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Polychain Capital has led a $16 million seed round for Lombard, a Bitcoin restaking protocol. Lombard is excited to bring the trend of restaking to Bitcoin, which is a significant development in decentralized finance. The funding round saw participation from several other investors, including Babylon Chain, DAO Five, FTI Global, Foresight Ventures, Mirana, 0xMantleEco Fund, Nomad Capital, and OKX Ventures. Lombard plans to use the funds to kick-start the Bitcoin restaking ecosystem. Once a user stakes Bitcoin via Babylon, Lombard issues a liquid and yield-bearing representation of staked Bitcoin using the token LBTC to unlock liquidity.
UPDATE: @LOMBARD_FINANCE, A BITCOIN RESTAKING PROTOCOL, SECURES $16M IN SEED FUNDING, LED BY POLYCHAIN CAPITAL
The Bitcoin restaking protocol Lombard raised $16 million in seed funding led by Polychain Capital. Once a user stakes Bitcoin via Babylon, Lombard issues the liquid and yield-bearing representation of staked Bitcoin using the token LBTC to unlock liquidity.…
Lombard is excited to announce our $16M seed round to kick-start the Bitcoin restaking ecosystem led by @polychain! With additional participation from @babylon_chain, @daofive, @FTI_Global, @ForesightVen, @mirana, @0xMantleEco Fund, @NomadCapital_io, @OKX_Ventures, and… https://t.co/QOlsrlQcz5
