Solv Protocol and Re Switch to Chainlink CCIP, Moving Nearly $1B Away From Layerzero

Solv Protocol and Re Switch to Chainlink CCIP, Moving Nearly $1B Away From Layerzero

Briefly

"Solv Protocol announced this week that it is migrating its entire tokenized bitcoin portfolio, including SolvBTC and xSolvBTC, from Layerzero to Chainlink CCIP. The move covers roughly $700 million in assets and affects bridge deployments on Corn, Berachain, Rootstock, and TAC networks. Layerzero support on those chains is being deprecated as the migration proceeds in phases. After an extensive security review, Solv is deprecating its Layerzero bridges and migrating to the most secure cross-chain solution in the industry, with SolvBTC and xSolvBTC now officially powered by Chainlink CCIP across all supported chains, the team wrote."

"Re (re.xyz), an onchain reinsurance protocol, made a similar call. The team selected Chainlink CCIP as the exclusive cross-chain infrastructure for reUSD, its yield-bearing stablecoin with more than $160 million in market cap. Re cited CCIP's redundant validation by 16 or more independent node operators, native rate-limit circuit breakers, and SOC 2 Type 2 compliance as the deciding factors. Protocol TVL stands above $475 million."

"Both decisions follow an April 18, 2026, exploit that drained approximately 116,500 rsETH, worth roughly $292 million at the time, from a Layerzero-powered bridge used by KelpDAO. Attackers reportedly used the stolen assets as collateral on Aave v3. KelpDAO attributed the breach to a 1-of-1 verifier configuration within Layerzero's infrastructure, which created a single point of failure. Layerzero disputed that framing. The company said KelpDAO had manually selected a non-recommended single-verifier model against Layerzero's own guidance and"