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  • Introduction
  • How to deposit and withdraw from the Vault:
  • FAQS:
  1. LBTC: Liquid Bitcoin
  2. User Guides

Lombard DeFi Vault: Depositing & Withdrawing

A comprehensive guide to depositing into the Lombard DeFi Vault.

Introduction

This section explains the process of depositing and withdrawing assets into the Lombard DeFi Vault. The vault allows users to deposit LBTC and on-chain BTC derivatives to earn yield via automated deployment in various DeFi strategies. You can read more about the Vault's activities here. User depositing into the vault receive the receipt token LBTCv. This token can only be redeemed for LBTC.

Withdrawal's take three days to be processed. You cannot initiate a new withdrawal while a withdrawal is pending.

How to deposit and withdraw from the Vault:

From the Lombard DeFi Vault module, you can select deposit or withdraw.

Note: note the network you are connected to in the upper-right hand corner, this is where your LBTC will be deposited and where you will receive LBTCv.

FAQS:

  1. Is 1 LBTCv = 1 LBTC? No. Check out our LBTC/LBTCv page.

  2. Are cross-chain deposits feasible? No. Currently, cross-chain withdrawals are no feasible. (Stay tuned for updates!)

  3. I can't see my LBTCv balance in my wallet? You can manually import the token. The token address is 0x5401b8620E5FB570064CA9114fd1e135fd77D57c

  4. Why is my withdrawal not being processed? TL;DR: The most common case that has lead withdrawals being cancelled is due to wallet/tool safety features. These features blanket reject all approvals automatically after some period of time. This causes the withdrawal to be cancelled. Approval must be enabled throughout the three-day withdrawal period. Further Info: Withdrawing from the vault is a two-step process: 1) A user first signs a message giving the vault permission to issue approval for the queue to spend vault tokens to fulfil the withdrawl request. 2) The queue contract receives the withdraw request and fulfils after 3 days. For more info, check out Veda's documentation.

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Last updated 12 days ago