[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  spacebyte โ [@_thespacebyte](/creator/twitter/_thespacebyte) on x 21.7K followers Created: 2025-07-03 12:28:47 UTC The first half of 2025 marked a decisive turning point for Bitcoin in DeFi. While $WBTC continued to dominate in name recognition, $LBTCโthe non-custodial, yield-generating vault token from @Lombard_Financeโquietly became the cornerstone of a new financial layer: BTCfi. [๐งต] This H1 report explores how @Lombard_Finance has emerged as the leading BTCfi protocol by combining: โข Non-custodial minting architecture โข Composable DeFi vault strategies โข A multi-chain $LBTC standard โข Babylon-powered staking rewards ($BABY) ๐๐ณ๐ฐ๐ฎ ๐ท๐ข๐ถ๐ญ๐ต ๐ญ๐ข๐ถ๐ฏ๐ค๐ฉ๐ฆ๐ด ๐ต๐ฐ ๐ฆ๐น๐ฑ๐ฐ๐ฏ๐ฆ๐ฏ๐ต๐ช๐ข๐ญ ๐จ๐ณ๐ฐ๐ธ๐ต๐ฉ ๐ช๐ฏ $LBTC ๐ฉ๐ฐ๐ญ๐ฅ๐ฆ๐ณ๐ด, ๐1 ๐ธ๐ข๐ด ๐ต๐ฉ๐ฆ ๐ฑ๐ฉ๐ข๐ด๐ฆ ๐ธ๐ฉ๐ฆ๐ณ๐ฆ ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏโ๐ด ๐ช๐ฅ๐ญ๐ฆ ๐ค๐ข๐ฑ๐ช๐ต๐ข๐ญ ๐ง๐ฐ๐ถ๐ฏ๐ฅ ๐ฏ๐ฆ๐ธ ๐ฑ๐ถ๐ณ๐ฑ๐ฐ๐ด๐ฆ. ----- ๐ฃ๐ฟ๐ผ๐๐ผ๐ฐ๐ผ๐น ๐๐ฟ๐ผ๐๐๐ต & ๐๐ฑ๐ผ๐ฝ๐๐ถ๐ผ๐ป Total Value Locked (TVL) โข Jan 1, 2025 (estimated): ~$1.2B โข June 30, 2025: ~$1.8Bโ$2.0B โข Q1 โ Q2 growth: +20โ30% Vault-specific growth was driven by the Lombard DeFi Vault and Sentora Vault, with estimated TVLs of $500Mโ$700M and $300Mโ$500M respectively. Sonic and TAC Vaults showed smaller but steady adoption. $LBTC ๐ฆ๐๐ฝ๐ฝ๐น๐ โข Start of H1: XXXXXX $LBTC โข End of H1: XXXXXX $LBTC โข April ATH: XXXXXX $LBTC โข Net Growth (JanโJun): +6.04% ๐ ๐๐น๐๐ถ-๐๐ต๐ฎ๐ถ๐ป ๐๐ ๐ฝ๐ฎ๐ป๐๐ถ๐ผ๐ป โข Ethereum remains dominant with XXXXXX $LBTC (80%) โข Notable growth on: - #Berachain: XXX $LBTC - #Base: XXX $LBTC - #Sonic: XXX $LBTC - #Sui: XX $LBTC ๐จ๐๐ฒ๐ฟ ๐ ๐ฒ๐๐ฟ๐ถ๐ฐ๐ โข XXXXXX wallets minted $LBTC โข XXXXXX current holders โข Vault user base estimated at 30,000+ active users ๐ฉ๐ฎ๐๐น๐ ๐ ๐๐น๐๐ถ๐ฝ๐น๐ถ๐ฒ๐ฟ๐ โข Lombard DeFi Vault: 4x Lombard Lux + 3x Veda + 1x Babylon โข Sentora & Concrete Vaults: 4โ5x multipliers ๐๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐๐ฃ๐ฌ๐ โข Lombard DeFi Vault: 12โ15% โข Sentora: 6โ8% โข Sonic & Concrete: 5โ7% ๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ ๐ง๐๐ฝ๐ฒ๐ โข Lending: Morpho Blue, Gearbox โข LPing: Curve, Uniswap, Pendle LPT โข Restaking: EigenLayer integration (April 2025) ๐๐ฐ๐ผ๐๐๐๐๐ฒ๐บ ๐๐ฟ๐ผ๐๐๐ต & ๐๐ป๐๐ฒ๐ด๐ฟ๐ฎ๐๐ถ๐ผ๐ป๐ โ Chain Deployments in H1 โข Sonic, Berachain, Base, and Sui supported $LBTC vaults โข Ethereum retained deep liquidity and composability โ Top DeFi Integrations โข Lending: Aave, Morpho, Gearbox โข Yield: Pendle, EigenLayer, Veda โข LP/DEX: Uniswap, Curve ๐๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐๐ฒ ๐ฃ๐ผ๐๐ถ๐๐ถ๐ผ๐ป๐ถ๐ป๐ด $LBTC vs $WBTC vs $SolvBTC vs $cbETH โข $LBTC: Non-custodial, multi-chain, yield-enabled โข $WBTC: Custodial, most liquid, but no native