Despite the impressive price action of Bitcoin, its decentralized finance capabilities haven’t caught on. This explains why over $2 trillion of BTC remains locked away in cold wallets when it could be put to work earning a worthwhile yield for the holders.
Lombard Finance emergence coincides with the peak apathy in Bitcoin’s DeFi prospects. Most holders were only keen on holding and trading their BTC for fiat. DeFi enthusiasts relied on other blockchains, which came with the inherent risks of exposure to third parties. Thus, Lombard’s entry in the Bitcoin DeFi space pioneered a fresh solution to a lingering crisis most bitcoiners are grateful to be rid of.
LBTC: Fastest Yield Bearing Token to Reach $1B TVL in Weeks
Before Lombard entered the Bitcoin on-chain space, yield-bearing was a discussion limited to other blockchains. Ethereum was the DeFi playground. This led to most participants wrapping their BTC and deployed it to work on DeFi apps on the Ethereum Network. This meant many users had to rely on third-party platforms and bridges to make it work. Unfortunately, many lost their Bitcoin in the process, while others were put off by the risk and complexity involved.
Lombard came with its LBTC, a tokenized Bitcoin that allows holders to stay exposed to BTC’s price action while getting the yield as their capital is put to work. LBTC’s position as the foremost yield-bearing Bitcoin asset saw it hit the $1b total value locked (TVL) in 92 days. A feat unmatched by the competition in the space.
How Does LBTC Work?
Every novel financial model endures scrutiny to ensure the benefits outweigh the risks. For LBTC, there are no external claims or reward tokens. Bitcoin holders stake their BTC and get their LBTC on whatever network they opt for. The current APY starts at 1.16%, which beats leaving your BTC in a cold wallet. Perhaps the most impressive thing about the LBTC is its inherent flexibility - you can have your LBTC in any of 12 supported blockchains. You can unstake your BTC with the accrued yield whenever you want.
Lombard’s Credibility Speaks Volume
Building in the crypto space is never easy. You need a funding source, and it’s only possible if you’ve some credibility to your brand. Lombard checks that box. They have built a fully functional on-chain Bitcoin economy with the support of prominent VCs in the space. Lombard’s current infrastructure has all the hallmarks of sustainability, including composable liquidity pools, cross-chain issuance, audits, and compliance frameworks. Anyone can tell Lombard is here to stay.
If Lombard succeeds in its quest to build the Bitcoin on-chain economy, Bitcoin DeFi will explode. For instance, Bitcoin Ruins attempted to build Bitcoin’s on-chain interest, but interest in art wasn’t strong enough. Yield is where it’s at, and Lombard is leading the charge.
What is $BARD?
Though the Lombard infrastructure caters to your BTC yield-bearing needs, proper governance and security ensure it runs fluidly. $BARD is Lombard’s native token that allows community participation in ensuring the platform runs smoothly.
Why $BARD?
Securing the Lombard Finance infrastructure requires $BARD holders to stake their $BARD. This helps protect integral Lombard components like the LBTC bridge and Ledger, keeping the ecosystem running optimally.
Benefits of holding $BARD?
Anyone holding $BARD will enjoy discounts on Lombard products and services, which is only fair considering their input in keeping the ecosystem safe. Lombard promises to expand in phases, and $BARD holders will help with that expansion. Once you hold $BARD, you can vote on proposals that revolve around roadmaps, ecosystem changes, and fee adjustments. It’s like being an insider without the illegality of insider trading.
The simplest way to be exposed to what Lombard is building is through the $BARD community sale on Buidlpad. Lombard aims to raise $6.75m through its $BARD sale. This fund is expected to help the project pursue its infrastructure expansion, meet its roadmap targets, and complete its phase completion.
About 1.5% of the $BARD supply is set aside for this sale. The token sale on Buildpad offers a path for the community to gain access to $BARD. There would be no vesting for $BARD purchased through the community sale on Buildpad. You can do your due diligence on Lombard’s $BARD community sale happening on Buidlpad here.
Conclusion
Though Satoshi’s BTC stays dormant in his wallet, yours should work for you. An immersive on-chain economy is often the best route, which is what Lombard brings to the table. Through its LBTC, your BTC evolves into a yield-bearing asset. With the $BARD sale on Buidlpad, you can become part of Lombard’s future, governing and securing its infrastructure in the years to come.
If you’re a Bitcoin holder, DeFi enthusiast, or a crypto community member, $BARD is your call at sending Bitcoin’s on-chain economy to the moon.
🔚
You can read more about Lombard Finance on their website, and follow them on X for more updates. You can also follow Buidlpad on X for more updates on promising projects and their community sales.
