Solv Protocol Finalizes $700M+ Tokenized BTC Migration to Chainlink CCIP, Fully Deprecates LayerZero

Solv Protocol has completed its migration of over $700 million in tokenized Bitcoin (SolvBTC and xSolvBTC) to Chainlink’s CCIP as of May 8, fully deprecating LayerZero bridges on Corn, Berachain, Rootstock, and TAC networks. The shift, announced May 7 following a security review prompted by Kelp DAO’s April 18 LayerZero exploit (116,500 rsETH, ~$292M loss) and Solv’s $2.7M March incident, standardizes cross-chain operations for its $611M TVL and $2.8B AUM. Combined with Kelp’s move, it funnels $1-2B toward CCIP, pressuring LayerZero’s $1.48 token (-1.6%) amid Aave’s $13B TVL drop.