yield โข $SolvBTC: Babylon-native, less composable โข $cbETH: Ethereum-only, no $BTC exposure ๐ฃ๐ฒ๐ด ๐ฆ๐๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ โข $LBTC traded near 0.996โ1.01 BTC throughout H1 โข Tight peg maintained due to on-chain vault redemptions and oracle design ๐๐ง๐๐ณ๐ถ ๐๐ ๐๐ง๐๐ณ๐ถ โข Lido TVL remains dominant, but Lombard is growing faster in Bitcoin-native TVL โข LBTC introduces capital efficiency where $WBTC and $stETH do not intersect ๐ ๐ถ๐น๐ฒ๐๐๐ผ๐ป๐ฒ๐ April: $LBTC surpasses 21K minted May: Concrete & Sentora vaults oversubscribed June: Sonic vault campaign closes with 300+ $LBTC TVL ๐๐ฎ ๐ข๐๐๐น๐ผ๐ผ๐ธ Key Catalysts to Watch: โข Lombard token launch and governance shift โข Vault expansion to Starknet and Cosmos-based chains โข Pendle LPT integrations โข Babylon Phase X yield acceleration ๐๐น๐ผ๐๐ถ๐ป๐ด ๐ง๐ต๐ผ๐๐ด๐ต๐ H1 2025 confirmed a powerful thesis: $BTC capital doesnโt have to be idle. @Lombard_Finance didnโt just create a new wrapperโit built a vault-powered BTCfi economy. With non-custodial security, staking yield, and composability across chains, $LBTC is positioned to become the real stable $BTC of DeFi.  XXXXXX engagements  **Related Topics** [wbtc](/topic/wbtc) [protocol](/topic/protocol) [lombardfinance](/topic/lombardfinance) [coins btcfi](/topic/coins-btcfi) [token](/topic/token) [vault](/topic/vault) [$lbtcthe](/topic/$lbtcthe) [bitcoin](/topic/bitcoin) [Post Link](https://x.com/_thespacebyte/status/1940749563180060805)
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spacebyte โ @_thespacebyte on x 21.7K followers
Created: 2025-07-03 12:28:47 UTC
The first half of 2025 marked a decisive turning point for Bitcoin in DeFi.
While $WBTC continued to dominate in name recognition, $LBTCโthe non-custodial, yield-generating vault token from @Lombard_Financeโquietly became the cornerstone of a new financial layer: BTCfi. [๐งต]
This H1 report explores how @Lombard_Finance has emerged as the leading BTCfi protocol by combining:
โข Non-custodial minting architecture โข Composable DeFi vault strategies โข A multi-chain $LBTC standard โข Babylon-powered staking rewards ($BABY)
๐๐ณ๐ฐ๐ฎ ๐ท๐ข๐ถ๐ญ๐ต ๐ญ๐ข๐ถ๐ฏ๐ค๐ฉ๐ฆ๐ด ๐ต๐ฐ ๐ฆ๐น๐ฑ๐ฐ๐ฏ๐ฆ๐ฏ๐ต๐ช๐ข๐ญ ๐จ๐ณ๐ฐ๐ธ๐ต๐ฉ ๐ช๐ฏ $LBTC ๐ฉ๐ฐ๐ญ๐ฅ๐ฆ๐ณ๐ด, ๐1 ๐ธ๐ข๐ด ๐ต๐ฉ๐ฆ ๐ฑ๐ฉ๐ข๐ด๐ฆ ๐ธ๐ฉ๐ฆ๐ณ๐ฆ ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏโ๐ด ๐ช๐ฅ๐ญ๐ฆ ๐ค๐ข๐ฑ๐ช๐ต๐ข๐ญ ๐ง๐ฐ๐ถ๐ฏ๐ฅ ๐ฏ๐ฆ๐ธ ๐ฑ๐ถ๐ณ๐ฑ๐ฐ๐ด๐ฆ.
๐ฃ๐ฟ๐ผ๐๐ผ๐ฐ๐ผ๐น ๐๐ฟ๐ผ๐๐๐ต & ๐๐ฑ๐ผ๐ฝ๐๐ถ๐ผ๐ป
Total Value Locked (TVL)
โข Jan 1, 2025 (estimated): ~$1.2B
โข June 30, 2025: ~$1.8Bโ$2.0B
โข Q1 โ Q2 growth: +20โ30%
Vault-specific growth was driven by the Lombard DeFi Vault and Sentora Vault, with estimated TVLs of $500Mโ$700M and $300Mโ$500M respectively. Sonic and TAC Vaults showed smaller but steady adoption.
