🚀 Lombard Reports Significant Growth In eBTC TVL
#Lombard #eBTC #TVL #etherfi #LBTC #EigenLayer #Symbiotic #KarakNetwork #wBTC
According to Odaily, Lombard has announced a substantial increase in the total value locked (TVL) of ether.fi's eBTC since its relaunch with LBTC last week. The TVL has surged from $38 million to $61 million, marking an increase of over 60%. To optimize re-staking benefits on platforms such as EigenLayer, Symbiotic, and Karak Network, all wBTC will be converted to LBTC starting from Wednesday, September 11.#Lombard #eBTC #TVL #etherfi #LBTC #EigenLayer #Symbiotic #KarakNetwork #wBTC
🚀 Bitcoin Repledging Protocol Lombard To Convert wBTC To LBTC
#Bitcoin #wBTC #LBTC #repledging #EigenLayer #Symbiotic #KarakNetwork #TVL #etherfi #eBTC
According to Foresight News, Bitcoin repledging protocol Lombard has announced that starting from September 11, all wBTC will be converted to LBTC. This move aims to maximize repledging benefits on platforms such as EigenLayer, Symbiotic, and Karak Network. The protocol's decision is expected to enhance the efficiency and returns of repledging activities across these platforms.
Additionally, Lombard highlighted that since the relaunch of LBTC last week, the total value locked (TVL) of ether.fi's eBTC has surged from $38 million to $61 million, marking an increase of over 60%. This significant growth reflects the rising interest and confidence in the repledging protocol and its associated platforms.#Bitcoin #wBTC #LBTC #repledging #EigenLayer #Symbiotic #KarakNetwork #TVL #etherfi #eBTC
🚀 Bitcoin Cross-Chain Liquidity Staking Platform Lombard Announces Growth in eBTC
#Bitcoin #Lombard #eBTC #liquidity #staking #crosschain #EigenLayer #Symbiotic #Karak #wBTC #LBTC
According to BlockBeats, on September 10, Bitcoin cross-chain liquidity staking platform Lombard announced that ether.fi's eBTC has grown from $38 million to $61 million since its relaunch with LBTC last week.
To maximize restaking on EigenLayer, Symbiotic, and Karak, all wBTC will be converted to LBTC starting September 11.#Bitcoin #Lombard #eBTC #liquidity #staking #crosschain #EigenLayer #Symbiotic #Karak #wBTC #LBTC
🚀 Pendle Introduces High-Yield Pools for Bitcoin-Based Tokens
#Pendle #DeFi #Bitcoin #LBTC #YieldFarming #LiquidStaking #Ethereum #SmartContracts #Cryptocurrency #PENDLE
According to CoinDesk, decentralized finance (DeFi) platform Pendle has launched new pools offering variable yields of up to 45% and fixed yields of 10% on a bitcoin-backed token. This initiative aims to enhance the platform's product offerings and attract more users.
The new pools allow users to deposit LBTC, a liquid-staking token issued by restaking startup Lombard, into a Pendle pool created by Ethereum layer-2 network Corn. Since its launch, the pool has garnered over $13 million in user deposits and is set to mature on December 26. Pendle's CEO, TN Lee, expressed optimism about replicating the success seen with fixed yields for Ethereum with Bitcoin.
Pendle's strategy involves splitting investments into principal tokens and yield tokens, which can be traded separately. This approach facilitates high-yield strategies by enabling users to trade future returns. Users can buy yield tokens with LBTC, increasing their exposure to the underlying yield and points from LBTC and Corn until maturity. At maturity, the yield tokens will be worth zero, but users can choose to receive either the fixed yield or the floating yield, which includes points that can be monetized and future tokens airdropped to LBTC holders.
Lombard's restaking service converts wrapped bitcoin (WBTC) to Lombard Bitcoin (LBTC) tokens, which can be used in DeFi applications to capture yield. Corn, another startup, uses bitcoin as the main token to pay usage fees. Liquid staking allows users to stake their crypto assets and receive a new token in exchange, while layer-2 blockchains focus on specific use cases atop a broader service blockchain. DeFi utilizes automated smart contracts to provide financial services like lending and borrowing. Pools in DeFi can be likened to digital lockers where assets are stored to earn returns.
