Staking BTC

A comprehensive guide for staking BTC.

Introduction

Users stake BTC into Lombard by depositing to a unique bitcoin address from any bitcoin wallet. This includes any DeFi wallet, hardware wallet, or centralised exchange which allows you to make a transfer on the bitcoin chain to a SegWit bitcoin address.

To deposit into Lombard, you must first select the destination you wish to mint LBTC to. Whilst this feels counter-intuitive, it’s because Lombard generates the bitcoin deposit address based on the destination chain (initially only Ethereum mainnet) and destination address, so it’s only possible to claim on this chain and the address that was used for generation.

Video Demonstration

Step-by-Step Guide

Step 1: Access the Lombard Staking Platform

Visit the Lombard Finance platform and navigate to the “Launch App” button.

Step 2: Connect Your Wallet

Click the “Connect Wallet” button in the top-right corner of the screen. Select the Ethereum wallet that you will mint LBTC from, after staking BTC in a later step.

Choose from a list of Ethereum supported wallets, e.g. MetaMask, OKX Wallet, Tomo Wallet, or Bitget Wallet

Step 3: Confirm Wallet Connection

After selecting your wallet, confirm the connection through the wallet interface. You will sign a small message to prove ownership of this wallet, as it's the only wallet LBTC can be minted from in a later step.

Step 4: Initiate Staking

Click the “Stake BTC” button on the dashboard

Step 5: Select LBTC Destination Network

Choose the LBTC destination network from the dropdown list, and confirm the LBTC destination address.

Step 6: Choose Staking Method

Stake BTC by sending BTC on the Bitcoin network to the address provided. This is a SegWit address and thus has compatibility with any BTC wallet: a centralized exchange, hardware wallet, or DeFi wallet.

For convenience, we have integrated shortcuts with the following BTC wallets: OKX Wallet, Xverse, and Bitget.

Steps 7–9 are if you are using a BTC wallet shortcut instead of depositing directly.

Step 7: Enter Staking Amount (BTC Wallet only)

Input the amount of BTC you wish to stake. The system will show the equivalent LBTC you will receive.

Step 8: Confirm Transaction in Wallet (BTC Wallet only)

Confirm the staking transaction in your connected wallet.

Step 9: Transaction Processing (BTC Wallet only)

Your staking transaction will be processed, and the status will be updated on the dashboard.

Step 10: Monitor Staking Progress

Once the staking process has been initiated, you can monitor the progress on the Lombard dashboard. Here you’ll also see when your staking is in progress, your current LBTC balance, and transaction details—including the hash and destination network.

The process to initiate staking requires six mainnet confirmations from the Lombard consortium. The confirmation status will be displayed on the dashboard, updating in real-time.

After receiving six confirmations (approximately 60 minutes), the “Mint LBTC” button will become active, allowing you to mint your LBTC to your selected destination chain address.