Bybit Partners Lombard Finance for BTC Staking, Offers 5% APY

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced a strategic initiative to expand access to BTC staking with Lombard Finance, the developer of LBTC, the leading staked BTC. This initiative aims to enhance access with innovative DeFi offerings, allowing users to earn extra points across Lombard, Babylon, and Veda. From April 9, eligible users of the Bybit Web3 Seed Phrase Wallet can stake BTC directly from their wallet to participate in this program.

Lombard Finance is connecting BTC to various chains, DeFi protocols, and yield opportunities through LBTC. LBTC is a leading BTC liquid staked token trusted by over 100,000 users. It allows BTC holders to activate their assets in DeFi, earning staking yields from Babylon’s Bitcoin Staking ecosystem while retaining the value of their BTC. With over 21,000 LBTC in circulation and over 60% active in DeFi, LBTC is used for lending, borrowing, trading, and re-staking across six chains.

Lombard has partnered with Veda Labs to make DeFi yields available to BTC holders in just one click. Through the Lombard DeFi Vault, LBTC holders can access real yields from DeFi. From now until May 9, eligible participants on Bybit Web3 will receive up to 5% APY in DeFi yield, along with 6X Lombard LUX, 1X $BABY, and 6X Veda Points for their deposits. This campaign is part of Bybit Web3’s ongoing efforts to provide users with unique incentives and seamless access to cutting-edge DeFi products.

Emily Bao, Head of Bybit Web3, stated, “BTC has always been the cornerstone of crypto, but until now, it’s been largely passive. This campaign marks a turning point — not just in how BTC is held, but how it moves. We’re unlocking real yield, real simplicity, and real access for the next wave of users.” Jacob Phillips, Co-Founder of Lombard Finance, added, “BTC is undergoing a transformation. Once viewed solely as a store of value, BTC is now increasingly being integrated into DeFi, unlocking new earning opportunities for BTC holders. With the LBTC SDK, Bybit can remove the complexity for its users, enabling seamless BTC staking and DeFi participation directly within the Wallet.”

To participate, users need to create or import a Bybit Seed Phrase Wallet and deposit BTC into their Bybit Wallet in the app to receive LBTCv in their Ethereum address. LBTCv represents LBTC deposited into the DeFi Vault. Rewards can be tracked within the pool page on Bybit Web3, and the product and exclusive event are currently available to eligible Bybit app users only. Bybit Web3 is committed to fostering a dynamic and rewarding environment for its users. For more details about the campaign and its terms and conditions, users can visit Bybit Web3.

Bybit is renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools. The exchange bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. The exchange serves a global community of over 60 million users and is dedicated to creating a simpler, open, and equal ecosystem for everyone.