ON–317: Bitcoin Ecosystem 🟠
Coverage on Ethena, USDC, Ripple USD, USDT & fastUSD
Bitcoin Ecosystem 🟠
Lombard | cbBTC | BoB | Rootstock | SatLayer
Lombard 🏦
👥 Ian Unsworth | Website | Dashboard
📈 The Adoption of LBTC is on the Rise as 62% of the Token Supply — $1.2B — is Being Used in DeFi
Lombard transforms Bitcoin into a productive asset with LBTC, a secure, liquid staked token via Babylon that unlocks Bitcoin's potential to be productively utilized within DeFi. With approximately $2B in total value locked (TVL), Lombard's LBTC is leading the pack across the Bitcoin liquid staking token (LST) landscape with a dominant 40.6% market share. With analogous LST products like stETH, JitoSOL, and weETH across various networks, one principle remains consistent: liquidity consolidates amongst a singular asset.
These inflows are attracting a particular kind of market participant — the kind who wishes to utilize Bitcoin onchain in DeFi. Currently 62.49% of the LBTC supply is being productively utilized across DeFi protocols like Aave, EtherFi (Vault), Pendle, and Morpho.
