What is Lombard?

Lombard is a decentralized finance (DeFi) protocol that enhances Bitcoin's utility by integrating it into the DeFi ecosystem. Its primary offering, LBTC, is a liquid staked token representing Bitcoin, maintaining a 1:1 backing with BTC. LBTC allows holders to earn staking yields via the Babylon protocol while retaining liquidity for participation in various DeFi activities, such as lending, borrowing, and yield farming. Lombard's DeFi Vault accepts LBTC, wBTC, and cbBTC deposits, automating yield management by allocating assets across multiple DeFi strategies to maximize returns. The protocol employs a security consortium and hardware-backed key management to ensure the safety of user assets.