From Private Beta to Public Launch: Lombard’s 3-phase Launch

June 10, 2024

3 min read

Lombard has carefully planned a phased launch to sustainably grow adoption and protect our users. Our mission is to connect Bitcoin to DeFi, providing users with a yield-bearing, natively cross-chain, liquid Bitcoin; LBTC. We aim to achieve this through a three-phase rollout designed to ensure stability, security, and scalability.

LBTC offers a new way for Bitcoin holders to participate in the DeFi space. Our phased approach ensures that each step is thoroughly tested and optimized, prioritizing user security and system integrity.

Phase 1: Private Beta

Phase 1 introduces Lombard and LBTC with a gated approach.

Lombard is currently live on Ethereum mainnet in Private Beta mode. Eligible participants are staking native BTC and minting LBTC, Lombard’s liquid, yield-bearing, cross-chain Bitcoin, backed 1:1 by BTC.

During Phase 1, LBTC holders should expect LBTC to be liquid, with only a few opportunities to put LBTC to work in DeFi, and accrue Lombard Points for early participation.

The goal of Phase 1 is to test and optimize Lombard’s infrastructure ahead of increased demand in Phase 2. At the same time, the team will finalize integrations with major DeFi protocols where LBTC will be a foundational asset to collateralize, lend, borrow and trade in Phase 2 and beyond.

Phase 2: Public Beta

Phase 2 will make LBTC available to the public whilst maintaining deposit caps.

During Phase 2, LBTC holders should expect LBTC to be liquid, with many opportunities to put LBTC to work in DeFi on Ethereum mainnet and a handful of leading chains, and accrue Lombard Points for early participation.

Deposit caps will be in place throughout Phase 2 to manage demand. Deposit caps will increase steadily, with guaranteed, and early access provided to those on the LBTC Waitlist.

There will be times where the deposit capacity has been reached and it will not be possible to access LBTC immediately. The LBTC Waitlist is in place so participants can be alerted to deposit capacity increases and receive exclusive benefits and offers overtime.

Join the LBTC Waitlist to Unlock Early Access and Exclusive Benefits: https://lombard.finance/#LBTC_waitlist

The goal of Phase 2 is to control the deposit capacity and reach an open and uncapped state where any user can restake any amount of BTC and its derivatives in Phase 3.

Phase 3: Public Launch

Phase 3 will make LBTC available to the public and deposit caps will be removed.

During Phase 3, LBTC holders should expect LBTC to be yield-bearing, liquid, with opportunities to put LBTC to work in DeFi, on multiple chains and ecosystems, and accrue Lombard Points for early participation.

Lombard’s phased launch is designed to bring Bitcoin into the DeFi world in a secure and sustainable manner. From the careful testing in the Private Beta to the gradual public access in the Public Beta and finally the unrestricted availability, each phase is a step towards a robust and user-friendly ecosystem.

We invite you to join us on this exciting journey, participate in our growing community, and take advantage of the opportunities that LBTC brings to the DeFi space.