Bybit Web3 Exclusive: BTC Staking with Lombard, up to 5% APY and Points Multipliers

Dubai, United Arab Emirates, April 11th, 2025, Chainwire

Bybit, the worlds second-largest cryptocurrency exchange by trading volume, today announced a strategic initiative to expand access to BTC staking with Lombard Finance, the developer of LBTC, the leading staked BTC. Enhancing access with innovative DeFi offerings, Bybit Web3 will be introducing users to BTCs DeFi yield potential with exclusive rewards. From Apr. 9 on, eligible users of the Bybit Web3 Seed Phrase Wallet have the opportunity to stake BTC from within the wallet to earn extra points across Lombard, Babylon, and Veda.

Lombard is connecting BTC to every chain, DeFi protocol, and yield opportunity with LBTC. LBTC is the leading BTC liquid staked token and trusted by over 100,000 users.

LBTC allows BTC holders to activate their assets in DeFi, and earn staking yields from Babylons Bitcoin Staking ecosystem, whilst retaining the value of their BTC. With over 21,000 LBTC in circulation and over 60% active in DeFi, LBTC is being used for lending, borrowing, trading, and re-staking across 6 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 stand to access real yields from DeFi.

From now to May 9, eligible participants on Bybit Web3 will receive up to 5% APY in DeFi yield, on top of 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.

"BTC has always been the cornerstone of crypto, but until now, its been largely passive. This campaign marks a turning point not just in how BTC is held, but how it moves. Were unlocking real yield, real simplicity, and real access for the next wave of users, said Emily Bao, Head of Bybit Web3.

"BTC is undergoing a transformation," said Jacob Phillips, Co-Founder of Lombard Finance. "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, he said.

To participate, users may start with creating or importing 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 / #TheCryptoArk / #BybitWeb3

About Bybit

Bybit is the worlds second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

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ContactHead of PRTony AuBybittony.au@bybit.com

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Text source: Crypto Daily™

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