Lombard Secures $94.7M for Bard Token, Sets Sights on Bitcoin DeFi Revolution

Lombard just landed a massive $94.7 million funding round—because what's a crypto project without eye-watering numbers and grand ambitions?

Building Bitcoin's DeFi Future

The capital injection fuels their Bard token launch, targeting Bitcoin's nascent decentralized finance ecosystem. They're betting big on bringing yield-generating protocols to Bitcoin's staid blockchain—because apparently Ethereum's DeFi dominance needs challengers.

Timing the Market Perfectly

With institutional interest in Bitcoin infrastructure heating up, Lombard's raise signals growing confidence in Bitcoin's programmability beyond simple store-of-value narratives. The move positions them at the intersection of two hottest crypto trends: Bitcoin and yield farming.

Just what finance needed—another token promising to revolutionize an already over-hyped sector while traditional bankers roll their eyes and check their stock portfolios.

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.