Lombard Finance’s liquid-staking bitcoin token, LBTC, is set to launch on the Sui blockchain this Thursday. This marks the token’s first venture outside of Ethereum Virtual Machine (EVM) compatible chains. Sui’s DeFi applications currently hold around $1.3 billion in total value locked (TVL). The expansion allows Sui users to leverage LBTC for staking rewards and utilize it across various DeFi protocols. Sui Wallet, Phantom Wallet, and major protocols like Cetus, Navi Protocol, and SuiLend will support LBTC. Since its launch, LBTC has seen nearly $2 billion in circulation, with 70% actively used in DeFi protocols like Aave and Morpho. Lombard Finance aims to promote bitcoin adoption in innovative blockchain ecosystems, ensuring high security and liquidity standards.
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