Lombard

Lombard is a decentralized finance application, launched in 2024, that aims to bring Bitcoin into on-chain capital markets by wrapping it into a yield-bearing liquid staking token called LBTC. The project targets Bitcoin holders, DeFi protocols, and platforms that want to put idle Bitcoin to work within decentralized finance without giving up custody to a single entity. It claims to address the problem that Bitcoin, despite being the largest digital asset by market capitalization, has historically been unable to participate natively in DeFi yield and lending markets.

Lombard operates across the Ethereum and BNB Chain ecosystems and has no block time of its own, meaning it relies on those underlying networks for settlement rather than running its own consensus layer. LBTC is secured by a decentralized consortium of 14 digital asset institutions, and the project also provides a Staking SDK and supporting infrastructure to allow other protocols to integrate Bitcoin staking. BARD is the protocol's native token and exists within this ecosystem, though the data provided does not specify its precise governance or fee-capture mechanics beyond its role in the broader Lombard infrastructure.

The data provided does not include a fee stream or revenue figure for Lombard, so no fee-based measures such as protocol income, fee recipients, or payer structures can be reported here. What the data does show is that approximately 39.66 percent of the maximum supply of one billion BARD tokens is currently in circulation, as measured at the most recent point-in-time snapshot. The ratio of fully diluted valuation to market capitalization stands at 2.52 at that same point in time, reflecting the gap between circulating and total potential supply. Until fee or revenue data becomes available, any fee-based analysis of this protocol would not be supported by the figures this site holds.