Pendle's PENDLE tokens have seen an 11% increase in the past 24 hours, outperforming bitcoin's 2% rise, according to CoinGecko data.#Pendle #DeFi #Bitcoin #LBTC #YieldFarming #LiquidStaking #Ethereum #SmartContracts #Cryptocurrency #PENDLE
🚀 🔥 Binance Labs Invests in Lombard to Bridge Bitcoin and DeFi with LBTC Staking Token 🔥
#Binance #Lombard #LBTC #Bitcoin #DeFi #Staking #Web3 #DefiGrowth #DigitalAssets #Innovation #BTC
On October 16, 2024, Binance Labs revealed its latest investment in Lombard, a blockchain project that develops LBTC, a liquid staked Bitcoin token. This investment aims to integrate Bitcoin into the growing DeFi (Decentralized Finance) ecosystem by offering secure staking and yield-earning opportunities for Bitcoin holders.What is LBTC?LBTC is a security-first, liquid staked token that allows users to earn passive yield on their Bitcoin while maintaining liquidity. The token is designed for both individual investors and large institutions, providing a gateway for Bitcoin to interact seamlessly with DeFi platforms. LBTC holders can use their assets in various decentralized financial services, such as lending, borrowing, and yield farming.Binance Labs' Commitment to Web3 and DeFi GrowthBinance Labs' investment in Lombard reflects its dedication to supporting early-stage blockchain projects with the potential to make a long-term impact on the Web3 ecosystem. By facilitating Bitcoin’s integration into DeFi, Binance Labs and Lombard are working together to unlock new opportunities for digital asset growth and innovation.Why Binance Labs Chose LombardLombard’s focus on security and innovation aligns with Binance Labs’ mission to back projects that advance the adoption of decentralized technologies. Through this partnership, Binance Labs is strengthening its position as a leader in driving the future of DeFi and Web3.Binance Labs' investment in Lombard and the development of LBTC is a significant step toward bridging the gap between Bitcoin and DeFi, enabling more users to earn yield on their Bitcoin assets securely. This move reinforces Binance Labs’ commitment to fostering innovation and supporting transformative projects in the decentralized finance space#Binance #Lombard #LBTC #Bitcoin #DeFi #Staking #Web3 #DefiGrowth #DigitalAssets #Innovation #BTC
🚀 Ionic Platform Faces Security Breach Involving Fake LBTC
#IonicPlatform #SecurityBreach #Hackers #LBTC #LombardBTC #Investigating #UserAdvisory
According to Odaily, the Ionic platform, which operates on Mode, has been targeted by hackers. The attackers exploited a counterfeit version of LBTC (Lombard BTC) as collateral on the Ionic platform. The team is currently investigating the incident. Users are advised to refrain from interacting with the platform until further notice.#IonicPlatform #SecurityBreach #Hackers #LBTC #LombardBTC #Investigating #UserAdvisory
🚀 Abraxas Capital Management's Significant Cryptocurrency Acquisitions
#AbraxasCapitalManagement #Cryptocurrency #Investments #Acquisitions #InterestIncome #OnChainAnalysis #sUESe #USDe #LBTC
According to Foresight News, on-chain analyst @ai_9684xtpa has reported that Abraxas Capital Management has made substantial cryptocurrency acquisitions. The firm has purchased a total of 196 million sUESe PT, 21.01 million USDe PT, and 95.51 LBTC PT. These investments have resulted in approximately $5.92 million in interest income for the company.#AbraxasCapitalManagement #Cryptocurrency #Investments #Acquisitions #InterestIncome #OnChainAnalysis #sUESe #USDe #LBTC
🚀 User Loses $1.08 Million in Aave Ethereum LBTC Due to Malicious Signature
#Aave #Ethereum #LBTC #phishing #malicioussignature #ScamSniffer #SlowMist #Cosine #TornadoCash #crypto #hack #ETH
According to PANews, a user has reportedly lost 12 Aave Ethereum LBTC (aEthLBTC), valued at approximately $1.08 million, after signing a malicious 'permission' signature. The incident was detected by Scam Sniffer. SlowMist's Cosine noted that the phishing group responsible for this attack is not among the mainstream ones. The stolen funds were quickly converted into ETH and laundered through Tornado Cash.#Aave #Ethereum #LBTC #phishing #malicioussignature #ScamSniffer #SlowMist #Cosine #TornadoCash #crypto #hack #ETH
🚀 Liquid Bitcoin's Collateralization Issue Resolved Swiftly
#LiquidBitcoin #Collateralization #Bitcoin #LBTC #Blockstream #NS3AI #AdamBack #FederatedWallets #NetworkIssue #BTC
A temporary issue with the Liquid Bitcoin (LBTC) dashboard showed undercollateralization due to outdated node software and incomplete visibility of federated wallets. According to NS3.AI, Adam Back, CEO of Blockstream and a member of the Liquid Network, confirmed that the problem was quickly resolved and that LBTC remains fully backed 1:1 with Bitcoin. The error occurred because old addresses were mistakenly counted, resulting in a temporary display of only 82.4% backing. However, independent dashboards have verified that full collateralization is maintained.#LiquidBitcoin #Collateralization #Bitcoin #LBTC #Blockstream #NS3AI #AdamBack #FederatedWallets #NetworkIssue #BTC
🚀 Blockstream Integrates Lightning Payments with Liquid Network in New App Update
#Blockstream #LightningPayments #LiquidNetwork #BlockstreamGreen #AtomicSwaps #LiquidBitcoin #LBTC #JadeDevices #HardwareWallet #Bitcoin #BitcoinLightningNetwork #BTC
Blockchain development company Blockstream has released version 5.2.0 of its Blockstream Green application. According to ChainCatcher, this update connects Lightning payments with the Liquid Network, a Bitcoin sidechain developed by Blockstream, using atomic swaps to convert Lightning payments into Liquid Bitcoin (LBTC) secured by Jade devices.
The report highlights that the Blockstream Jade hardware wallet is currently the first hardware wallet capable of interacting with the Bitcoin Lightning Network. This allows users to send and receive Lightning payments while securely storing funds in cold storage.#Blockstream #LightningPayments #LiquidNetwork #BlockstreamGreen #AtomicSwaps #LiquidBitcoin #LBTC #JadeDevices #HardwareWallet #Bitcoin #BitcoinLightningNetwork #BTC