Activities on the Lombard project for a potential airdrop
Lombard is a liquid restaking protocol being developed for the Bitcoin ecosystem. The developers aim to make the first cryptocurrency not only a means of storage and investment, but also a useful Web3 tool to be used for a variety of purposes.
The team closed the seed round, which amounted to $16 million, with investors including Polychain Capital, OKX Ventures, Robot Ventures and other venture capital funds.
At the time of writing, the project has a campaign to farm points for providing liquidity. Below we will look at it in more detail and show you how to participate.
Guide to completing the activities
Note: you will need a Metamask-type wallet to pass. If you don’t have one, you can use our guide to set it up and customize it. You will also need a wallet that supports assets on the Bitcoin network, such as, Xverse or OKX.
Points are awarded for holding a liquid token (wrapped Bitcoin) on the wallet or in protocols from the project ecosystem. LBTC can be obtained in two ways: natively — by depositing Bitcoin into a stake and then minifying LBTC, or by swapping.
Note: in this guide we will use the native method. You can also swap any asset for LBTC in the Swap tab.
- Go to the site, connect your EVM wallet and click on Stake BTC.
Note: after staking, you will be able to get the wrapped LBTC asset.
- Next, connect the Bitcoin wallet:
- Enter the desired amount and confirm the staking by clicking Stake.
Note: The transaction will be completed within 60 minutes.
- Next, open the Dashboard tab and click Mint LBTC. After that, add the token to your wallet by clicking Add LBTC to wallet:
Next, you will be awarded points for holding LBTC once a day. You can also multiply them using various strategies that can be found on the DeFi and Vault tabs.
Conclusion
This stage of the protocol’s development is only a public beta. Despite this, TVL has already surpassed 4000 BTC and the team has managed to enter into partnerships with many DeFi protocols. By doing so, it has increased its ecosystem and provided users with the opportunity to farm points with shoulders and boosts.
It should also be noted that one of the investors is Babylon, so when you deposit in Lombard you can farm points from Babylon as well.
Highlights:
- two methods of obtaining LBTC are available;
- $16 mln has been invested in the project;
- the protocol is at the public beta stage.
If you have any questions when going through the activities, you can ask them in our X.
Useful links: Website | X | Discord
All information is provided for informational purposes only and should not be used as a basis for making investment decisions, nor should it be considered as a recommendation or advice to participate in investment transactions. Do Your Own Research.
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