Lombard Finance to launch its Bitcoin liquid staking token LBTC on Sui Blockchain

PANews March 6th news, according to CoinDesk, Lombard Finance announced that its Bitcoin liquid pledged token LBTC will launch the Sui blockchain on March 12th, which is the first time that LBTC has integrated into a non-EVM-compatible chain. At present, LBTC has been deployed in EVM-compatible networks such as Ethereum, Base and BNB Chain, with circulation of nearly US$2 billion, of which 70% have been used in DeFi protocols such as Aave and Morpho.

LBTC will be supported by Sui Wallet and Phantom Wallet and will be first integrated into the highest Sui protocols for TVLs such as Cetus, Navi Protocol and SuiLend. In addition, Lombard Finance plans to launch incentives to encourage Bitcoin adoption of Sui ecosystem and suggest that it may expand to more non-EVM networks in the future.