Lombard has completed a 1,400% overs described token sale, which will use it to build in the Bitcoin Defi Ecosystem.
Summary
- Lombard raised $ 94.7 million in his Bard -Token Public Sales after the goal of $ 6.75 million
- The project builds Defi functionality on top of the Bitcoin network
- The new Liquid Bitcoin Foundation will use the funds for development and ecosystem growth
The Defi -Ecosystem from Bitcoin (BTC) is increasingly attracting interest. On Wednesday 3 September Lombard Finance Closed The Bard -Token Public Sales, with $ 94.7 million. Fundraising surpassed the purpose of $ 6.75 million by 1,400%, with a growing interest in Bitcoin Defi applications.
“The momentum behind the sale of the community was clear everywhere, and the result clearly shows Lombard’s ability to stimulate the demand from the Onchain Bitcoin to new highlights now and in the future,” said Jacob Phillips, our co-founder of Lombard. “We are pleased to herald new and coordinated members of the community at 21,340 while we deliver against phase 2 of our route map.”
Bard will serve as the Governance -Token for the Bitcoin Defi protocol from Lombard. Lombard has stated that it will use the extra funds to develop its products and grow his ecosystem. It also says that it hopes that adding Bitcoin -Defi possibilities will help to bring more users into its ecosystem.
How Lombard’s Bitcoin Defi works
Lombard is the issuer of the LBTC token, a yield supporting token supported by Bitcoin. Token generates 1% APY via Bitcoin rash via Babylon Labs. In addition, the protocol uses a decentralized validator network to prevent the most important pitfalls with cross-chain bridges and packaged tokens.
In particular, traders have lost more than $ 2.8 billion in different blockchain bridge hacks. Moreover, some of these hacks were probably insider carpet tracts. For this reason, traders who exchange their bitcoin for a packaged token must be aware of the potential counterparty risk that goes with it.
