Lombard Finance has launched his LBTC -Token on Etherlink, the Layer 2 network built on the Tezos -Blockchain. This movement brings Bitcoin -Liquidity to the Tezos -Ecosystem and expands access to Defi -Services via LBTC, a liquid version of Stable Bitcoin.
With the launch, users can use their bitcoin via Lombard and receive LBTC in exchange for this. This token reflects the value of Bitcoin and can be used within various Defi applications on Ethherlink. LBTC is fully supported and relieved 1: 1 for Bitcoin. The Bitcoin used to mint LBTC is set to Babylon, allowing users to earn a yield while they hold the token.
Lombard Finance has previously deployed LBTC on other block chains, including Ethereum, Sui, Base and BNB chain. The addition of Etherlink supports Lombard’s goal to expand over several chains. Currently, almost $ 2 billion in LBTC is in circulation, with the majority active in Defi platforms.
On Etherlink, LBTC is supported by applications such as Superlend, Hanji, Iguanadex and OKU. It will also be included in the Apple Farm Rewards program and offers stimuli for user participation.
The launch is part of Lombard’s plan to increase the use of Bitcoin in Defi and to integrate it further into various blockchain networks. LBTC has already been adopted in around 75 Defi applications and continues to grow like a cross-chain assets for decentralized financing.
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