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Solv Protocol officially announced its departure from LayerZero’s cross-chain interaction infrastructure to transfer its entire Bitcoin tokenization system, valued at over $700 million, to Chainlink’s technology.
According to the latest announcement, Solv Protocol will standardize its infrastructure around Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and cease support for LayerZero bridges across multiple blockchain ecosystems. This is seen as a strategic move to strengthen investor confidence in Bitcoin tokenization products—a rapidly growing sector attracting institutional capital throughout the 2024–2026 period.
Chief Technology Officer Will Wang emphasized that security is the core foundation of every product Solv builds. Transitioning to CCIP allows SolvBTC and xSolvBTC cross-chain transactions to be protected by a multi-layered defense model, providing a higher level of assurance for users and financial institutions participating in the market. According to him, this transition prepares Solv to scale with the institutional-grade security standards that the current market demands.
Launched in 2021, Solv Protocol quickly emerged as a DeFi platform centered around SolvBTC—a tokenized asset linked to Bitcoin’s price, enabling users to deploy BTC and related assets across multiple blockchains to generate yields. Bitcoin tokenization has become one of the most prominent trends in DeFi following the wave of spot Bitcoin ETFs, as institutions seek to leverage BTC not only as a store of value but also as a yield-generating asset within the decentralized financial ecosystem.
The move away from LayerZero comes just weeks after a shocking attack on Kelp DAO’s infrastructure resulted in approximately $292 million being withdrawn from the system. Although Solv did not directly mention the incident, the project acknowledged that recent “cross-chain hacks” were a significant factor prompting a reevaluation of security. Kelp DAO itself has also announced its abandonment of LayerZero to switch to Chainlink’s cross-chain infrastructure following the hack.
Read more: Kelp DAO Abandons LayerZero, Switches to Chainlink Services After $292 Million Hack
