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<ul>
 <li>Lombard Finance raises $16 million to introduce Bitcoin-based restaking, enhancing BTC’s role in DeFi.</li>
 <li>Bitcoin transitions from store of value to productive asset through Lombard’s restaking initiative.</li>
 <li>Bitcoin-based restaking is set to transform BTC into an active DeFi asset, thanks to Lombard.</li>
</ul>
<p><a href="https://www.lombard.co.uk/" rel="noopener noreferrer nofollow">Lombard </a><a href="https://www.lombard.co.uk/" target="_blank" rel="noopener noreferrer nofollow">Finance</a> has secured an impressive $16 million in funding to pioneer Bitcoin-based restaking. The company is partnering with the Bitcoin staking protocol Babylon to bring this innovative concept to the world of digital finance.</p>
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   <p lang="en" dir="ltr">As miners struggle to remain profitable in the face of the halving, we expect many of them, and others, to utilize Bitcoin DeFi to unlock more productive use of their assets.<a href="https://twitter.com/Lombard_Finance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Lombard_Finance</a> is poised to be a leader in this sector and we believe they have the potential to… <a href="https://t.co/QWXYXrhu1f" rel="noopener noreferrer nofollow">https://t.co/QWXYXrhu1f</a></p>— Kairos Research (@Kairos_Res) <a href="https://twitter.com/Kairos_Res/status/1808257105608028492?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 2, 2024</a>
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<h2 class="wp-block-heading" id="h-elevating-btc-from-store-of-value-to-productive-asset">Elevating BTC from Store of Value to Productive Asset</h2>
<p>Lombard’s mission is to elevate Bitcoin beyond being a mere store of value. By introducing restaking, they aim to transform BTC into a productive asset that actively contributes to the Web3 economy.&nbsp;</p>
<p>This development is significant because <a href="https://cryptonewsland.com/ethereums-three-fold-transition-a-new-dawn-for-decentralized-finance/" target="_blank" rel="noopener noreferrer nofollow">decentralized finance</a> (DeFi) has predominantly thrived on other blockchains. Restaking gained prominence on Ethereum through EigenLayer.&nbsp;</p>
<p>EigenLayer allowed users to earn extra interest on assets they had already staked to secure Ethereum. These “restaked” assets were pooled together to fortify a web of other crypto protocols that relied on proof-of-stake security.&nbsp;</p>
<h2 class="wp-block-heading" id="h-lombard-s-approach">Lombard’s Approach</h2>
<p>Lombard’s restaking initiative builds upon Babylon’s cross-network security technology. Babylon allows people to use Bitcoin to secure other proof-of-stake networks.&nbsp;</p>
<p>Now, Lombard is taking it a step further by introducing liquid bitcoin tokens (LBTC). These tradeable receipts allow users to retain liquidity over their <a href="https://www.coinbase.com/learn/crypto-basics/what-is-staking" target="_blank" rel="noopener noreferrer nofollow">staked</a><a href="https://www.coinbase.com/learn/crypto-basics/what-is-staking" rel="noopener noreferrer nofollow"> BTC</a> while securing other networks.&nbsp;</p>
<p>Over $1.3 trillion worth of Bitcoin could be used for lending, borrowing, and trading. This will benefit both Bitcoin holders and the broader DeFi ecosystem.</p>
<p>Lombard’s $16 million funding round was led by Polychain Capital, a prominent player in the crypto investment space. Other participants included BabylonChain, dao5, Franklin Templeton, Foresight Ventures, Mirana Ventures, Mantle EcoFund, and Nomad Capital.&nbsp;</p>
<p>Lombard’s ambitious vision aims to bridge the gap between <a href="https://cryptonewsland.com/bitcoin-and-defi-gears-to-have-great-future-ahead-analyst-says/" rel="noopener noreferrer nofollow">Bitcoin </a><a href="https://cryptonewsland.com/bitcoin-and-defi-gears-to-have-great-future-ahead-analyst-says/" target="_blank" rel="noopener noreferrer nofollow">and</a><a href="https://cryptonewsland.com/bitcoin-and-defi-gears-to-have-great-future-ahead-analyst-says/" rel="noopener noreferrer nofollow"> DeFi</a>. This will turn the world’s most valuable cryptocurrency into an active participant in the evolving digital economy.&nbsp;</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/renzo-the-4b-liquid-restaking-protocol-raises-17m-to-expand-restaking-services/" rel="noopener noreferrer nofollow">Renzo, the $4b Liquid Restaking Protocol, Raises $17M to Expand Restaking Services</a></li>
 <li><a href="https://cryptonewsland.com/5-restaking-airdrops-worth-monitoring-to-maximize-your-profit/" rel="noopener noreferrer nofollow">5 Restaking Airdrops Worth Monitoring to Maximize Your Profit</a></li>
 <li><a href="https://cryptonewsland.com/decentralized-fund-management-platform-desyn-launch-liquidity-restaking-fund-enjoy-triple-points-for-eigenlayer-renzo-and-desyn/" rel="noopener noreferrer nofollow">Decentralized Fund Management Platform DeSyn Launch Liquidity Restaking Fund, Enjoy triple points for Eigenlayer, Renzo, and DeSyn</a></li>
 <li><a href="https://cryptonewsland.com/bingx-introduces-eigenlayer-token-spot-trading-amid-growing-popularity-of-ethereum-restaking-ecosystem/" rel="noopener noreferrer nofollow">BingX Introduces Eigenlayer Token Spot Trading Amid Growing Popularity of Ethereum Restaking Ecosystem</a></li>
 <li><a href="https://cryptonewsland.com/ethereum-etf-approval-3-crypto-sectors-ready-to-surge-beyond-expectations/" rel="noopener noreferrer nofollow">Ethereum ETF Approval: 3 Crypto Sectors Ready to Surge Beyond Expectations</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/lombard-finance-raises-16m-to-integrate-bitcoins-potential-in-defi/" rel="noopener noreferrer nofollow">Lombard Finance Raises $16M to Integrate Bitcoin’s Potential in DeFi</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Lombard Finance Raises $16M to Integrate Bitcoin’s Potential in DeFi

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