Lombard is a protocol building onchain Bitcoin capital markets. Its system centers on LBTC, a liquid staked Bitcoin token minted against native BTC staked through Babylon. BARD is Lombard’s governance and utility token. The project launched in 2024 and reports $1 billion in TVL in 92 days and over $2 billion of net-new liquidity across 12 blockchains. Lombard states that more than 80% of LBTC is active in DeFi and that vault strategies have activated over $600 million across new ecosystems.

Key features

• Bitcoin staking via Babylon: Users can stake BTC directly with Babylon finality providers or through Lombard to mint LBTC, keeping liquidity while earning yield.

• Security model: Operations are validated by the Lombard Security Consortium (institutions such as Galaxy, DCG, OKX, Wintermute, Amber, Antpool, F2Pool), with multi-party approvals and timelocks. LBTC bridging uses Chainlink CCIP alongside consortium authorization.

• Finality providers: Lombard initially operated the largest finality provider, then partnered with Figment, Galaxy, Kiln, and P2P to decentralize validation across Babylon Genesis.

Supported chains (LBTC availability)

Lombard documents LBTC on Ethereum, Base, BNB Smart Chain, Babylon, Solana, Sui, and others. “Native with Chainlink” chains support mint/redeem from native BTC; “Lock & Mint” and “Canonical” rely on bridging. See the Supported Blockchains page for the current matrix.

Governance and consensus mechanism

• Governance: BARD holders govern via the Liquid Bitcoin Foundation.

• Lombard Ledger: A Cosmos app-chain validated by consortium members, recording protocol actions such as mints, redemptions, staking, and bridging.

• Babylon/BSNs: Native BTC is delegated to finality providers on Babylon; BSNs inherit economic security from staked BTC.