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Bybit Partners with Lombard Finance to Enhance BTC Staking and DeFi Access

Bybit and Lombard Finance launch a strategic initiative to expand BTC staking opportunities, offering exclusive DeFi yields and rewards to users.
Published on 2025-04-11

Bybit and Lombard Finance Launch BTC Staking Initiative

Bybit, the second-largest cryptocurrency exchange by trading volume, has announced a partnership with Lombard Finance to expand access to BTC staking through LBTC, the leading staked Bitcoin token. This initiative aims to enhance the DeFi ecosystem by allowing users to earn yields directly from their Bybit Web3 Seed Phrase Wallet.

Key Features of the Initiative

  • Simplified BTC Staking: Users can now stake BTC directly within their Bybit Web3 wallet, eliminating the need for complex DeFi processes.
  • LBTC Integration: LBTC, trusted by over 100,000 users, enables BTC holders to participate in DeFi activities like lending, borrowing, and trading across multiple blockchain networks.
  • Exclusive Rewards: From April 9 to May 9, eligible users can earn up to 5% APY, along with additional rewards including LUX tokens, BABY tokens, and Veda Points.

How to Participate

  1. Create/Import Wallet: Users can either create a new Bybit Web3 Seed Phrase Wallet or import an existing one.
  2. Deposit BTC: Transfer BTC to the wallet to receive LBTCv, which represents BTC deposited into the DeFi Vault.
  3. Track Rewards: Rewards are accessible and trackable through the Bybit Web3 platform.

Strategic Insights

Emily Bao, Head of Bybit Web3, emphasized the transformative potential of BTC in DeFi, stating, "This campaign marks a turning point in how BTC is utilized, moving from passive holding to active participation in DeFi."

Jacob Phillips, Co-Founder of Lombard Finance, highlighted the integration of BTC into DeFi, noting, "BTC is now increasingly being used in DeFi, unlocking new earning opportunities for holders."

Conclusion

Bybit's collaboration with Lombard Finance underscores their commitment to advancing Web3 and making DeFi accessible to a broader audience. This initiative not only enhances the utility of BTC but also positions Bybit as a leader in the cryptocurrency exchange market, driving innovation and user engagement.

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