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BTC $77,217.06 -0.01%
ETH $2,120.84 +0.27%
BNB $655.90 +1.21%
XRP $1.36 +1.79%
SOL $85.67 +1.60%
TRX $0.3625 +0.15%
DOGE $0.1056 +1.29%
ADA $0.2458 +1.43%
BCH $378.64 +1.31%
LINK $9.55 +1.52%
HYPE $58.72 +7.27%
AAVE $88.23 +0.27%
SUI $1.11 +1.82%
XLM $0.1480 +3.21%
ZEC $636.91 -3.32%

layer

After the attack on KelpDAO, multiple protocols have abandoned LayerZero, with $4 billion in assets migrated to Chainlink CCIP

According to CoinDesk, after KelpDAO was attacked resulting in a loss of $292 million, the industry's scrutiny of the security of cross-chain infrastructure continues to heat up, with approximately $4 billion in assets having completed or currently migrating from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP).The DeFi protocol Lombard is the latest project to join this migration trend. The protocol announced it would abandon LayerZero and migrate over $1 billion in Bitcoin-backed assets to Chainlink CCIP, stating that this decision stemmed from a comprehensive internal security review following the April attack incident.Lombard issues two types of Bitcoin-backed tokens—LBTC and BTC.b—and will prioritize the migration of assets on chains such as Solana, Etherlink, Berachain, Corn, and TAC, while terminating the use of LayerZero on Morph and Swell. Lombard stated that the reason for choosing CCIP is its independent node operators, built-in rate limiting mechanisms, and audited infrastructure. Additionally, the protocol will adopt Chainlink's cross-chain token standard to achieve asset cross-chain circulation through a burn-and-mint model.Previously, Kelp DAO, Solv Protocol, Re, and the cryptocurrency exchange Kraken have all completed similar migrations, with these projects collectively transferring approximately $4 billion in assets. Chainlink Labs Chief Business Officer Johann Eid stated, "We are witnessing a continued wave of risk-averse migration within the industry."

Movement acquires Canopy, officially incorporating Vault infrastructure into the core layer of the ecosystem

Movement announced that it has completed the acquisition of the on-chain Vault infrastructure project Canopy, further integrating key financial infrastructure within the Movement Network. Canopy has previously been an important part of the Movement ecosystem, primarily responsible for building the Vault layer on the Movement Network, with its smart contracts allowing users to allocate assets and strategize on-chain with independent strategy managers.After this acquisition, Canopy will collaborate more closely with the on-chain credit protocol MovePosition, and Movement is gradually building a complete on-chain financial infrastructure stack covering modules such as Vault, credit, and yield strategies. Movement stated that most public chain ecosystems still rely on third parties to provide core financial primitives, while Movement hopes to achieve deeper technical collaboration between Vault contracts and other components of the network through self-built and internally integrated methods.For developers, this means they can directly integrate core protocols that are continuously iterating; for partners, it means stronger consistency between the underlying infrastructure and the development team; for users, it is expected to provide a more unified on-chain financial product experience. The official also revealed that MovePosition and Canopy will gradually operate as a unified infrastructure, with more integration details to be announced in the coming weeks.
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