OKX Ventures Announces Investment in Lombard to Promote Innovation in Bitcoin Restaking Ecosystem

On July 3, OKX Ventures announced an investment in Lombard. Lombard is a Babylon-based solution that provides cross-chain liquidity staking of Bitcoin. Lombard's flagship product is LBTC. Lombard works with Babylon, whose 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 Babylon, staked Bitcoin assets are converted to LBTC, allowing them to be integrated into the most commonly used DeFi protocols on the Ethereum mainnet and future popular Layer 2 chains. LBTC moves seamlessly across chains and is used as collateral in decentralized finance, aiming to unlock more than $1.3 trillion in Bitcoin for lending and trading. This move will not only bring new capital opportunities to Bitcoin holders, but will also drive the growth of various ecosystems and DeFi protocols, thereby enhancing Bitcoin's utility and liquidity.