Lombard Finance Dumps LayerZero, Will Use Chainlink to Power $1 Billion in Bitcoin Assets

Lombard Finance, identified as a Bitcoin DeFi protocol, is reportedly transitioning its substantial $1 billion in Bitcoin assets away from LayerZero. This significant shift follows the recent Kelp DAO exploit, an incident that led to a loss of $292 million and highlighted security vulnerabilities within the decentralized finance landscape. Moving forward, Lombard Finance intends to utilize Chainlink's technology to power and secure its Bitcoin assets, signaling a strategic change in its underlying infrastructure provider for managing its Bitcoin-denominated decentralized finance operations.