Ether.Fi has selected Lombard’s Liquid Staked Bitcoin LBTC as the asset to expand its Liquid Restaked Bitcoin offering, eBTC. eBTC is designed to provide ether.fi users with easy onboarding to restaking BTC on restaking platforms such as Symbiotic, Karak, and very soon Eigen Layer.

Since its launch in mid-August, eBTC has rapidly grown to a substantial $36.8 million, underscoring the strong demand for Bitcoin utility on both the supply and demand side. To fuel the next phase of growth and adhere to the established blueprint of Liquid Restaked Tokens (LRTs) being backed by Liquid Staked Tokens (LSTs), Ether.Fi has partnered with Lombard to integrate its secure Bitcoin LST, LBTC.

The partnership is founded on a shared vision that eBTC, powered by LBTC, will become the leading liquid restaked Bitcoin on Ethereum. eBTC is offered by Ether.Fi and built on Veda's yield infrastructure.

eBTC, as a Bitcoin LRT, will offer holders the same advantages that ETH LRT holders currently enjoy: maintaining liquidity, earning passive yield and rewards, avoiding the need to track restaking deposit cap lifts, and leveraging liquidity across the DeFi ecosystem. Additionally, for economic security providers like Symbiotic and Eigen Layer, the increased supply bolsters their operations and furthers their missions.

How it works

Lombard’s LBTC, a Bitcoin Liquid Staked Token, generates yield through Babylon. Starting today, LBTC can be staked on Ether.Fi, allowing users to mint eBTC. Ether.Fi will restake all LBTC deposits on Symbiotic and other platforms as their deposit caps are raised, enabling eBTC to earn restaking yields. Additionally, eBTC will accumulate further rewards from Symbiotic, Veda, Karak, and, eventually, Eigen Layer.

Key Benefits

• Access to Restaking Yields: Enjoy restaking yields without the need to monitor deposit caps.
• Multiple Staking Yields: LBTC generates a staking yield from Babylon, while eBTC benefits from restaking yields from Symbiotic, with restaking yields from Karak and EigenLayer to come.
• Diverse Rewards Programs: Participate in multiple rewards programs, including Lombard Lux, Ether.Fi, Symbiotic, Veda, and soon, Karak and Eigen Layer.
• DeFi Utility: Leverage eBTC across DeFi platforms like Pendle, Curve, Uniswap, and Convex.

How to Access

1. Get LBTC from Lombard

• Stake BTC and Mint LBTC: Visit the Lombard Dashboard to stake your BTC and mint LBTC: https://www.lombard.finance/app/
• Alternatively, swap ERC-20 Tokens for LBTC: Use the Swap function to exchange any ERC-20 token, like wBTC, for LBTC: https://www.lombard.finance/app/swap/

2. Stake LBTC on Ether.Fi for eBTC

Visit Ether.Fi: Connect your wallet and Select the BTC staking option: https://app.ether.fi/ebtc Stake LBTC: Choose the amount of LBTC to stake and follow the prompts in your wallet. Redeem eBTC: Your eBTC will be available in your wallet after the staking process is complete.