Here’s a scary stat: AAVE has already tripled, going from its low of $114 to $329. In a bull market, whoever has higher liquidity and stronger product capabilities will achieve big results. Over the past few years, Ethereum has had giants like Aave and Maker, but on the BTC side, there’s always been a lack of a true “king of liquidity.” The emergence of Lombard has essentially filled this gap. Lombard isn’t just about simple collateralization or launching a Layer2. Its ambition is to awaken Bitcoin from cold wallets and integrate it into the entire DeFi ecosystem. Its core product is LBTC—a yield-bearing asset fully collateralized by BTC. In just 92 days since launch, it’s achieved $1 billion in TVL and captured 57% of the Bitcoin liquidity staking market share, crushing competitors in both speed and scale. What’s more impressive is that Lombard isn’t limited to just one chain. It’s already deployed across 12 public chains, including Ethereum, Solana, BNB, Sui, and more. You can find LBTC in top protocols like Aave, Spark, Pendle, http://Ether.fi, and Morpho. Essentially, Lombard is orchestrating the majority of BTC liquidity single-handedly. Its security is also top-notch. Behind it is an alliance of 14 institutions, including Galaxy, DCG, OKX, Wintermute, Amber, F2pool, Antpool, and other top players. Add to that its reserve proof mechanism, and LBTC has maintained zero depegging to date, giving both institutions and retail users peace of mind. As for the team’s background, it’s even more impressive. Former executives from Coinbase, Polychain, Ripple, Deutsche Bank, and OKX have come together, and on the funding side, Lombard is backed by heavyweights like Polychain, Franklin Templeton, Binance, OKX, Bybit, and Bitget. The lineup is ridiculously stacked. From product to ecosystem, Lombard’s approach is very similar to how Circle and Tether built stablecoins back in the day: first turn BTC into a liquidity gateway, then gradually build out full-stack infrastructure, ultimately supporting the entire Bitcoin capital market. The difference is that stablecoins create USD liquidity, while Lombard is creating BTC liquidity. To sum it up: Circle/Tether made USD the foundational liquidity of DeFi, while Lombard is making Bitcoin the core liquidity of multi-chain finance. Lombard isn’t a BTC Layer2—it’s more like the OKX wallet, a super aggregator of BTC liquidity, spreading Bitcoin’s liquidity pools across the entire Web3.