Lombard Finance, a Bitcoin liquid staking platform, has unveiled its innovative LBTC SDK toolkit, which is now production-ready. This new product facilitates the integration of Bitcoin staking and the minting of LBTC, a yield-generating token that is directly connected to Bitcoin, for wallets, exchanges, mining pools, and decentralized finance (DeFi) platforms.
The announcement, shared with Finance Newso, indicates a pivotal shift in Bitcoin’s role from merely being a store of value to becoming a more versatile asset that presents new opportunities within the DeFi landscape.
The LBTC SDK aims to provide partners with the capability for one-click Bitcoin staking.
This will allow for the direct deployment of LBTC into DeFi yield strategies while enhancing user engagement and retention through integrated yield opportunities.
Moreover, the toolkit allows for the generation of additional revenue streams from staking operations.
The concept of liquid Bitcoin staking is moving beyond a niche market as it has now grown to exceed $4 billion, powered by increasing user demand for yield without sacrificing their Bitcoin holdings.
Lombard is leading this transformative movement, offering platforms the chance to cater to users seeking these exciting opportunities.
Users can also mint LBTC seamlessly, automatically depositing their tokens into Lombard’s DeFi Vault, which currently offers an annual percentage yield (APY) of 3%, enabling them to earn yields on Bitcoin while maintaining complete liquidity and market exposure.
Lombard emphasizes that the integration process is user-friendly and requires minimal technical expertise, with partners needing only a few lines of code to implement the complete solution.
Jacob Phillips, co-founder of Lombard Finance, stated that Bitcoin is in a state of evolution. Once viewed solely as a store of value, Bitcoin is increasingly becoming part of the DeFi ecosystem, thus unlocking new income opportunities for its holders.
“With the LBTC SDK, we are simplifying the process for both platforms and users, facilitating effortless Bitcoin staking and DeFi engagement directly through their chosen interfaces,” Phillips added.
Binance and Bybit Integrate LBTC SDK, Lombard to Add More
The announcement confirmed that major cryptocurrency exchanges, including Bybit and Binance, have already integrated the LBTC SDK, with plans for additional implementations across the wider crypto ecosystem.
Additionally, the toolkit supports wallet integrations with popular platforms like xVerse, MetaMask, and Trust Wallet.
The integration of the SDK is said to present substantial opportunities for platforms to tap into the more than 2.8 million Bitcoin currently held on centralized exchanges. The LBTC SDK is available for integration, with comprehensive documentation and support offered by Lombard.
As a developer of secure Bitcoin infrastructure, Lombard Finance’s flagship product is the LBTC and its DeFi Vault, which has successfully amassed over $200 million in total value locked (TVL), reflecting a robust demand for Bitcoin yield options, according to the company.
Recently, Lombard announced its Bitcoin staking partners, including @Figment_io, @galaxyhq, @Kiln_finance, and @P2Pvalidator, all collaborating as Finality Providers for the Babylon Genesis project.
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In recent days, Lombard has rolled out significant updates, including the identification of its Bitcoin staking partners: Figment, Galaxy, Kiln, and P2P.org. Each partner will assist Lombard in operating a Finality Provider for the new layer-1 blockchain, Genesis, associated with the Babylon project.
Furthermore, along with the launch of the BABY token alongside Babylon Genesis, Lombard has activated its Staking Yield Pool, where LBTC holders can earn BABY rewards. The team has indicated that the pool will soon incorporate additional tokens such as BSN from Osmosis, BOB, TAC, and others.
Moving forward, Lombard is set to transition Phase 1 stakes into Phase 2 and will soon facilitate direct Bitcoin delegation across its four Finality Providers. They also plan to reopen Babylon staking at the end of April.
