH, equivalent to approximately $292 million, from Kelp’s LayerZero-based bridge.
Following the incident, both parties traded accusations: LayerZero argued that Kelp had implemented a single-verifier configuration despite recommendations to adopt a multi-DVN model, while Kelp claimed that LayerZero staff reviewed and approved that same configuration before the attack. LayerZero responded that this is an application-level choice and announced it would stop signing messages for projects operating under that scheme.
The verifier design thus became an active security concern for high-value cross-chain assets, and the debate triggered what the market already describes as a shift toward more robust infrastructure.
The migration of both protocols involves the movement of over $2 billion in asset value shifting toward Chainlink’s cross-chain infrastructure. Johann Eid, Chief Business Officer at Chainlink, noted that there is “a clear and accelerating trend where different protocols are migrating to Chainlink in a flight to quality reminiscent of the rapid shifts of DeFi summer.”
Eid added that the industry’s largest protocols are coming to understand that they can no longer rely on cross-chain infrastructure that transfers responsibility to users when systemic failures occur. Solv, which was already working with Chainlink, now consolidates that relationship as the central pillar of its security architecture.
