Lombard is a liquid restaking protocol built on Babylon, connecting Bitcoin with the DeFi world. So what is Lombard? Let's dive into the article below.

Key Takeaways

• Lombard is a liquid staking protocol designed to increase the usecase of BTC.
• Lombard's core product is Liquid Bitcoin (LBTC), is an ERC-20 standard liquid restaking token backed 1:1 by BTC staked into the Babylon protocol via Lombard.
• LBTC helps solve the limitation of Babylon that BTC staked into this protocol cannot be used in DeFi protocols and takes a period of time to unstake.

What is Lombard?

Lombard is a liquid staking protocol designed to increase the usecase of BTC. The platform allows users to stake BTC to receive LBTC (liquid staking token) and APR.

Lombard's goal is to support BTC holders to participate in DeFi activities, while increasing network security for participants.

What is Lombard’s Product?

Lombard's core product is Liquid Bitcoin (LBTC), an ERC-20 standard liquid restaking token backed 1:1 by BTC staked into the Babylon protocol via Lombard. LBTC helps solve the limitation of Babylon that BTC staked into this protocol cannot be used in DeFi protocols, and takes a period of time to unstake.

LBTC helps increase profits for holders through the following cases:

• APR profit rate from staking.
• Lombard Point: Reward points from the project, helping users have the opportunity to receive airdrops in the future.
• Participate in DeFi activities such as AMM, lending & borrowing... to optimize capital.

How does Lombard work?

Lombard introduces a streamlined model that unlocks additional value from Bitcoin holdings:

• Stake and Mint: Users deposit their BTC into Lombard and mint LBTC, a liquid representation of their staked Bitcoin. This ensures that while the original BTC remains locked, users still have an asset (LBTC) they can actively use.
• Restaking on Babylon: The deposited BTC is then restaked on Babylon, a security-focused protocol designed to strengthen proof-of-stake networks.
• Utility of LBTC: Holders of LBTC are not limited to passive rewards. They can keep LBTC to accrue staking yield or deploy it across various DeFi protocols.
• Flexible Redemption: Users can unstake their LBTC to redeem the equivalent amount of BTC. This flexibility provides liquidity and ensures that users retain full control over their assets without being locked into long-term commitments.
• Capital Efficiency: By introducing LBTC, Lombard enhances capital efficiency, allowing users to maintain yield exposure from staked BTC while simultaneously accessing DeFi opportunities.

What is the benefit of BTC holders?

Benefits for Bitcoin Stakers who use LBTC through Lombard and PoS Networks:

• Yield: PoS networks must pay fees to Babylon in exchange for security. These fees are then accumulated into LBTC as yield for participants.
• Liquidity: LBTC unlocks Bitcoin’s liquidity, allowing BTC holders to earn staking yields while still maintaining the flexibility to move freely across DeFi and access additional yield opportunities.
• Cost Efficiency: Proof-of-Stake requires significant capital, as network security heavily depends on the economic value locked within validator nodes. By leveraging security backed by Bitcoin, PoS networks can reduce the amount of capital required to secure their networks.
• Crypto-economic Security: Access to a higher level of crypto-economic security than what native tokens alone can provide.
• Speed: PoS networks can launch faster and more securely without the need to build validator infrastructure from scratch.

Lombard Tokenomics & Fundraising

Tokenomics

Currently, Lombard has not announced any official tokenomics for the project. Whales Market will update immediately when the official Lombard website announces.

Fundraising

Lombard has raised a total of ~ $24M, including $17M from Seed Rounds at JUL 02, 2024 and $7M at Public Sale. Leading the funding round is Polychain Capital with the participation of many other investment funds such as OKX Ventures, Mirana Ventures, HTX Ventures, Robot Ventures…

Lombard (BARD) Listing Information

Here are important details revealed to BARD:

• Listing time: TBA
• Confirmed CEX Listings: TBA
• Pre-market Price (Whales Market): TBA

BARD token usecase

Lombard (BARD) provides three primary functions within the Lombard ecosystem:

• Staking for security: BARD tokens are staked to secure the LBTC bridge, which transforms Bitcoin into LBTC. This assures that the protocol is stable, decentralized, and resistant to assaults.
• Governance Participation: BARD holders can vote on protocol improvements, integrations, and incentive structures, providing the community a direct say in Lombard's growth and direction.
• Reward and Ecosystem Benefits: Holders of BARD get yield rewards and protocol benefits such as lower fees and preferred participation in future Lombard initiatives.

Lombard Roadmap & Team

Roadmap

The development roadmap of the Lombard project is divided into 3 phases:

• Phase 1 - Private Beta: Allows eligible users to participate in staking BTC to mint LBTC.
• Phase 2 - Public Beta: Allows anyone to experience. However, this phase will limit the amount of BTC staked by each user.
• Phase 3 - Public Launch: Allows all users to participate, and there is no limit on the amount of BTC staked.

Team

Lombard development team has many years of experience in different fields, especially technology as most of them come from prominent companies in Web2 such as Meta, TikTok. The team includes:

• Jacob Phillips: Co Founder
• Matthew Marshall: Head of Product
• Sankha Banerjee: Head of Research

Conclusion

Lombard Finance represents a powerful tool for crypto investors seeking financial flexibility without abandoning their market positions. By allowing users to stake Bitcoin and mint LBTC, Lombard unlocks the liquidity of traditionally illiquid assets. Instead of choosing between holding BTC for long-term appreciation or deploying it for yield, investors can now do both simultaneously.

Disclaimer: This article is for informational purposes only, not investment advice, and Whales Market is not responsible for any of your investment decisions.

FAQ

1. How to trade $BARD (Lombard) on Whales Market?

If you want to trade $BARD (Lombard) on Whales Market, you can either create an offer or buy/sell from other users’ offers. For full details, please read the Whales Market docs. Whales Market is the leading pre-market DEX to trade pre-TGE tokens and allocations, with over $300 million in volume, no middlemen, fully trustless and on-chain.

2. Who are Lombard backers?

Lombard backers include Polychain Capital, OKX Ventures, Mirana Ventures, HTX Ventures, Robot Ventures.

3. How much has Lombard raised?

Lombard has raised ~$24M fromPolychain Capital, OKX Ventures, Mirana Ventures, HTX Ventures, Robot Ventures.

4. When is Lombard TGE?

Lombard’s TGE has not been officially announced.

5. What is Lombard (BARD)?

Lombard is a liquid staking protocol designed to increase the usecase of BTC.

6. When is Lombard listing?

Currently, Lombard hasn't announced any plans for CEX listing.

7. What is the core product of Lombard?

Lombard's core product is Liquid Bitcoin (LBTC), is an ERC-20 standard liquid restaking token backed 1:1 by BTC staked into the Babylon protocol via Lombard.