The next wave of Bitcoin capitalization, Bitcoin has long been regarded as the "digital gold" of the crypto world, sought after for its value storage and anti inflation properties, attracting a large number of long-term holders. However, with the rapid development of on chain finance, the untapped potential of Bitcoin in terms of capital efficiency is becoming increasingly prominent. Ethereum has given birth to a liquid staking token (LST) ecosystem through its staking mechanism - stETH not only allows ETH holders to receive staking profits, but also enhances DeFi liquidity and capital composability. In contrast, although Bitcoin continues to lead the market with a market share of about 60% and a market value of about $2.4 trillion, its on chain operability, revenue generation, and composability have long been limited - leaving huge room for the development of BTC DeFi. Bitcoin should be considered one of the strongest collateral in the world today, but its potential for returns has not yet been fully unleashed. Where is the real demand for Bitcoin? Besides hedging, could the massive trillion dollar amount also become the cornerstone of on chain finance. If the success of stablecoins is to create a new market out of thin air, then activating Bitcoin is to awaken an existing, larger market. Even if only 5% of dormant BTC is activated - equivalent to 40% of the total stablecoin market value and close to three-quarters of the current DeFi TVL - the impact on market structure and interest rate curves is self-evident. In the past year, the focus of discussions in the cryptocurrency market has gradually shifted from short-term speculation to asset efficiency and on chain profit generation. The staking economy of Ethereum has matured, and liquid staking assets such as stETH have unlocked new capital utilization strategies: users can deploy these assets to DeFi to stack additional profits while obtaining staking benefits. Meanwhile, as the largest cryptocurrency asset by market value, Bitcoin has always lacked a similar mechanism. Most BTC holders either choose to idle their assets or rely on centralized exchanges for limited returns, limiting their ability to actively participate in on chain capital operations. The Lombard project emerged as a result Just when everyone was accustomed to the "slumber" of Bitcoin, Lombard's project was pushed out. @LombarddFinance is a blockchain protocol focused on integrating Bitcoin (BTC) into centralized finance (DeFi), aiming to unleash the potential of Bitcoin through its flagship product LBTC (Liquid Staked Bitcoin), transforming its role from a simple value storage tool to a productive financial tool. By using Liquid Staking and Restaking mechanisms, Bitcoin holders can earn profits and participate in the DeFi ecosystem while maintaining liquidity. LBTC is an institutional level high-yield Bitcoin, 100% supported by BTC, and can be freely combined in DeFi. Its passive benefits come from pledging the underlying BTC to Babylon's Bitcoin staking protocol, allowing fund allocators to achieve asset growth while maintaining core exposure to Bitcoin. Compared with WBTC, LBTC has added a revenue attribute; Compared with decentralized packaging solutions such as tBTC, LBTC has more advantages in terms of security and liquidity. The launch of LBTC fills a key gap in the liquidity of Bitcoin staking, allowing BTC investors to participate in on chain "capital operations" like ETH holders. You can understand it this way: you hand over your Bitcoin (the sleeping gold bar) to Lombard, the "steward", and Lombard will give you a 1:1 voucher, which is LBTC. This LBTC represents your ownership of Bitcoin, but it is no longer sealed and can freely circulate on various active public chains such as Ethereum, Sui, Base, etc., earning a 1% annualization. You can use LBTC to mortgage loans on Aave, earn commission fees on Curve Group LP, and participate in various DeFi activities that you previously could only participate in with ETH and stablecoins. Your Bitcoin has finally transformed from an asset that can only be viewed to a capital that can generate money. Business performance Since its launch in August 2024, over a year has passed since the establishment of a complete capital market foundation for Bitcoin blockchain finance, starting from a single product 1) Exceeding 1 billion US dollars in 92 days! LBTC has become the fastest-growing revenue token in history; (Figure 1 below) 2) Nowadays, TVL has exceeded 1.8 billion US dollars (approximately 18000 BTC) and has over 54000 users. The daily trading volume of LBTC exceeds $200 million, demonstrating strong interest from institutional and retail investors, with Lombard occupying 50% of the Bitcoin liquid staking token market. 2) Ignite Bitcoin DeFi! LBTC has integrated core protocols such as Aave, Morpho, Maple, Pendle, Etherfi, and EigenLayer 3) Institutional participation in co building security! OKX, Galaxy, Wintermute, DCG, and others join the Security Consortium to safeguard decentralized Bitcoin. 4) LBTC on chain activity>80%! The Vault strategy has deployed over $600 million in assets, with significant ecological benefits such as Berachain (350M) and TAC (100M). Hardcore team and background Such dazzling achievements are also inseparable from the hardcore team behind them. Lombard founder Jacob Phillips @ JacobPPhills was a former partner of Polychain Capital Ventures, and other core members come from companies such as XRP, Argent, Coinbase, and Maple, with rich experience in DeFi project development and operation. Lombard has attracted funding support from several top cryptocurrency investment institutions, demonstrating its strong potential in the Bitcoin DeFi field. In July 2024, Polychain Capital led a seed round financing of $16 million, with other participants and partners including YZi Labs Binance Labs）、OKX Ventures、HTX、Bybit、Bitget、Babylon Chain、DAO5、FTI Global、Foresight Ventures、Mirana Ventures And 0xMantleEco Fund. for the future Starting from LBTC, Lombard's ambition goes beyond that. According to their roadmap, what they want to build is a complete Bitcoin capital market platform, a "whole family bucket" service. This includes: Lombard SDK: Enable exchanges like Binance and Bybit to integrate Bitcoin interest earning functions with just one click (it's not surprising that these top exchanges already exist among their investors and partners). Lombard Ledger: A secure cross chain settlement layer specifically designed to handle the flow of Bitcoin. Vaults: Provide diversified return products for users with different risk preferences, such as basis trade vaults. Lombard did not attempt to change Bitcoin, but instead built a bridge for Bitcoin, a bridge to the bustling DeFi world. This gives the market a clear narrative and an imaginative space worth looking forward to. Recently, Lombard protocol has launched native BARD tokens and conducted pre launch community sales on Buidlpad. Community sales will raise $6.75 million by allocating 1.5% of the total BARD supply on Buidlpad, which means a fully diluted valuation of $450 million. Sales will begin at 12:00 pm on August 26th for KYC registration and subscription, and end at 11:59 am on August 29th. Eligible participants can donate between September 1st and September 2nd, and settlement and refund arrangements will be made before 2pm on September 4th. Users can participate on Buidlpad using USD1 stablecoin, BNB, or LBTC. If you are interested, you can follow us