Bitcoin Bera Vault
Please note: Upgrade your Bitcoin Bera Vault position to the new Sentora DeFi vault, and claim rewards, via the Berachain dapp.
The Bitcoin Bera Vault will be decommissioned in the future, once most positions have been claimed. Any remaining positions will then be wound up and principle returned. The date of this will be clearly communicated before action is taken.
Note for Bybit users: Bybit wallets do not support Berachain. If you’re using a Bybit wallet, do not initiate a withdrawal from the Bitcoin Bera Vault UI. What to do:
First, transfer your ct-shares to a wallet that supports Berachain.
Connect the wallet supported by Berachain to Bitcoin Bera Vault UI complete the withdrawal.
We’re evaluating solutions for users who already initiated with Bybit wallets. For any questions please reach out to Concrete."
Lombard has teamed up with Concrete to launch a BTC DeFi vault (similar to our Veda vault on ETH Mainnet) that allocates LBTC and WBTC into conservative DeFi strategies (DEX liquidity provision and passive lending) on Berachain in a curated and automated fashion.
Lombard and Concrete have built with Berachain, Royco, and the top projects in the Bera ecosystem to provide early access to Berachain with LBTC & wBTC.
Upon Berachain Mainnet, the Bitcoin Bera Vault operated by Concrete will deploy deposits across various strategies utilizing Dolomite and Kodiak and other partner protocols participating in Boyco.
Details:
Yield: At Berachain Mainnet, funds will be deployed into DeFi opportunities to earn DeFi yield.
Fees: no fees
Deposits:
Exclusively on Ethereum
Deposit Deadline: 2nd half of January
Deposit asset: LBTC & wBTC
Both LBTC and wBTC deposits are treated the same and earn the same rewards.
Users receive a receipt token in their wallet (ctLBTC or ctWBTC, respectively)
Withdrawals: funds will be locked until 6 May, 2025.
Whilst there is a lock-up period, receipt tokens can be transferred freely, meaning users can exit the position.
Additional Rewards:
1x Berachain, 1x Babylon, 4x Lombard, 1x Kodiak, 1x Dolomite and 4x Concrete.
Points accumulate until 14 April, when withdrawals are enabled.
Access: Users deposit LBTC or wBTC to the Bitcoin Bera Vault on Ethereum Mainnet https://www.lombard.finance/berachain/
Note on Bridging:
Bridging through Boyco contracts via Layerzero bridge. This is not the Boyco program itself. That will start in the near future, and Berachain mainnet will follow within a couple weeks of Boyco launch.
Risks Disclaimer
Lombard DeFi Vault is composed of a diverse range of DeFi products, each carrying inherent smart contract risks and varying levels of economic risk. Users should be aware that these risks can impact both the principal and yield. It is essential to carefully assess the risk tolerance before participating in the vault.
Audits & Code:
FAQs
How long after claiming do I get my BERA rewards?
BERA rewards are distributed immediately and should be available within a couple of minutes. Note that whilst anyone can claim BERA rewards from the Concrete API, as a courtesy Lombard streamlines this process and claims them for you - to save you from having to acquire network gas (BERA) on Berachain to pay for the transaction.
Why does it take 7 days to upgrade or withdraw?
The process for migrating and withdrawing positions takes 7 days due to the management of positions by Concrete. This enables time for efficient removal of capital from different deployments to re-pay user withdrawals or migrate positions.
Where's my Dolomite (veDOLO) rewards?
Distribution of these rewards is being managed by Dolomite and Concrete. Please follow their socials for updates.
Legal Note
The Lombard Protocol restricts access to users in certain jurisdictions, including the United States. For a full list of restricted parties, please visit our Terms of Service.
Note on Concrete:
The Bitcoin Bera Vault is built using Concrete Infrastructure. Read more about Concrete.
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