Products Overview
Products Overview
Lombard provides the infrastructure for Bitcoin Capital Markets onchain. The protocol transforms idle BTC into productive, yield-earning capital that moves freely across blockchains while maintaining institutional-grade security through a consortium of leading digital asset firms.
Lombard's product suite addresses three core needs: representing Bitcoin onchain, earning yield on Bitcoin, and building applications with Bitcoin.
Assets
Lombard issues two Bitcoin-backed tokens, each designed for different use cases.
LBTC — Liquid Staked Bitcoin
LBTC is Lombard's flagship product: a yield-bearing Bitcoin token backed by BTC staked through the Babylon protocol. When you deposit BTC with Lombard, your Bitcoin is staked to secure Proof-of-Stake networks known as Bitcoin Secured Networks (BSNs). In return, you receive LBTC, a liquid token you can use across DeFi while your underlying BTC earns yield.
Unlike traditional staking where your assets are locked, LBTC gives you full liquidity. You can lend it, provide liquidity, use it as collateral, or bridge it to other chains, all while continuing to earn staking rewards.
LBTC uses a non-rebasing design. Rather than receiving additional tokens, the exchange rate between LBTC and BTC increases over time as yield accrues. Each LBTC becomes redeemable for progressively more BTC, making it straightforward to track your position's value.
BTC.b — Bridged Bitcoin
BTC.b is a non-yield Bitcoin asset designed for users who need strict 1:1 BTC parity. Originally launched by Ava Labs, BTC.b was acquired by Lombard in October 2025 to provide a complementary product for different use cases.
Where LBTC is optimized for earning yield over time, BTC.b is optimized for speed and simplicity. The exchange rate is always exactly 1:1 with BTC, redemptions are faster, and there's no yield mechanism to consider. This makes BTC.b well-suited for trading, short-term collateral needs, and applications where predictable pricing matters more than yield.
Together, LBTC and BTC.b give users flexibility: hold LBTC for long-term yield accumulation, or use BTC.b when you need straightforward Bitcoin representation without the yield component.
Vault Shares
Lombard Vaults provide automated DeFi yield strategies for Bitcoin holders. Rather than manually deploying your Bitcoin across protocols, you deposit into a vault and receive share tokens representing your position. The vault handles strategy execution, rebalancing, and yield optimization.
The Lombard DeFi Vault accepts multiple Bitcoin assets and deploys them across curated DeFi strategies. This allows holders to earn additional yield on top of LBTC's base staking rewards through lending, liquidity provision, and other DeFi opportunities.
→ Learn more about Vault Shares
Infrastructure
Lombard's infrastructure layer provides the security, bridging, and developer tools that power the ecosystem.
Security Consortium
The Lombard Security Consortium is a network of institutional members operating the Lombard Ledger, a transparent verifiable blockchain. Every critical operation — deposits, mints, redemptions, and cross-chain transfers — requires cryptographic signatures from a supermajority of consortium members. This distributed trust model ensures no single party can compromise the protocol.
→ Learn more about the Security Model
Cross-Chain Infrastructure
LBTC and BTC.b are natively available across multiple blockchains. Lombard uses industry-standard bridging infrastructure, custom built with Chainlink, to enable secure cross-chain transfers. The protocol implements dual verification where both the bridge validators and the Security Consortium must approve all transfers.
→ Learn more about Bridging Architecture
Bitcoin Connect
Bitcoin Connect is Lombard's builder platform for integrating Bitcoin functionality into applications. Connect provides the infrastructure for staking flows, redemptions, cross-chain transfers, and portfolio tracking.
The Lombard SDK is a complete, deployment-ready toolkit within Connect for launching onchain Bitcoin products and strategies.
Yield
Lombard unlocks yield opportunities for Bitcoin through native staking and DeFi integrations.
Bitcoin Staking
Lombard stakes deposited BTC to secure Proof-of-Stake networks without bridging or wrapping. When you hold LBTC, your underlying Bitcoin is actively securing Bitcoin Secured Networks (BSNs). These networks pay for Bitcoin security in their native tokens, which are converted to BTC and reflected in LBTC's increasing exchange rate.
This is native Bitcoin yield, not lending, not liquidity mining, but genuine staking rewards from providing economic security to blockchain networks.
→ Learn more about how yield works
DeFi Integrations
LBTC is integrated across major DeFi protocols, enabling holders to compound yield through lending, liquidity provision, and restaking. You can supply LBTC to lending markets like Aave and Morpho, provide liquidity on DEXs like Uniswap and Curve, or explore yield strategies through aggregators like Pendle.
Because LBTC is an ERC-20 token available on multiple chains, it works seamlessly with existing DeFi infrastructure. The base staking yield continues to accrue regardless of how you deploy your LBTC.
Lux Rewards
The Lux program rewards users for holding and deploying LBTC across the ecosystem. Participants earn Lux points based on their activity, which convert to BARD token allocations at the end of each season. Activities include holding LBTC, depositing into vaults, and referring new users.
Next Steps
Assets — Deep dive into LBTC, BTC.b, and Vault Shares
Infrastructure — Technical details on Bitcoin Connect and APIs
Yield — Understanding Bitcoin staking and DeFi yield strategies
Protocol Architecture — How Lombard's security model works end-to-end
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