Lombard has announced the migration of over $1 billion in Bitcoin-backed assets to Chainlink's Cross-Chain Interoperability Protocol (CCIP), marking a significant departure from LayerZero. This strategic move follows a comprehensive security review prompted by a recent exploit in LayerZero's infrastructure, which has led to a collapse in the ZRO token price.
The migration involves replacing LayerZero across major networks such as Solana, Etherlink, Berachain, Corn, and TAC, effectively removing the previous bridging infrastructure. Lombard's decision underscores a shift towards Chainlink's decentralized oracle network, which offers a more secure, multi-layer verification system. This transition highlights the growing demand for robust cross-chain solutions in the wake of security vulnerabilities.
Lombard Shifts $1B Bitcoin-Backed Assets to Chainlink CCIP, Abandons LayerZero
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