• bitcoinBitcoin (BTC) $ 92,286.00
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  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.10
  • bnbBNB (BNB) $ 900.47
  • solanaWrapped SOL (SOL) $ 139.65
  • usd-coinUSDC (USDC) $ 0.999698
  • staked-etherLido Staked Ether (STETH) $ 3,134.32
  • tronTRON (TRX) $ 0.285101
  • dogecoinDogecoin (DOGE) $ 0.147934
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  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 92,203.00
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  • leo-tokenLEO Token (LEO) $ 9.59
  • wethWETH (WETH) $ 3,136.11
  • stellarStellar (XLM) $ 0.253234
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  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.21
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  • jito-staked-solJito Staked SOL (JITOSOL) $ 174.03
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  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,134.96
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  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.76
  • htx-daoHTX DAO (HTX) $ 0.000002
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  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,605.39
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  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999657
  • ripple-usdRipple USD (RLUSD) $ 0.999616
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  • syrupusdtsyrupUSDT (SYRUPUSDT) $ 1.11
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  • binance-staked-solBinance Staked SOL (BNSOL) $ 151.95
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  • ignition-fbtcFunction FBTC (FBTC) $ 92,193.00
  • usdtbUSDtb (USDTB) $ 0.999984
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 92,513.00
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 3,363.50
  • hash-2Provenance Blockchain (HASH) $ 0.019793
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 91,935.00
  • nexoNEXO (NEXO) $ 0.973395
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  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997597
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.91
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  • ousgOUSG (OUSG) $ 113.51
  • jupiter-exchange-solanaJupiter (JUP) $ 0.243743
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  • morphoMorpho (MORPHO) $ 1.42
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 92,109.00
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,383.54
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.011805
  • clbtcclBTC (CLBTC) $ 91,641.00
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.10
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 161.24
  • bridged-usdc-polygon-pos-bridgePolygon Bridged USDC (Polygon PoS) (USDC.E) $ 0.999693
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.251279
  • spx6900SPX6900 (SPX) $ 0.687424
  • myx-financeMYX Finance (MYX) $ 3.33
  • aerodrome-financeAerodrome Finance (AERO) $ 0.699176
  • usdaiUSDai (USDAI) $ 0.999666
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 0.999863
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 3,208.58
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  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 3,133.95
  • beldexBeldex (BDX) $ 0.082778
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  • tbtctBTC (TBTC) $ 92,022.00
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  • lido-daoLido DAO (LDO) $ 0.629210
  • msolMarinade Staked SOL (MSOL) $ 187.49
  • usual-usdUsual USD (USD0) $ 0.997285
  • telcoinTelcoin (TEL) $ 0.005743
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 3,136.83
  • ultimaUltima (ULTIMA) $ 5,394.99
  • celestiaCelestia (TIA) $ 0.625356
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  • usddUSDD (USDD) $ 1.00
  • the-graphThe Graph (GRT) $ 0.048013
  • ether-fiEther.fi (ETHFI) $ 0.821067
  • true-usdTrueUSD (TUSD) $ 0.997858
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,460.42
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • newton-projectAB (AB) $ 0.005389
  • gtethGTETH (GTETH) $ 3,134.78
  • stader-ethxStader ETHx (ETHX) $ 3,403.79
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  • ether-fi-liquid-ethEther.Fi Liquid ETH (LIQUIDETH) $ 3,326.12
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  • sbtc-2sBTC (SBTC) $ 91,573.00
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  • decredDecred (DCR) $ 22.12
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  • apenftAINFT (NFT) $ 0.00000037
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  • jasmycoinJasmyCoin (JASMY) $ 0.006986
  • gnosisGnosis (GNO) $ 129.09
  • theta-tokenTheta Network (THETA) $ 0.340491
DeFi

Lombard raises $94.7m for Bard token, targets Bitcoin DeFi

By admin
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Lombard raises $94.7m for Bard token, targets Bitcoin DeFi

Lombard has completed a 1,400% oversubscribed token sale, which it will use to build in the Bitcoin DeFi ecosystem.

Summary

  • Lombard raised $94.7M in its Bard token public sale past the $6.75M goal
  • The project builds DeFi functionality on top of the Bitcoin network
  • The New Liquid Bitcoin Foundation will use the funds for development and ecosystem growth

Bitcoin’s (BTC) DeFi ecosystem is increasingly attracting interest. On Wednesday, September 3, Lombard Finance concluded its Bard token public sale, raising $94.7 million. The fundraising surpassed the goal of $6.75 million by 1,400%, showing a growing interest in Bitcoin DeFi applications.

“The momentum behind the Community Sale was evident throughout, and the result clearly shows belief in Lombard’s ability to drive onchain Bitcoin demand to new highs now and into the future,” said Jacob Phillips, our Co-Founder of Lombard. “We’re pleased to usher in 21,340 new and aligned community members as we deliver against Phase 2 of our roadmap.”

BARD will serve as the governance token for Lombard’s Bitcoin DeFi protocol. Lombard has stated that it will use the additional funds to develop its products and grow its ecosystem. It also says that it hopes adding Bitcoin DeFi capabilities will help bring more users into its ecosystem.

You might also like: Altcoins gain as Bitcoin dominance falls to 57%: Fed narrative fading?

How Lombard’s Bitcoin DeFi works

Lombard is the issuer of the LBTC token, a yield-bearing token backed by Bitcoin. The token generates 1% APY through Bitcoin staking via Babylon Labs. Moreover, the protocol uses a decentralized validator network to avoid the major pitfalls with cross-chain bridges and wrapped tokens.

In particular, traders lost more than $2.8 billion in various blockchain bridge hacks. Moreover, some of these hacks were likely insider rug pulls. For this reason, traders who swap their Bitcoin for any wrapped token should be aware of the potential counterparty risk that comes with it.

Read more: Defi builders must choose their bridge wisely | Opinion

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