What is Lombard? Bitcoin staking protocol raises $16M

1. What is Lombard?

Lombard is a staking project, focusing on exploiting the potential of Bitcoin in the field of decentralized finance (DeFi).

Lombard is named after the historic Lombard Street in London - a financial center since the Middle Ages where everyone could find opportunity.

Joining Lombard, users can earn Babylon's native staking yields, maintain token liquidity, and maximize profits in DeFi with Liquid Bitcoin (LBTC) backed 1:1 by Bitcoin being stake on Babylon.

2. Lombard and Babylonian cooperation

Lombard expands Babylon's cross-network security technology with the introduction of the "Liquid Bitcoin" token or LBTC. LBTC is Lombard's Liquid Bitcoin, with the underlying Bitcoin asset staked in Babylon to earn yield while maintaining liquidity for use in DeFi

Lombard realized that building on Babylon would drive growth across the entire decentralized economy. By developing LBTC on Babylon, Lombard increases the supply of the Babylon Bitcoin staking protocol, promotes a two-way Bitcoin security market, and drives adoption by PoS networks.

With Babylon's support, Lombard's LBTC can connect holders to more functional utilities, provide new capital for DeFi protocols, and bring security to PoS networks. LBTC can be understood as a global product, suitable for all BTC holders looking for safe passive profits through staking.

Lombard and Babylon cooperate in many aspects, including:

Babylon provides the foundation for Lombard's LBTC: Babylon's innovations create opportunities for liquid, yield-producing and low-risk tokens to be built on top of this platform. BTC staked into Lombard will be retaken into Babylon to earn yield.
LBTC represents BTC staked to Babylon, is profitable, naturally multi-chain compatible, and is backed 1:1 with BTC.
Lombard's LBTC enhances the supply side of Babylon's two-sided Bitcoin security market, created by the Babylon Bitcoin security protocol: By providing LBTC as a retaken liquidity token, Lombard makes staking possible. becoming more attractive to BTC holders.
As a result, more BTC will be staked in Babylon, significantly enhancing the supply of Babylon's two-sided security market.
Lombard will leverage Babylon's security economy: Babylon's security economy will support the intended decentralization of Lombard's Security Alliance, and Lombard will deploy its private PoS network.

Benefits for those who stake BTC

Below are the benefits that Bitcoin staking participants can receive through using Lombard's LBTC and partnering with PoS networks:

Yield: The PoS network needs to pay a fee to Babylon to receive the security, which then accumulates into LBTC as yield.
Liquidity: LBTC unlocks Bitcoin liquidity, allowing BTC holders to earn yield from staking while maintaining liquidity to move freely through DeFi and access yield opportunities additional.
Cost benefits: Proof-of-Stake requires large capital since the security of the network depends heavily on the economic value locked in validator nodes. By leveraging Bitcoin-backed security, PoS networks can minimize the amount of capital needed to protect their networks.
Crypto-economic security: Access to greater crypto-economic security than native tokens can provide.
Speed: PoS networks can launch faster and more securely without needing to build validators from scratch.

3. Tokenomics

Lombard has not yet issued tokens. Theblock101 will update the article when more information becomes available.

4. Team

Lombard 's team is made up of DeFi enthusiasts, collaborating with technology and infrastructure partners, on a common mission to bring Bitcoin to the DeFi world.

5. Investors

Lombard raised $16M led by Polychain Capital with participation from BabylonChain, Inc., dao5, Franklin Templeton, Foresight Ventures, Mirana Ventures, Mantle EcoFund and Nomad Capital.

6. Join Lombard's LBTC waiting list

Users can now join Lombard's LBTC waitlist to gain early access and receive exclusive benefits such as:

Guaranteed Access: By joining the waitlist, participants will be guaranteed early access to staking BTC and can maximize staking opportunities over time. This is especially beneficial because Lombard will have a deposit limit and may only have people on the waiting list allowed to deposit.
Exclusive Offer: Those on the waitlist will be invited to deposit before others, giving them exclusive access to LBTC. Waitlist members will also be invited to participate in community events and initiatives with partner protocols, chains and wallets over time.
Rewards: The project is monitoring LBTC usage ahead of future rewards. Users can earn Lombard Points for depositing BTC and interacting in the Lombard ecosystem.

Once on the waitlist, participants will receive updates from Lombard directly via their registered email address. You can join the LBTC waiting list here: https://lombard.finance/#LBTC_waitlist.

7. Roadmap

Lombard 's development roadmap is divided into three stages as follows:

Phase 1: Private Beta: introducing Lombard and LBTC.

Currently, Lombard is operating on the Ethereum mainnet in Private Beta mode. Eligible members are participating in BTC staking and generating LBTC secured 1:1 in BTC.

During phase 1, LBTC holders should expect LBTC to be highly liquid, with only a few opportunities to use LBTC in DeFi and earn Lombard Points from participating early.

Phase 2: Public Beta: public launch of LBTC and deposit limits

In phase 2, LBTC holders can look forward to highly liquid LBTC, with many opportunities to use LBTC in DeFi on Ethereum mainnet and several other leading chains, and earn Lombard Points for early participation .

Phase 3: Public Launch: remove deposit limit

In phase 3, users can use LBTC in DeFi, across chains and ecosystems, and earn Lombard Points for participating early.

Lombard's phased launch is designed to safely and sustainably bring Bitcoin into the DeFi world. From careful testing in Private Beta to slowly expanding public access in Public Beta and finally unlimited expansion, each phase is a step towards a friendly ecosystem. User-friendly.

8. Conclusion

Above is an article about Lombard - a staking protocol that raised $16M. Currently, the project has not launched tokens yet, so you can register to join the waiting list and participate in staking to have a chance to receive airdrops from the project in the future.

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