Lombard is a project that aims to transform Bitcoin (BTC)'s utility from simply a store of value to a productive financial tool. Bitcoin is the world's largest cryptocurrency, with a current market value exceeding $1 trillion, but much of it remains "dormant." Lombard has the potential to significantly enhance Bitcoin's utility by connecting it to the Decentralized Finance (DeFi) ecosystem.

Lombard's Vision

Lombard's vision is to expand the scope of Bitcoin's usage within the financial ecosystem, beyond its role as a mere store of value. It maximizes the immense economic value and security features of Bitcoin through integration with DeFi (Decentralized Finance) and PoS (Proof-of-Stake) networks. This allows Bitcoin to be utilized not just as an asset, but also as collateral and a security asset within DeFi.

LBTC: A Token Balancing Bitcoin Liquidity and Yield

LBTC, Lombard's core product, is designed to maximize Bitcoin's liquidity and stimulate its use in the DeFi market. This token is an innovative solution that allows Bitcoin holders to realize more diverse usage methods while ensuring asset security.

By utilizing LBTC, users can securely stake their Bitcoin while maintaining its liquidity in a tokenized form. This enables them to gain new income opportunities within the DeFi ecosystem provided by Lombard, while preserving the value of their original Bitcoin. For example, by using LBTC with automated yield optimization tools like Babylon, users can enjoy native yields exceeding those of traditional Bitcoin holdings.

Furthermore, LBTC is not just tokenized Bitcoin; it's designed with DeFi market integration and scalability in mind, ensuring interoperability with various partnerships and protocols. This allows users to efficiently manage their assets across a broad DeFi ecosystem, extending beyond the Lombard platform.

LBTC is more than just a means of asset preservation for holders; it provides a new path to unlock the potential of DeFi. This allows Bitcoin holders to go beyond traditional asset management methods and access a new, more efficient and profitable financial world.

Partnership with Babylon: New Utility for Bitcoin

Lombard, in collaboration with Babylon, has taken Bitcoin staking to a new dimension. Babylon is a decentralized protocol for utilizing Bitcoin as a security asset, and Lombard leverages this technology to connect Bitcoin to more DeFi projects and PoS networks. This allows Bitcoin holders to earn staking rewards and freely access the DeFi ecosystem without losing liquidity.

Proof-of-Stake (PoS) and the Role of Bitcoin

PoS is a mechanism where economic value is locked to support the security of a blockchain network. PoS networks require a large amount of capital to maintain their security, and high-value assets like Bitcoin can fulfill this role. Lombard believes that Bitcoin is an ideal security asset for PoS networks, accelerating the launch of new projects and supporting the growth of DeFi.

LBTC's Unique Features and Advantages

• Yield Earning Functionality: LBTC can earn native yield through Babylon staking. This allows Bitcoin holders to earn additional rewards beyond simply holding Bitcoin.
• Cross-Chain Compatibility: LBTC is issued across major blockchain ecosystems and can move seamlessly between different chains, maximizing DeFi market liquidity.
• Liquidity and DeFi Compatibility: LBTC is backed 1:1 by BTC and can be used for lending and borrowing, on DEXs (Decentralized Exchanges), and even for participating in DeFi strategies.
• High Security: LBTC offers higher security compared to centralized wrapped tokens or unsecured bridges. This is because it is supported by the consortium ecosystem provided by Lombard.

DeFi Vault: Automated Yield Management

Lombard developed the Lombard DeFi Vault to simplify the complexities of DeFi. This automated yield management solution strategically allocates deposits across various opportunities within the DeFi ecosystem to maximize BTC-denominated yields. The Vault utilizes leading DeFi strategies like Aave, Pendle, and Uniswap, eliminating the need for users to manually manage positions.

• How the Lombard DeFi Vault Works: Users deposit LBTC, wBTC, or cbBTC into the Vault and receive LBTCv receipt tokens. These tokens represent the user's share of the Vault's balance. The Vault optimizes yield according to DeFi strategies, and earned rewards are automatically compounded within the Vault.
• Fees: Users can utilize the Vault fee-free until December 1, 2024. After that, a 1.5% annual management fee will apply.

Innovation and Expertise Driving Growth

Lombard's team comprises experts from leading venture capital firms and successful DeFi protocols such as Polychain, Ripple, Argent, Coinbase, and Maple. This team has extensive experience in scaling DeFi, and by leveraging relationships with institutional investors, Lombard can play a pioneering role in Bitcoin's DeFi integration.

The Future LBTC Aims For

Lombard aims to make Bitcoin a central infrastructure of DeFi, not just a store of value. LBTC will collaborate with various DeFi projects to expand the scope of Bitcoin's usage to fulfill this new role. In this way, Lombard aims to drive new financial innovations using Bitcoin and shape the future of decentralized finance.

Lombard's innovation signifies not just the evolution of financial tools, but the arrival of an era where Bitcoin truly functions as a productive asset in the digital economy.

More information about Lombard can be found here

Lombard raised $16 million in its Seed round in July 2024 from investors including Polychain Capital and Babylon. In October of the same year, it also raised $1 million from Binance Labs.

The Golden Bull - Lombard's Reward Campaign for Bitcoin Holders

Lombard and EtherFi are currently running a special campaign called The Golden Bull for Bitcoin holders. The Golden Bull aims to leverage the bull market and provide maximum rewards to ecosystem participants. Participants can mint and hold eBTC, a Bitcoin LRT (Liquid Restaking Token), to receive rewards.

Key Details:

• Campaign Period: November 20, 2024, to December 3, 2024. To participate, you must mint eBTC from eligible assets by December 3 and hold it until January 31, 2025.
• Increased Rewards: During this period, you can earn double the usual Lux points (4x multiplier). Lux points indicate engagement and hold the potential for further rewards.
• Eligible Assets: You must use assets like LBTC to mint eBTC. eBTC is approximately 95% backed by LBTC, strongly linking it to the ecosystem.

eBTC is the first Bitcoin LRT (Liquid Restaking Token) jointly developed by EtherFi and Lombard, offering dual yield from Bitcoin staking rewards and restaking. This token is widely used in DeFi, boasting a total locked value (TVL) of approximately $500 million. It also earns rewards from Lombard, Babylon, EtherFi, and Veda Labs.

Additional Information:

• ETHFI Rewards: Users holding eBTC until January 31, 2025, will receive ETHFI rewards at the end of Season 4.
• DeFi Usage: Using eBTC in DeFi earns existing Lux points and multipliers, but no additional multiplier will be applied during this campaign period.
• Lux Tracking: Lux points earned during the campaign period will be tracked and awarded later.

More information about the Referral Program can be found here

More information about The Golden Bull can be found here

Summary of Steps

1. Connect your wallet on the website
2. Stake Bitcoin to earn LBTC and Lux
3. Earn additional Lux by utilizing LBTC in the Lombard DeFi Vault and other integrated projects
4. Invite friends to the campaign using a referral code

Detailed Steps with Images

1. Connect your wallet on the website

2. Stake Bitcoin to earn LBTC and Lux

3. Earn additional Lux by utilizing LBTC in the Lombard DeFi Vault and other integrated projects

4. Invite friends to the campaign using a referral code