New vault system backs LBTC transfers with restaked LINK and BARD, offering up to 15% yields as Lombard readies token launch
Lombard Finance co-founder Jacob Phillips | Permissionless IV by Ben Solomon for Blockworks
Symbiotic has partnered with Chainlink and Bitcoin DeFi protocol Lombard to introduce a new cryptoeconomic security layer for cross-chain transfers of Lombard Staked Bitcoin (LBTC).
According to the announcement, the collaboration integrates Chainlink’s Cross-Chain Interoperability Protocol (CCIP) with Symbiotic’s restaking framework to safeguard LBTC as it moves across blockchains. Lombard, which has more than $1.5 billion in total value locked (TVL), is also preparing to launch its native token BARD, according to initial reporting by The Defiant.
As part of the rollout, Symbiotic unveiled two staking vaults: a $100 million LINK vault and a 20 million BARD vault. Users who deposit assets into these vaults can earn yields of up to 15% annual percentage yield (APY), while reinforcing LBTC’s cross-chain integrity.
The system uses a Symbiotic-powered monitoring network to verify transfers, adding a second layer of protection alongside CCIP’s modular security design.
The development positions Symbiotic, currently the third-largest restaking platform with $1.28 billion in TVL, as a direct competitor to EigenLayer and Babylon in the growing restaking sector. Lombard co-founder Jacob Phillips said the integration provides “stronger economic guarantees through staking.”
Symbiotic’s Misha Putiatin emphasized that “Symbiotic turns passive crypto assets into modular, active security infrastructure.” She noted that the integration “showcases how decentralized collateral can be deployed quickly and permissionlessly to reinforce cross-chain value flows and deliver tangible benefits to end users.”
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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