$LBTC ๐ฆ๐๐ฝ๐ฝ๐น๐
โข Start of H1: XXXXXX $LBTC
โข End of H1: XXXXXX $LBTC
โข April ATH: XXXXXX $LBTC
โข Net Growth (JanโJun): +6.04%
๐ ๐๐น๐๐ถ-๐๐ต๐ฎ๐ถ๐ป ๐๐ ๐ฝ๐ฎ๐ป๐๐ถ๐ผ๐ป
โข Ethereum remains dominant with XXXXXX $LBTC (80%)
โข Notable growth on:
- #Berachain: XXX $LBTC
- #Base: XXX $LBTC
- #Sonic: XXX $LBTC
- #Sui: XX $LBTC
๐จ๐๐ฒ๐ฟ ๐ ๐ฒ๐๐ฟ๐ถ๐ฐ๐
โข XXXXXX wallets minted $LBTC โข XXXXXX current holders โข Vault user base estimated at 30,000+ active users
๐ฉ๐ฎ๐๐น๐ ๐ ๐๐น๐๐ถ๐ฝ๐น๐ถ๐ฒ๐ฟ๐
โข Lombard DeFi Vault: 4x Lombard Lux + 3x Veda + 1x Babylon
โข Sentora & Concrete Vaults: 4โ5x multipliers
๐๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐๐ฃ๐ฌ๐
โข Lombard DeFi Vault: 12โ15%
โข Sentora: 6โ8%
โข Sonic & Concrete: 5โ7%
๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ ๐ง๐๐ฝ๐ฒ๐
โข Lending: Morpho Blue, Gearbox
โข LPing: Curve, Uniswap, Pendle LPT
โข Restaking: EigenLayer integration (April 2025)
๐๐ฐ๐ผ๐๐๐๐๐ฒ๐บ ๐๐ฟ๐ผ๐๐๐ต & ๐๐ป๐๐ฒ๐ด๐ฟ๐ฎ๐๐ถ๐ผ๐ป๐
โ Chain Deployments in H1
โข Sonic, Berachain, Base, and Sui supported $LBTC vaults
โข Ethereum retained deep liquidity and composability
โ Top DeFi Integrations
โข Lending: Aave, Morpho, Gearbox
โข Yield: Pendle, EigenLayer, Veda
โข LP/DEX: Uniswap, Curve
๐๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐๐ฒ ๐ฃ๐ผ๐๐ถ๐๐ถ๐ผ๐ป๐ถ๐ป๐ด
$LBTC vs $WBTC vs $SolvBTC vs $cbETH
โข $LBTC: Non-custodial, multi-chain, yield-enabled
โข $WBTC: Custodial, most liquid, but no native yield
โข $SolvBTC: Babylon-native, less composable
โข $cbETH: Ethereum-only, no $BTC exposure
๐ฃ๐ฒ๐ด ๐ฆ๐๐ฎ๐ฏ๐ถ๐น๐ถ๐๐
โข $LBTC traded near 0.996โ1.01 BTC throughout H1
โข Tight peg maintained due to on-chain vault redemptions and oracle design
๐๐ง๐๐ณ๐ถ ๐๐ ๐๐ง๐๐ณ๐ถ
โข Lido TVL remains dominant, but Lombard is growing faster in Bitcoin-native TVL
โข LBTC introduces capital efficiency where $WBTC and $stETH do not intersect
๐ ๐ถ๐น๐ฒ๐๐๐ผ๐ป๐ฒ๐
April: $LBTC surpasses 21K minted
May: Concrete & Sentora vaults oversubscribed
June: Sonic vault campaign closes with 300+ $LBTC TVL
๐๐ฎ ๐ข๐๐๐น๐ผ๐ผ๐ธ
Key Catalysts to Watch:
โข Lombard token launch and governance shift
โข Vault expansion to Starknet and Cosmos-based chains
โข Pendle LPT integrations
โข Babylon Phase X yield acceleration
๐๐น๐ผ๐๐ถ๐ป๐ด ๐ง๐ต๐ผ๐๐ด๐ต๐
H1 2025 confirmed a powerful thesis: $BTC capital doesnโt have to be idle.
@Lombard_Finance didnโt just create a new wrapperโit built a vault-powered BTCfi economy. With non-custodial security, staking yield, and composability across chains, $LBTC is positioned to become the real stable $BTC of DeFi.
XXXXXX engagements
Related Topics wbtc protocol lombardfinance coins btcfi token vault $lbtcthe bitcoin