⭐️One, The Missing Bitcoin Puzzle After ETFs

In the past two years, Wall Street has opened a door for Bitcoin with ETFs.

This means that hundreds of billions of dollars can finally enter Bitcoin 'legally', and the market size has visibly expanded. However, the issue is that after holders buy in, the assets remain largely dormant, unable to be combined for use or generate yield on-chain.

This gap with the Ethereum ecosystem has become increasingly apparent. ETH has stablecoin USDC providing liquidity, LST products like Lido promoting re-staking, and the on-chain economic flywheel is operating at high speed. In contrast, BTC, despite being the most important asset in the crypto market, has long remained in a 'cold wallet' storage phase.

In other words, ETFs have solved the 'how money comes in' problem, but have not addressed the 'how money flows on-chain' issue.

⭐️Two, Insights from Stablecoins

To understand what kind of infrastructure BTC needs, it may be helpful to review the development of stablecoins.

USDT was launched in 2014, followed by Circle's USDC, both of which today uphold nearly $300 billion in market value. The significance of stablecoins lies not in a single 'token', but in the trustworthy issuance + secure custody + infrastructure they provide.

This entire system allows fiat currency to smoothly enter on-chain and circulate among various DeFi protocols.
BTC also needs a similar puzzle piece. Its scale is seven times that of stablecoins, but on-chain, there are hardly any methods found to fully unleash its potential.

This is precisely the historical context in which @Lombard_Finance emerged.

⭐️Three, Lombard: The 'BlackRock' of the Bitcoin Space

If ETFs have brought Bitcoin to Wall Street, then Lombard's goal is to bring Bitcoin into the on-chain financial world.

Lombard first launched $LBTC — the first interest-bearing asset backed by BTC, which can earn yields in protocols like Aave, Spark, Pendle, and Etherfi. In just 92 days, the TVL of $LBTC surpassed $1 billion, becoming the fastest-growing interest-bearing token in history; it currently holds a market share of 40%, making it the largest BTC liquid staking token (LST).

⭐️Four, Track Comparison: An Irreplaceable Unique Positioning

Some may compare Babylon, Lido, or Etherfi.

But Babylon is just a staking infrastructure; Lido is the leader in ETH staking but lacks a full-stack layout for BTC; Etherfi, while balancing issuance and treasury, falls short in scale and ecosystem coverage.

From the market size perspective, Ethena is positioned for stablecoin yields (target market $290 billion), with an FDV of $9.5 billion; Lombard is positioned for BTC yields (target market $2.2 trillion), with potential far exceeding the former.

⭐️Five, How to Participate in $BARD New Offering?

In the Lombard ecosystem, $BARD serves as a beta option for investing in BTC growth.

Lombard will soon launch a Community Round, with the new offering taking place on Buidlpad! Here are the key details:

- Pre-sale amount: $6.75 million
- FDV valuation: $450 million
- Token allocation: 1.5% of total supply
- Amount: $50 – $5,000 (holding Lombard Lux can increase to $20,000)
- Payment: $USD1, $BNB, $LBTC
- Unlock: 100% unlocked on TGE day

📅Key Dates:

- KYC: August 26-29
- New offering: September 1-2 (link: https://buidlpad.com/projects/lombard)
- Refund: September 4

Lombard has also prepared a community creation event, with 10% of the pre-sale allocation going to active creators and long-term supporters. The specific activity is to post original content related to Lombard on X, tagging @buidlpad and adding next to the nickname.

🧩$BARD. https://buidlpad.com/projects/lombard, submission deadline is today, August 25.

⭐️Six, Team and Financing: Professional Background and Institutional Trust Endorsement

In a market as large as Bitcoin, which has extremely high security requirements, the project team and capital support are often more critical than the narrative.

Lombard's team comes from Coinbase, Ripple, Babylon, Deutsche Bank, Microsoft, etc., possessing both traditional finance and crypto-native experience.

In terms of financing, Lombard has completed $17 million in funding, with investors including top institutions like Polychain Capital, YZi Labs, and OKX Ventures, providing long-term endorsement for its strategic vision.

Having discussed so much, let me summarize. Lombard is not building an isolated product, but a complete financial system that allows Bitcoin to generate yields, flow, and be redistributed.

Investing in BARD is investing in BTC, and from this perspective, the early participation returns of Lombard are quite promising. What do you think?