Multiple Protocols Migrate from LayerZero to Chainlink CCIP, Total TVL Surpasses $2 Billion

May 10th — According to analyst Tom Wan, multiple protocols with a combined total value locked (TVL) of roughly $20 billion have announced plans to migrate to Chainlink CCIP, despite LayerZero issuing an apology statement earlier. These include KelpDAO ($15B), SolvProtocol ($6B), and re ($2B). Meanwhile, top assets still using LayerZero’s OFT standard are: USDe/sUSDe (Ethena), weETH (Etherfi), USDT0 (Tether), thBILL (Theo), and WBTC (Bitgo). Specific migration timelines will be released by the projects at a later date. Earlier, LayerZero formally apologized for its inadequate communication during the security incident over the past three weeks. The firm acknowledged its internal RPC was compromised by the Lazarus Group and admitted it had mistakenly allowed LayerZero Labs DVN to serve as a 1/1 validation node for high-value transactions, creating a single point of failure.