More than $2B in TVL set to move from LayerZero to Chainlink CCIP

May 10 — Analyst Tom Wan said protocols representing roughly $2 billion in total value locked have disclosed plans to migrate from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), even after LayerZero released an apology. Projects citing CCIP migrations include KelpDAO (about $1.5 billion TVL), SolvProtocol (about $600 million), and re (about $200 million). Several major assets remain on LayerZero's OFT standard, including USDe/sUSDe (Ethena), weETH (Etherfi), USDT0 (Tether), thBILL (Theo), and WBTC (BitGo). Timelines and execution details will depend on each project's official updates. LayerZero previously issued a formal apology over what it described as inadequate communication around a security incident spanning the past three weeks. In its statement, the team said its internal RPC was compromised by the Lazarus Group and acknowledged it mistakenly allowed the LayerZero Labs DVN to operate as a 1/1 validation node for high-value transactions, introducing a single point of failure.