Lombard Finance has introduced its yield-bearing Bitcoin token, LBTC, to the Solana blockchain, expanding the asset\u2019s circulation to one of the industry\u2019s largest smart-contract networks<\/p>\n
Lombard Finance has introduced its yield-bearing Bitcoin token, LBTC, to the Solana blockchain, expanding the asset\u2019s circulation to one of the industry\u2019s largest smart-contract networks. The SPL-formatted coin is fully backed by bitcoin and pays holders roughly 1% annualised yield, with more than US$1.5 billion already issued across multiple chains.<\/p>\n
LBTC is secured by a decentralised validator consortium that provides real-time proof of reserves, allowing users to earn yield without giving up custody of the underlying bitcoins. The token debuted earlier this year and amassed US$1 billion in total value locked within 92 days on Ethereum, Base, Sui and BNB Chain, according to project disclosures.<\/p>\n
On Solana, LBTC is immediately tradable or deployable as collateral through leading decentralised-finance venues including Jupiter Exchange, Kamino Finance, Drift Protocol and Meteora. Lombard says the rollout marks a step toward making its platform for bitcoin liquidity as foundational to the crypto ecosystem as leading stablecoins are to dollar transactions.<\/p>\n