Solv Protocol shifts $700M tokenized bitcoin to Chainlink CCIP, dropping LayerZero after security concerns.

Solv Protocol is migrating $700 million in tokenized bitcoin assets to Chainlink's Cross-Chain Interoperability Protocol (CCIP) for enhanced security and cross-chain transfers. This move phases out LayerZero support for SolvBTC and xSolvBTC across multiple blockchain networks following a recent $292 million exploit involving a LayerZero-powered bridge. Solv selected Chainlink for its strong security features, native risk controls, and proactive monitoring, aiming to reduce systemic risks in decentralized finance. The migration will occur in phases, establishing CCIP as Solv's standard infrastructure for cross-chain operations going forward.