Bitcoin-staking startup Lombard Finance has deployed its yield-bearing LBTC token on the Solana blockchain, widening access to a product that lets holders earn about 1% annual yield while maintaining full Bitcoin backing
Bitcoin-staking startup Lombard Finance has deployed its yield-bearing LBTC token on the Solana blockchain, widening access to a product that lets holders earn about 1% annual yield while maintaining full Bitcoin backing.
LBTC is issued through a decentralized validator consortium that provides real-time proof-of-reserves. The token has amassed more than $1.5 billion in circulation across multiple networks, after reaching $1 billion in total value locked within 92 days of its initial release earlier this year.
The move brings native Bitcoin liquidity to Solana’s decentralised-finance applications and follows Lombard’s earlier integrations with Ethereum, Base, Sui and BNB Chain. The company says deep liquidity incentives are in place on Solana from launch.
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