Following a $292 million KelpDAO exploit that targeted a flaw in LayerZero's messaging layer, crypto projects with over $3 billion in total value locked migrated their cross-chain infrastructure from LayerZero to Chainlink's CCIP. Solv Protocol announced on May 7, 2026 that it will migrate $700 million in tokenized Bitcoin infrastructure to Chainlink's CCIP after a security review prompted by the breach.
KelpDAO exploit aftermath
- ▪The article was published on May 10, 2026
- ▪The KelpDAO exploit triggered a flight to quality across DeFi
- ▪The KelpDAO hack targeted a flaw in LayerZero's messaging layer
- ▪The KelpDAO exploit resulted in a $292 million security breach
Solv Protocol Chainlink migration
- ▪Solv Protocol announced on May 7, 2026 that Solv Protocol will migrate $700 million in tokenized Bitcoin infrastructure to Chainlink's CCIP
- ▪The combined Solv Protocol and Kelp migrations shift nearly $1 billion to Chainlink
- ▪Solv Protocol's migration to Chainlink's CCIP was prompted by a security review following the KelpDAO exploit
Pepeto presale positioning
- ▪Pepeto carries a SolidProof audit
- ▪Pepeto moved to a temporary domain at PepetoSwap.com while the primary domain is being secured following a sustained cyber offensive
- ▪Pepeto offers 174% APY staking that compounds daily for holders
- ▪Pepeto raised $9.2 million at a price of $0.0000001865
Dogecoin market performance
- ▪Dogecoin trades at $0.10 as of May 10, 2026
- ▪Dogecoin gained 2.5% over the week ending May 10, 2026
- ▪Dogecoin whale holdings reached a record high in early May 2026
Chainlink institutional adoption
- ▪Wallets holding 100,000 to 10 million LINK added 32.93 million tokens in April 2026, a 7.7% increase
- ▪Chainlink has a market cap of $7.2 billion as of May 10, 2026
- ▪Chainlink trades at $10.43 as of May 10, 2026
- ▪Chainlink is trading 81% below its all-time high of $52.99
Perspective of DeFi protocols migrating to Chainlink
- ▪The KelpDAO hack targeted a flaw in LayerZero's messaging layer
- ▪Solv Protocol's migration to Chainlink's CCIP was prompted by a security review following the KelpDAO exploit
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