TechFlow reports that LBTC, developed by Lombard Finance, has launched on Sui, opening new BTCFi participation opportunities for the Sui ecosystem. LBTC is a yield-bearing liquid staking token backed by Bitcoin, designed to transform Bitcoin from a store of value into a productive asset that generates additional returns for holders.
Users can now access Lombard's LBTC across multiple protocols on Sui, including Aftermath, Bluefin, Cetus, NAVI, Suilend, and Turbos. By staking native BTC, users can directly mint LBTC on Sui and use it to earn yields through lending, liquidity provision, and other DeFi activities. Additionally, depositing LBTC on Sui comes with extra yield incentives. This collaboration aims to further strengthen Sui’s position as a hub for Bitcoin financial innovation.
Earlier, the Sui Foundation announced a partnership with the Bitcoin DeFi protocol Lombard to provide users with the ability to mint LBTC directly on the Sui blockchain.
