Lombard's Security Consortium
Lombard is committed to building trust-minimized infrastructure.
Members of the Security Consortium ensure there is no single point of failure, with multiple independent parties validating transactions on the Lombard protocol. Multi-party approvals and time locks for governance decisions further minimize counterparty risk, ensuring LBTC’s integrity within the ecosystem.
The Lombard Security Consortium is a network-owned initiative governed and secured by Bitcoin-aligned digital asset institutions. Through collective consensus from independent parties with uncorrelated security setups, the Consortium facilitates every transaction on the Lombard protocol, including mints, redemptions, staking and bridging.
This design eliminates single points of failure by requiring the majority of validators to reach consensus on every transaction. This decentralized approach ensures the highest levels of security, while transparency is achieved by recording all activities on the Lombard Ledger, a Byzantine fault-tolerant blockchain, which provides a verifiable and immutable record of operations.
The Role of the Consortium
The Lombard Security Consortium operates with an emphasis on decentralization, where members operate independently to reach consensus and securely validate every transaction on the protocol. Key responsibilities include:
Staking & Unstaking: Consortium members facilitate staking transactions to lend economic security to Bitcoin Secured Networks, via the Babylon ecosystem.
Transaction Validation: Members verify Bitcoin deposits and authorize the minting of new LBTC into circulation. For redemptions, members uphold protocol rules to honour withdrawals within the specified time window.
Protocol Governance & Upgrades: The Consortium oversees protocol upgrades and ensures security standards are upheld across supported blockchains.
Cross-Chain Bridging: Members enable the secure and seamless bridging of LBTC across multiple blockchain environments, providing additional security on-top of Chainlink CCIP, a similar approach taken as Circle to secure USDC across chains.
Meet the Inaugural Members
We are proud to introduce the inaugural members of the Lombard Security Consortium, a collective of 14 leading digital asset institutions committed to securing Bitcoin’s role as a productive asset in the digital economy.
Leading Crypto Institutions
Galaxy – Galaxy is a digital asset leader bridging financial services, blockchain infrastructure, and Web3 innovation.
OKX – A global cryptocurrency exchange and Web3 platform.
Leading Market Makers
Amber – A global digital finance leader offering wealth management, asset management, and liquidity solutions.
Wintermute – A leading algorithmic trading firm focused on building liquid and efficient markets in digital assets.
Leading Mining Pools
Antpool – AntPool, a leading cryptocurrency mining platform, is dedicated to delivering high-quality multi-currency mining services.
F2Pool – F2Pool is a global mining pool securing Bitcoin and 40+ PoW networks since 2013.
Leading Institutional Validators
Chorus.one – Chorus One is a leading institutional staking provider for 50+ Proof-of-Stake networks.
Figment – A leading blockchain infrastructure and staking provider, offering institutional staking and blockchain infrastructure for PoS networks and Web3.
Kiln – Kiln is a leading enterprise platform for institutional digital asset rewards and white-label earning solutions.
P2P – P2P offers non-custodial staking infrastructure for Web3 wallets, exchanges, and custodians.
Security & Research Partners
Cubist – A security-first technology company specializing in cryptographic infrastructure.
Informal Systems – Providing security audits, protocol design, and formal methods for blockchain applications and infrastructure.
Nansen – Nansen is the leading onchain analytics platform trusted by the top crypto teams and investors.
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