Greater than $7.2 billion in cross-chain and wrapped property have migrated from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) since Might, with Mantle changing into the most recent undertaking to exchange 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) normal to Chainlink’s Cross-Chain Token (CCT) normal.
LayerZero and Chainlink CCIP each let token holders transfer property between blockchains, a primary requirement as crypto markets unfold throughout competing networks.
The infrastructure issues as a result of bridges between completely different blockchains have turn out to be one in every of crypto’s largest safety dangers, with a single failure ready to expose lots of of thousands and thousands of {dollars} in person property.
The portal permits transfers of the MNT token between Ethereum and Solana, with help for added blockchain networks deliberate.
The migration contains MNT, the native token of Mantle’s community, which has greater than $2.5 billion in worth locked. Mantle’s transfer pushes the entire worth of introduced migrations from LayerZero to Chainlink CCIP above $7.24 billion.
