Wyoming’s Stable Token Commission has migrated Frontier Stable Token, or FRNT, from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol, known as CCIP, and said the LayerZero token implementation will be fully retired after a comprehensive security review is completed. Under a multi-year contract, CCIP will serve as FRNT’s sole cross-chain infrastructure.
The move is notable because it marks the first public case of a U.S. government entity replacing blockchain infrastructure on security grounds, according to the information provided. FRNT is also described as the only stablecoin issued by a U.S. public institution and backed by fully reserved fiat holdings. Revenue generated from those reserves supports Wyoming school foundation programs.
FRNT has been deployed on Ethereum, Base and Avalanche, and its market capitalization is currently below $1 million. The decision comes four months after a LayerZero-based Kelp DAO bridge was attacked, leading to the theft of about 116,500 rsETH, valued at roughly $292 million at the time. That incident triggered broader security reviews and a wave of migrations. So far, nearly $15 billion in related assets have moved from LayerZero to Chainlink, with Kelp, Solv Protocol, Re, Kraken and later BitGo among the projects and firms cited.
Wyoming’s Stable Token Commission has migrated its Frontier Stable Token, or FRNT, from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol, known as CCIP, and plans to fully retire the LayerZero token implementation after completing a comprehensive security review.
CCIP to become FRNT’s only cross-chain infrastructure
Under a multi-year contract, CCIP will act as the sole cross-chain infrastructure for FRNT. The change is described as the first public case of a U.S. government entity replacing blockchain infrastructure on security grounds.
FRNT is currently the only stablecoin issued by a U.S. public institution that is backed by fully reserved fiat holdings. Yield from those reserves is used to support school foundation programs in the state. The token has been deployed on Ethereum, Base and Avalanche, and its market capitalization is currently below $1 million.
Decision follows a broader security-driven migration wave
The announcement came four months after a LayerZero-based bridge used by Kelp DAO was attacked. About 116,500 rsETH were stolen in that incident, worth roughly $292 million at the time. The breach led to wider security reviews across the sector and a migration wave.
To date, nearly $15 billion in related assets have moved from LayerZero to Chainlink. Early movers included Kelp, Solv Protocol, Re and Kraken. BitGo later chose CCIP and completed a wrapped Bitcoin migration worth about $7.7 billion, bringing the cumulative total to the current level.
Earlier LayerZero case study mentioned Wyoming setup
Separately, a LayerZero case study published in January this year said Wyoming had previously operated its own decentralized verifier network and controlled verification and compliance functions.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
