Venus Stars
🔸 LBTC is a Bitcoin LST on Ethereum that enables BTC holders to participate in DeFi while maintaining exposure to Bitcoin.
For LBTC Market on Venus Core Pool : app.venus.io/#/core-pool?chainId=1
What are the advantages of LBTC in Venus? Let’s dive in 🧵
📌 LBTC is a Bitcoin Liquid Staked Token, building on top of Babylon’s Bitcoin staking, they created LBTC to unlock Bitcoin’s liquidity. BTC staked to Lombard is restaked into Babylon to earn a native yield. LBTC represents BTC staked into Babylon.
LBTC is backed 1:1 to BTC.
With LBTC, Lombard Points for stakers/suppliers, and the liquidity to use LBTC across DeFi and can be used as collateral on Venus.
📌 Users can now on Venus: • Supply LBTC as collateral on Venus • Borrow against LBTC • Participate in Venus markets while maintaining Bitcoin exposure • Benefit from Lombard Finance’s Lux Program and earn Babylon Points
📌Unlock the full potential of your Bitcoin holdings by integrating LBTC by Lombard Finance on Venus
LBTC is a yield-bearing, liquid staked token fully backed 1:1 by Bitcoin
Here’s a step-by-step guide to enhance your DeFi strategy 🧵
1. Convert BTC to LBTC :
– Bridging BTC to the DeFi ecosystem.
2. Deposit LBTC into Venus Protocol :
– Supply your LBTC as collateral on Venus Protocol to earn interest and gain the ability to borrow other assets.
3. Borrow wBTC and Swap for More LBTC :
– Borrow wBTC against your LBTC collateral, then swap the borrowed wBTC for additional LBTC. This strategy increases your exposure to Bitcoin while maximizing your participation in the Lombard Lux Program, potentially leading to future airdrop rewards.
4. Explore Lombard’s DeFi Vaults :
– Deposit your LBTC into Lombard Finance’s DeFi Vaults to earn additional yields and further enhance your DeFi strategy.
Alternative Strategy: Looping LBTC for USDC :
– On Venus Protocol, you can supply LBTC, borrow USDC, and then use the borrowed USDC to purchase more LBTC.
Repeating this process allows you to leverage your position, increasing your exposure to Bitcoin and accumulating more Lux Points for potential airdrops.
By following these strategies, you can effectively utilize your Bitcoin holdings within the DeFi ecosystem, optimizing yields and positioning yourself for potential future rewards.
📌Conclusion: LBTC on Venus opens the door for users to tap into a range of incentives from leading BTCfi protocols, including Lombard and Babylon. LBTC deployed on Venus earns Babylon Points and benefits from Lombard’s Lux program, providing a 3x Lux boost for LBTC collateral on Venus.
Learn more about LBTC and Venus Protocol: Venus Markets: app.venus.io
LBTC: lombard.finance
Technical details: docs-v4.venus.io