Depositing BTC to Receive BTC.b

A comprehensive guide to receiving BTC.b, by depositing native BTC.

Overview:

This guide walks you through depositing native Bitcoin (BTC) and receiving BTC.b tokens. BTC.b is a 1:1 Bitcoin-backed asset that provides permissionless access to Bitcoin in DeFi without KYC requirements.

Introduction:

To mint BTC.b, you will first need to enter an EVM address, then send a BTC transaction to a deposit address provided by Lombard's Consortium. Once confirmed, BTC.b will be minted to your connected wallet.

How to deposit BTC and mint BTC.b:

1. Connect and select your network: Navigate to https://www.lombard.finance/app/ and connect your EVM wallet (MetaMask, OKX, etc.). Select the chain before depositing, your portfolio will show BTC.b and LBTC modules even with zero balances.

2. Access the deposit interface: Two paths available:

3. Portfolio: Click "Add" on your BTC.b balance module

4. Sidebar: Select "Staking"

5. Both lead to the same interface since BTC.b minting is technically a staking operation.

6. Choose your deposit method

7. "Stake from your wallet": For Bitcoin-compatible wallets connected directly.

8. "Stake on the Bitcoin network": Generates your permanent deposit address for sending from any external source - exchanges, cold storage, or incompatible wallets.

9. Send your BTC / Complete your transaction. Enter your amount (minimum 0.0002 BTC) and proceed. If you have connected your Bitcoin wallet then simply complete the transaction prompted by the UI.

10. Confirmation and minting Track progress via "View staking activity" in your Portfolio. The interface shows three stages: detection (transaction broadcast), confirmations (6 required, ~60 minutes), and minting.

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FAQ:

Can I send multiple deposits to the same address? Yes! Your address is permanent. Send as many deposits as you want, anytime.

Is there a maximum deposit? No limit. The protocol handles any amount above 0.0002 BTC.

What happens if I send less than 0.0002 BTC? Amounts below 0.0002 BTC cannot be processed and will be lost. Always verify you're sending above the minimum.

What if I'm connected to the wrong network when sending? BTC.b mints to the network the address was generated for, not your current selection. Always verify your network before generating an address.

Why does OKX Wallet show zero balance? OKX stores BTC across different address types. Select the correct type (Native SegWit, Taproot) in OKX settings, then refresh Lombard.