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Lombard Finance Brings LBTC to Solana’s Leading DeFi Ecosystem

TL;DR

• Lombard Finance launched LBTC on Solana, a token backed 1:1 by Bitcoin that offers roughly 1% annual yield in BTC and will be available on DApps.
• LBTC can operate across multiple blockchains, including Ethereum, Polygon, and Avalanche, thanks to LayerZero and RedStone Oracles.
• The protocol also launched the BARD token, raising $6.75 million for governance and protocol development.

Lombard Finance, a startup specialized in Bitcoin staking, announced the expansion of its yield-bearing asset protocol to the Solana blockchain.

With this integration, the LBTC token, backed 1:1 by Bitcoin, will be available on Solana’s main DApps from day one, including Jupiter, Drift, Kamino, and Meteora. LBTC provides users with an annual yield of around 1% in BTC and enables participation in DeFi applications while maintaining Bitcoin’s security and liquidity.

The launch of LBTC on Solana leverages LayerZero and RedStone Oracles, systems that enable communication between EVM and non-EVM chains, including Ethereum, Polygon, Avalanche, TON, Berachain, Unichain, and Manta Network. According to Lombard, the token represents the largest yield-bearing Bitcoin asset available and aims to turn BTC into productive capital within the Solana network.

LBTC reached $1 billion in total value locked (TVL) in just 92 days and currently exceeds $8 billion, according to DeFiLlama. The platform is built on Babylon, a Binance initiative focused on Bitcoin staking, with LBTC representing the staked BTC within that ecosystem. The liquidity and yield of LBTC allow users to deploy Bitcoin in DeFi strategies without compromising fund security.

Lombard Introduces the BARD Token

Additionally, Lombard introduced the BARD token through a community sale that valued the platform at $450 million and raised $6.75 million. Part of the funds will go to the Liquid Bitcoin Foundation, the entity responsible for protocol governance, oversight of partnerships, research, and grant distribution.

Jacob Phillips, co-founder of Lombard, emphasized that bringing Bitcoin to Solana creates new opportunities for BTC to be productively deployed. According to Phillips, LBTC demonstrates how Bitcoin can combine yield, composability, and market access directly, while Solana provides a high-performance environment that enables advanced DeFi strategies.

Founded in 2024, Lombard previously raised $17 million in seed funding led by Polychain Capital with participation from Franklin Templeton, Bybit, YZi Labs, and others. The startup continues to expand its protocols and tools to allow Bitcoin to operate efficiently across different blockchain ecosystems