Bitcoin shouldn't sit idle. But navigating DeFi protocols, managing positions, and chasing yields across multiple platforms demands time, expertise, and constant attention—friction that keeps BTC holders on the sidelines.

Bitcoin Earn puts that on autopilot. It's an automated yield product that puts Bitcoin to work across a diversified portfolio of strategies through a single deposit, designed to generate competitive Bitcoin-on-Bitcoin returns across market conditions.

Key benefits

Competitive Returns

Access risk-adjusted returns through a simple experience. Deploy capital across leading DeFi protocols with experienced risk management handling allocation and rebalancing automatically.

Full Transparency

Track your position, yields, and strategy allocations in real time. See exactly where your Bitcoin is working, how much you're earning, and current performance—no black boxes.

Professionally Managed Meta-Vault Structure

Strategies operated by DeFi-native risk teams with a track record of managing billions in DeFi capital. Built on Veda's infrastructure, the same technology powering Kraken's DeFi Earn.

The Meta-Vault Structure

Most Bitcoin yield products make a single bet. They pick a strategy, deploy capital into it, and expose users to whatever happens when market conditions shift. When the strategy works, returns look strong. When it stops working, there is no fallback.

Lombard's Bitcoin Earn is built differently, acting as a structured meta-vault. Instead of routing capital into a single strategy or a single manager spreading their focus across multiple strategies, it distributes exposure across a set of sub-vaults dedicated to independent managers, each operating in a specific niche of the yield market. Each sub-vault operates in isolation, with its own logic, risk profile, and return drivers.

The allocation layer sits above all of this. Capital flows toward managers based on verified performance under current conditions, not static weightings or predetermined splits. When basis trading delivers strong, risk-adjusted returns during a liquidity expansion cycle, it attracts more allocation. When stablecoin cross-lending arbitrage spreads widen, that niche gets prioritized. The vault continuously rebalances across regimes rather than waiting for a single strategy to recover. This is what generates more consistent returns over time: the ability to stay productive across different market states rather than being locked into one.

The risk management properties follow from the same structure. Smart contract exposure is distributed. Manager-specific failures are contained within their allocation sizes and cannot affect others. The overall portfolio is never fully dependent on the health of any single protocol or the judgment of a single manager. For users who want to put their Bitcoin to work without actively managing positions, this is the right architecture: one designed to remain resilient across the entire market cycle.

How It Works: Three Simple Steps

Step 1: Deposit

Deposit LBTC, BTC.b, WBTC, or native Bitcoin. You receive BTCe, a receipt token representing your position.

Step 2: Earn

Assets are deployed into leading lending and liquidity protocols, automatically rebalancing to optimize risk-adjusted returns. All yields are continuously converted back to Bitcoin and automatically compounded. No action required.

Step 3: Withdraw

Request a withdrawal anytime and receive your Bitcoin-backed tokens plus accumulated yield within 14 days*.

*For detailed technical documentation, risk disclosures, and strategy architecture, visit https://docs.lombard.finance/use/use-bitcoin-earn

Track Your Returns in Real Time

Rewards Calculator

Before you deposit, calculate your potential returns over any time period—all in BTC terms. See exactly how much Bitcoin you could accumulate based on current yields.

Live Performance Dashboard

Once deposited, track your earned yield in real time. View your current APY, total position value, and exactly how much you've earned since deposit.

Strategy Transparency

See where your Bitcoin is deployed. View current allocations across strategies, how positions are balanced, and how the portfolio is diversified. Full visibility at all times.

Launching with Sentora, Powered by Veda

At launch, Bitcoin Earn pilots with Sentora as the first manager. Sentora is an institutional, non-custodial, DeFi platform that manages billions in capital across DeFi markets. Sentora provides vault curation and advanced risk management, backed by deep expertise in DeFi strategy execution.

The infrastructure is built on Veda's institutional-grade technology, the same platform powering Kraken's DeFi Earn and bringing yield opportunities to hundreds of thousands of users worldwide.

This combination means you benefit from the industry’s most advanced risk management and strategy solutions and institutional-quality infrastructure without giving up ownership of your assets.

Over time, Bitcoin Earn will onboard additional risk managers to operate vaults within the meta-vault structure, providing even greater diversification and access to unique strategies.

Proven Track Record

Lombard’s Vaults, the foundation powering Bitcoin Earn, have been operational since September 2024, attracting over $1 billion in cumulative deposits across various market conditions. This 18-month operational history demonstrates our experience navigating both favorable and challenging DeFi environments.

Launch Campaign: Boosted Incentives

To celebrate the launch of Bitcoin Earn, we're introducing a limited-time incentive campaign offering boosted returns for all new deposits.

Campaign Period: 24th February to 18th March

Reward: 8x Lux boost (up from 4x)

Early participants benefit from the highest boost rates.

Access here: https://www.lombard.finance/app/earn/

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Understanding the Strategies

Bitcoin Earn allocates deposits across a diversified mix of onchain strategies:

• Single-sided Bitcoin opportunities – lending, staking, and yield-bearing BTC positions across Aave, Spark, Morpho, and other established protocols
• Market-neutral strategies – using BTC as collateral to capture funding rates and arbitrage opportunities across lending venues.
• Select incentive programs – carefully vetted public and private campaigns offering additional returns

Allocations are actively rebalanced based on performance and market conditions, with strict limits on liquidity, duration, and concentration to any single protocol. All yields are continuously converted back to BTC and automatically compounded, ensuring your returns stay denominated in Bitcoin.

For detailed technical documentation, risk disclosures, and strategy architecture, visit https://docs.lombard.finance/use/use-bitcoin-earn

Structure & Terms

• Accepted assets: LBTC, BTC.b, WBTC, or native Bitcoin.
• Receipt token: BTCe (redeemable for deposited assets + yield)
• Meta-Vault structure: allocations to multiple specialised sub-vaults with dedicated professional managers.
• Management: First vault operated by Sentora, with additional managers onboarding over time
• Infrastructure: Veda
• Withdrawal period: Within 14 days
• Fees: 0.5% Management Fee