Bitcoin’s most important upgrade has arrived on Solana. Lombard is proud to bring LBTC, the leading liquid staked Bitcoin (LST), to Solana — in association with Jupiter, Drift, Kamino, Meteora, LayerZero, Pyth and RedStone Oracles.

Lombard’s LBTC — the leading yield-bearing Bitcoin asset, fully backed by BTC, secured by a decentralized validator network of 14 top institutions (Security Consortium) — is now live across the Solana ecosystem. With $1.5B in circulation and ~1% BTC-denominated yield built in, LBTC transforms Bitcoin from idle capital into productive collateral for one of crypto’s fastest-growing DeFi environments.

“We’re pleased to welcome Lombard to Solana. Lombard’s LBTC is the first yield-bearing Bitcoin to join the ecosystem, with the scale and liquidity needed to position Solana as a high-performance liquidity hub for BTC. LBTC’s native yield and deep DeFi integrations unlock a new chapter for Solana DeFi.” — Jiani Chen, Growth, Solana Foundation

Bitcoin Comes to Life on Solana

Solana is one of the most dynamic ecosystems in crypto, with over $10B in total value locked, near-instant finality, and near-zero fees. It’s built to scale, and now it’s ready for Bitcoin.

From perps to stablecoin borrowing and high-performance trading, Solana’s DeFi landscape offers serious utility. But until now, BTC has been limited to non-yielding BTC derivatives like cbBTC with fragmented liquidity.

That changes with LBTC.

LBTC brings fully-backed, and liquid BTC with built-in yield to Solana. It allows users to hold Bitcoin, earn a yield, and use it as productive capital across Solana DeFi, all without compromising security or performance.

What Is LBTC?

LBTC is a liquid staked version of Bitcoin, issued by Lombard and fully backed by BTC. Since launching in August 2024, it has become the fastest-growing yield-bearing token in crypto, with over $1.5B in circulation and integrations across 12 ecosystems including Ethereum, Base, Sui and Katana.

Now, it’s coming to Solana — with all its benefits:

• ~1% BTC-denominated yield, automatically accrued to LBTC
• Fully backed by BTC, with real-time proof of reserves
• Near-zero swap fees — from cbBTC to LBTC SPL token that can be used as collateral on DeFi applications across Solana
• Deep incentives to bootstrap adoption and integrations
• Secured by a consortium of 14 leading digital asset institutions including OKX, Galaxy, Wintermute

“Bitcoin is the most important asset of our generation, and it’s finally moving onchain. LBTC shows what’s possible when Bitcoin gets yield, composability, and real market access. We’re excited to bring that momentum to Solana.” - Jacob Phillips, Co-Founder, Lombard

Day 1 Utility LBTC is natively issued on Solana and available from launch day across top DeFi protocols.

BTC holders can:

• Stake native BTC via Lombard to mint LBTC on Solana
• Swap cbBTC and other BTC derivatives for LBTC on the Lombard dApp and via Solana DEXs including Meteora
• Bridge LBTC from Ethereum mainnet to Solana with LayerZero
• Use LBTC as collateral to borrow stablecoins like USDG, and X with Kamino and JupLend.
• Trade LBTC/SOL on perps markets and AMMs like Drift

"For the first time, liquid staked yield bearing Bitcoin via LBTC can be used as productive collateral in a high-performance onchain environment to speculate, hedge, and participate in perps activity. Drift is proud to be the first venue where LBTC can power decentralized perps trading, enabling a whole new class of BTC-native strategies through vaults. This is what composable Bitcoin looks like." - Cindy Leow, CEO and Co-founder at Drift

“LBTC represents a major step forward for Bitcoin in Solana DeFi. At Jupiter, we’re proud to support its launch on Solana — from seamless swapping to productive use in Jupiter Lend. With industry-leading LTVs, robust risk management, and liquidity incentives, we’re building the most capital-efficient money market on Solana and unlocking new opportunities for LBTC as collateral.” - Ben Liew, Growth & Partnerships at Jupiter

Listing LBTC on Kamino enables Bitcoin holders to access Solana's leading credit market while generating yield on their Bitcoin via LBTC. It’s exciting to work with Lombard to grow Bitcoin utility on Solana! - Mark Hull, Contributor, Kamino

“LBTC brings something we haven’t had on Solana before - native, yield-bearing Bitcoin that’s actually usable in DeFi. It’s great to support this with deep trading pools on Meteora from day one, and we’re looking forward to seeing how BTC liquidity grows across the ecosystem.” - Malcolm Ho, Head of BD, Meteora

Borrowing Stablecoins on Solana Just Got Cheaper. One of the core advantages of using LBTC to borrow stablecoins on Solana is the reduction in effective borrowing costs.

Thanks to LBTC’s built-in ~1% BTC yield (currently 0.85%), your borrow position works for you, making it an ideal strategy for stablecoin seekers. This strategy is supported by Lombard and lending protocol partners to kickstart LBTC lending on Solana.

Incentives

Lombard, and key ecosystem protocols are providing strong incentives for users that activate their BTC in DeFi.

NEAR-ZERO SWAP OFFER WITH METEORA

Near-zero fee swaps (1bps) from cbBTC → LBTC via Meteora. Incentive rewards for borrowing, trading, and liquidity strategies across launch protocols.

Technical Information

When a user stakes BTC from a Bitcoin address to Lombard, the user receives LBTC to a Solana address in return.

Redstone Oracles provide the price feed for LBTC, while LayerZero supports LBTC bridging from Ethereum mainnet to Solana.

LBTC is a yield-bearing liquid staked token, accruing yield directly from the Babylon Bitcoin Staking Protocol. Yield is variable around 0.5%-1% at the time of writing.

LBTC is not a rebasing asset, rather the value of LBTC increases as staking rewards accrue and the amount of LBTC stays the same. When redeemed, each LBTC becomes redeemable for more BTC.

A Shared Mission: Growing Bitcoin Onchain

Lombard exists to build Bitcoin Capital Markets onchain, unlocking yield, liquidity, and composability for the world’s most important digital asset. Solana is uniquely positioned to support this future. With speed, scale, and a thriving DeFi stack, it offers the ideal environment for Bitcoin to become productive capital, not just passive store of value.

With LBTC live on Solana, that future starts now.

Get Started with LBTC on Solana

LBTC is now live and available across the Solana ecosystem. To mint LBTC, explore integrations, or participate in incentive programs, visit: https://www.lombard.finance/app/stake/

Access all DeFi opportunities for your LBTC on Solana: https://www.lombard.finance/app/dashboard/

About Lombard

Lombard is building onchain Bitcoin Capital Markets, to unlock the full potential of the most important asset of our generation.

Founded in 2024, Lombard pioneered Bitcoin's integration into DeFi with LBTC, the leading liquid staked Bitcoin, secured by a consortium of top digital asset institutions. Today, Lombard is building full-stack infrastructure to accelerate onchain BTC adoption by holders, protocols, and platforms. Lombard is built and backed by digital asset leaders, including top DeFi protocols, institutions, and exchanges.

Learn more at www.lombard.finance.