SpaceX · LayerZero · Chainlink · Lombard Finance · Ethereum · CoinDesk
Over $7.2 billion have migrated from LayerZero to Chainlink CCIP as Mantle joins exodus
Compiled by KHAO Editorial — aggregated from 1 source + 4 references discovered via search. See llms.txt for citation guidance.
★ Tier-1 Source
More than $7.2 billion in cross-chain and wrapped assets have migrated from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP) since May, with Mantle becoming the latest project to replace LayerZero for high-value token transfers.
Key facts
- Since then, Solv Protocol migrated $700 million in tokenized bitcoin, Re moved $475 million, Kraken transferred $330 million in wrapped assets, Lombard migrated more than $1 billion, Virtuals
- Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B
- Mantle said its Super Portal will be suspended during the migration, which is scheduled to take place between July 9 and July 15
- The migration includes MNT, the native token of Mantle's network, which has more than $2.5 billion in value locked
Summary
Mantle is migrating its $2.5 billion Super Portal from LayerZero to Chainlink's CCT standard to enhance security and control over token transfer settings. Migrations to Chainlink CCIP so far include Kelp and Lombard, both of which brought over $1 billion, as well as Solv Protocol, Virtuals, Re and Kraken’s tokenized assets. The Mantle migration will occur from July 9 to the 15, enabling the project to expand MNT token transfers to additional blockchain networks while securing assets via oracles. Mantle said it is migrating its Super Portal, which it co-developed with Bybit, from LayerZero's Omnichain Fungible Token (OFT) standard to Chainlink's Cross-Chain Token (CCT) standard.