Solv Protocol moves tokenized bitcoin to Chainlink CCIP

On Thursday, Solv Protocol announced it will migrate its cross-chain infrastructure from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), moving more than $700 million in tokenized bitcoin products. The transition will phase out LayerZero-based bridges for SolvBTC and xSolvBTC with Corn, Berachain, Rootstock and TAC.

In a post, Solv wrote that it reviewed its cross-chain connections after recent industry security incidents and found CCIP “provided the strongest security assurances through its secure-by-default architecture, native risk controls, and proactive monitoring.” The protocol added that CCIP is “widely considered the ‘gold standard' for decentralized interoperability” and noted its official recognition by the White House as a critical digital asset infrastructure.

The decision follows last month's exploit of a LayerZero-powered bridge used by Kelp DAO, in which attackers withdrew about 116,500 rsETH. Investigators estimate the loss at roughly $292 million. The exploit used a single-verifier configuration in an Omnichain Fungible Token bridge and contributed to significant bad debt on the Aave protocol. Kelp and LayerZero disputed responsibility; Kelp announced it would migrate to Chainlink's CCIP.

Solv did not reference Kelp directly in its post but pointed to repeated cross-chain security failures as the reason for relocating its bridges. Solv experienced an exploit in March that drained about $2.7 million from one of its Bitcoin Reserve Offering token vaults.

Chainlink's CCIP aims to standardize messaging and asset transfers between blockchains and includes native safeguards and monitoring tools. LayerZero is a messaging protocol used by many cross-chain applications; some implementations rely on single-verifier or single-validator setups that have been targeted in attacks.

Solv will designate CCIP as its official cross-chain infrastructure and remove support for existing LayerZero links as it phases the migration. The change will affect custody and routing for more than $700 million in tokenized bitcoin products.