This transformation started after the $292 million Kelp bridge exploit earlier this yr, which led to elevated scrutiny of LayerZero-powered bridge configurations. Kelp subsequently introduced that it could be migrating over $1.5 billion in belongings to Chainlink CCIP.
Since then, Solv Protocol has migrated $700 million in tokenized Bitcoin, Re has migrated $475 million, Kraken has migrated $330 million in wrapped belongings, Lombard has migrated over $1 billion, Virtuals Protocol has migrated $700 million, and Yuzu Cash has migrated $54.5 million.
Mantle stated Superportal will likely be suspended in the course of the transition interval, which is scheduled to run from July 9 to July 15. $MNT Ethereum and Solana, and $MNT Actions in Byreal and Bybit will not be affected.
“As tokenized monetary belongings transfer from idea to scale, the infrastructure that transports them from chain to chain can’t be left behind,” Mantle principal advisor Emily Bao stated in a press release.
Chainlink CCIP ensures safety within the new setup. $MNT Switch utilizing a decentralized oracle community. Mantle stated the transfer will enable for scalability by offering direct management over token swimming pools and switch settings based mostly on the CCT customary. $MNT To further blockchain networks and tokenized asset markets.
