Lombard Network was founded to solve Bitcoin liquidity in DeFi. The project is backed by a 14-member Security Consortium composed of independent institutional entities with uncorrelated security setups. Bitwise, a major crypto asset manager, has partnered with Lombard, with CEO Hunter Horsley publicly endorsing the ecosystem. The team has completed over 10 security audits and processed more than 500,000 transactions.

Lombard launched in late 2024 and rapidly scaled to over $3B in BTC onboarded within months. The protocol integrates with 50+ DeFi protocols across Ethereum, BNB Chain, Base, Starknet, and other major chains. It has achieved 70% market share in yield-bearing Bitcoin. Key partnerships include Bitwise as a founding supporter, with broader institutional adoption through its Bitcoin Smart Accounts product for family offices and treasuries.

LBTC is an ERC-20 token on Ethereum, enabling seamless compatibility with the broader Ethereum DeFi ecosystem. The token also extends across multiple chains including BNB Chain, Base, and Starknet through bridge infrastructure. It is designed as purpose-built Bitcoin yield infrastructure with a full product suite covering Bitcoin lending, earning, and building. The protocol uses a Security Consortium consensus mechanism for cross-chain minting and burning.

LBTC operates with a circulating supply of approximately 11,784 tokens, with a total supply matching the circulating supply at 11,784. The token is backed 1:1 by staked BTC deposited through the protocol. As a liquid staking derivative, its supply expands or contracts based on BTC staking and unstaking activity. The self-reported market cap stands at approximately $786 million, with a fully diluted valuation around $896 million.

LBTC utilizes a Security Consortium model comprising 14 independent institutional members for consensus on minting, burning, and bridge operations. This design prioritizes security over full decentralization, with uncorrelated security setups across consortium members to minimize single points of failure. The governance structure is optimized for Bitcoin holders seeking institutional-grade security while accessing on-chain DeFi opportunities.

LBTC enables three primary use cases: earning yield on Bitcoin holdings, borrowing against Bitcoin collateral, and building applications on Bitcoin infrastructure. Products include Bitcoin Earn for passive yield generation, Bitcoin Smart Accounts for institutional custody with yield access, and SDK integration tools for exchanges and protocols. Users can access over 50 DeFi protocols for yield generation, trading, borrowing, and liquidity provisioning across multiple chains.