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Fast take:
The 2 firms have partnered to convey Lombard’s liquid-staked bitcoin LBTC to the EigenLayer ecosystem, for restaking.
Lombard and Eigen Foundations additionally plan to bolster BTC restaking safety and slashing design within the coming months.
The partnership will contribute to Lombard’s long-term plan of increasing Bitcoin utility by means of extra use instances.
Bitcoin liquid staking platform Lombard has partnered with Eigen Basis to convey BTC restaking to the EigenLayer ecosystem. The partnership permits Bitcoin holders to to earn yield by staking BTC on the Babylon protocol and additional rewards by means of restaking on Eigenlayer.
EigenLayer is the main crypto restaking protocol on Ethereum. The platform permits stakers to restake their staked tokens to earn extra rewards. The restaked belongings safe actively validated companies (AVSs) together with bridges, oracles, Layers 2s and facet chains, and knowledge availability networks.
Lombard’s liquid staking platform permits BTC holders to earn base yield by staking their tokens on Babylon.
Lombard and Eigen Basis plan to bolster BTC restaking safety and slashing design within the coming months. The partnership can be a part of Lombard’s objective of increasing Bitcoin past being a mere retailer of worth by including utility by means of extra use instances.
Commenting on the announcement, Lombard Finance co-founder Jacob Phillips advised The Block: “Partnering with EigenLayer creates a landmark second for Bitcoin, bringing LBTC as the primary BTC asset into the restaking ecosystem. This collaboration unlocks new rewards alternatives for Bitcoin holders whereas strengthening decentralized infrastructure throughout the ecosystem.”
Luke Hajdukiewicz, Eigen Lab’s head of AVS enterprise growth commented: “Lombard is an unbelievable addition to the ecosystem, their spectacular expertise within the BTC ecosystem will likely be a welcome drive to supply extra and numerous safety to AVSs.”
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