Imagine, if you will, Lombard Finance-those daring pioneers of the crypto frontier-launching their newest marvel: a yield-bearing bitcoin token, LBTC, now prancing about on the Solana blockchain like a dashing outsider. Because, heaven forbid, even crypto needs a little amusement, right? 🥂
Lombard’s LBTC Now Making Its Grand Entrance on Solana
According to the gods of news at TopMob, over $1.5 billion-yes, that’s billion with a ‘b’-of liquid staked bitcoin (BTC) has decided to pack its bags and check into the Solana DeFi hotel. \nUnlike the usual bitcoin derivatives-which, frankly, have about as much personality as a damp sock-LBTC promises an elegant yield of roughly 1%, all neatly denominated in Bitcoin itself. Fancy that! This means BTC holders can, if they’re feeling particularly daring, put their assets to work in Solana’s lightning-fast, budget-friendly playground. 🎢
Supporting this spectacle are some of Solana’s top-tier protocols-Jupiter, Drift, Kamino, Meteora-all proudly backing the launch with the enthusiasm of a kid in a candy store. Layerzero waltzes in, enabling cross-chain magic, while Redstone Oracles supply the ever-important price feeds. And, thanks to a partnership with Meteora, swapping wrapped bitcoin tokens like ebBTC for LBTC costs almost nothing-because who doesn’t love near-free exchanges? 🤷♂️
Jacob Phillips, Lombard’s co-founder-probably wearing a monocle-claimed, “LBTC shows what happens when bitcoin gains yield, composability, and real market access.” Essentially, turning Bitcoin from a boring, passive piggy bank into a lively participant in DeFi’s carnival of perpetual trading, borrowing, and liquidity galore.
Meanwhile, Jiani Chen of the Solana Foundation rolled out the red carpet, saying, “LBTC’s native yield and DeFi integrations open up an exciting new chapter for Solana DeFi.” Because nothing says ‘party’ like integrating a Bitcoin that actually does something-besides just sitting there, looking pretty. And all of this is turbocharged by incentive programs designed to make everyone jump on the bandwagon faster than you can say ‘moonshot.’ 🚀
Backed 1:1 by Bitcoin held under the watchful eyes of a squad of 14 stone-cold institutional custodians, LBTC boasts real-time proof of reserves and automatically accrues yield-so users can nap while their profits quietly pile up. 💤💰
This move to Solana signals Lombard’s latest scheme in turning Bitcoin into a full-fledged, multichain capital markets superstar. Users can now mint, swap, or bridge LBTC directly on Solana, because apparently, nothing is sacred anymore. 🎭
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2025-08-28 23:10