TechFlow News, on July 3, OKX Ventures announced an investment in Lombard, a Babylon-based solution enabling trustless, self-custodial cross-chain liquid staking of Bitcoin.
Lombard's flagship product is LBTC. By partnering with Babylon, Lombard leverages Babylon’s staking protocol, which allows Bitcoin assets to be staked in a trustless and self-custodial manner, providing economic security to proof-of-stake (PoS) systems. Through Babylon, staked Bitcoin is transformed into LBTC, making it compatible with the most widely used DeFi protocols on Ethereum mainnet and future leading Layer 2 chains. LBTC can seamlessly move across chains and serve as collateral in decentralized finance, aiming to unlock over $130 billion worth of Bitcoin for lending and trading. This initiative not only creates new capital opportunities for Bitcoin holders but also drives growth across ecosystems and DeFi protocols, significantly enhancing Bitcoin’s utility and liquidity.
