OKX Ventures Announces Investment in Lombard to Revolutionize Bitcoin Restaking Ecosystem
02 Julio 2024 - 9:46PM
OKX Ventures, the investment arm of leading Web3 technology company
OKX, has issued updates for July 2, 2024.
OKX Ventures Announces Investment in
Lombard to Revolutionize Bitcoin Restaking Ecosystem
OKX Ventures has invested in Lombard, a pioneering
company set to drive growth and innovation in the Web3 economy by
transforming Bitcoin from a static store of value into a dynamic
and productive financial asset.
Transforming Bitcoin with LBTC
Lombard's flagship product, LBTC, represents a
liquid and yield-bearing version of Bitcoin. Designed to move
seamlessly across chains and serve as collateral within
decentralized finance, LBTC aims to unlock over $1.3 trillion worth
of idle Bitcoin for lending, borrowing and trading. This initiative
promises to bring new capital opportunities for Bitcoin holders
while driving new users and new capital to various ecosystems and
DeFi protocols.
Strategic Vision and
Collaboration
Lombard is committed to uniting major ecosystems
and DeFi protocols to onboard LBTC, thus enhancing Bitcoin's
utility and liquidity.
Collaboration with Babylon
Lombard's collaboration with Babylon further
strengthens its market position. Babylon’s Staking Protocol allows
Bitcoin assets to be staked in a trustless and self-custodial
manner, providing economic security for Proof-of-Stake (PoS)
systems. Through Lombard, staked Bitcoin assets are transformed
into LBTC, enabling their integration across the most widely used
DeFi protocols on Ethereum Mainnet and later on popular Layer 2
chains and Layer 1’s.
To learn more about Lombard, click here. To join
the 'LBTC Waitlist' for exclusive access to LBTC and rewards for
early participation, click here.
For further information, please contact:
Media@okx.com
ENDS
About OKX Ventures
OKX Ventures is the investment arm of leading
crypto exchange and Web3 technology company OKX, with an initial
capital commitment of USD 100 million. It focuses on exploring the
best blockchain projects on a global scale, supporting cutting-edge
blockchain technology innovation, promoting the healthy development
of the global blockchain industry, and investing in long-term
structural value.
Through its commitment to supporting entrepreneurs
who contribute to the development of the blockchain industry, OKX
Ventures helps build innovative companies and brings global
resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
Disclaimer