Greater than $7.2 billion in cross-chain and wrapped belongings have migrated from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) since Might, with Mantle turning into the newest undertaking to interchange LayerZero for high-value token transfers.
Mantle mentioned it’s migrating its Tremendous Portal, which it co-developed with Bybit, from LayerZero’s Omnichain Fungible Token (OFT) commonplace to Chainlink’s Cross-Chain Token (CCT) commonplace.
LayerZero and Chainlink CCIP each let token holders transfer belongings between blockchains, a primary requirement as crypto markets unfold throughout competing networks.
The infrastructure issues as a result of bridges between totally different blockchains have turn out to be one in every of crypto’s largest safety dangers, with a single failure capable of expose a whole lot of thousands and thousands of {dollars} in consumer belongings.
The portal permits transfers of the MNT token between Ethereum and Solana, with help for extra blockchain networks deliberate.
The migration consists of MNT, the native token of Mantle’s community, which has greater than $2.5 billion in worth locked. Mantle’s transfer pushes the overall worth of introduced migrations from LayerZero to Chainlink CCIP above $7.24 billion.