Symbiotic works together with Chainlink and Bitcoin Defi Protocol Lombard to introduce a new Cryyptos-economic security layer for cross-chain transfers from Lombard Stant Bitcoin (LBTC).
According to the announcement, the collaboration integrates the Cross-Chain Interoperability Protocol (CCIP) from Chainlink with the repairing Symbiotic frambiotic to protect LBTC while moving over blockchains. Lombard, which has locked more than $ 1.5 billion in total value (TVL), is also preparing for launching his native token bard, according to the initial report by the Defiant.
As part of the rollout, Symbiotic revealed two strike safes: a link Vault of $ 100 million and a 20 million Bard Vault. Users who deposit assets in these safes can achieve the yields of a maximum of 15% annual percentage of yield (APY), while the integrity of LBTC reinforces the integrity of LBTC.
The system uses a symbiotic-driven security network to verify transfers, adding a second protection layer in addition to CCIP’s modular security design.
The Symbiotic development positions, currently the third largest repair platform with $ 1.28 billion in TVL, as a direct competitor of Eigenlayer and Babylon in the growing repeated sector. Co-founder of Lombard, Jacob Phillips, said that the integration “offers stronger economic guarantees through bets”.
Symbiotics Misha Putiatin emphasized that “Symbiotic changes change passive crypto assets into modular, active security infrastructure.” She noted that the integration “shows how decentralized collateral can be implemented quickly and permission to strengthen cross-chain value flows and to deliver tangible benefits to end users.”
