Lombard Finance Dumps LayerZero, Will Use Chainlink to Power $1 Billion in Bitcoin Assets
The Bitcoin DeFi protocol is moving its assets away from LayerZero following the Kelp DAO exploit that led to the loss of $292 million....
Key takeaways
- 1Lombard Finance migrates $1 billion in Bitcoin assets from LayerZero to Chainlink following Kelp DAO's $292 million exploit.
- 2The shift reflects growing security concerns about LayerZero's cross-chain bridge infrastructure after the recent DeFi hack.
- 3Chainlink's oracle services now power Lombard's Bitcoin DeFi protocol, replacing the previously used LayerZero technology stack.
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Why it matters
This migration signals renewed focus on security within DeFi protocols handling large Bitcoin assets and may influence other protocols to reassess bridge infrastructure. For Indian retail investors in crypto, it demonstrates how major exploits trigger ecosystem-wide shifts, affecting which infrastructure protocols survive long-term.
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