Lombard Finance · LayerZero · Chainlink · Bitcoin · Ethereum · Decrypt
Bitcoin decentralized finance ( DeFi ) firm Lombard Finance will replace LayerZero technology with Chainlink’s cross-chain
Compiled by KHAO Editorial — aggregated from 3 sources. See llms.txt for citation guidance.
✓ KHAO Verified
The move comes one day after crypto exchange Kraken similarly opted for Chainlink CCIP to power its kBTC wrapped Bitcoin token, instead of LayerZero.
Key facts
- Lombard BTC (BTC.B) and Lombard Staked BTC (LBTC) collectively make up more than $1 billion in market cap, $816 million of which belongs to its staked Bitcoin asset, LBTC
- The firm’s internal RPCs were “poisoned” by North Korean hackers, leading to the loss of $292 million worth of assets from Kelp DAO infrastructure
- Bitcoin decentralized finance ( DeFi ) firm Lombard Finance will replace LayerZero technology with Chainlink’s cross-chain interoperability platform (CCIP), following an extensive review
- This decision prioritizes the safety and security of all Lombard users and reflects their commitment to the security record they've maintained since day 1: 0 security incidents, and 100% uptime
Summary
Lombard Finance is the latest firm to move its assets off LayerZero technology in favor of Chainlink. The firm conducted an internal review of its technology, opting for Chainlink in the wake of the Kelp DAO exploit. Bitcoin decentralized finance ( DeFi ) firm Lombard Finance will replace LayerZero technology with Chainlink’s cross-chain interoperability platform (CCIP), following an extensive review of its Bitcoin asset tech stack in the wake of last month’s $292 million Kelp DAO exploit. “This decision prioritizes the safety and security of all Lombard users and reflects our commitment to maintaining the security record we've built since day one, zero security incidents and 100% uptime,” Lombard posted on X.