Total Value Locked$545.89m
TVL by Chain
Bitcoin$545.89m
Ethereum$0
Key Metrics
Fees 30d$727,142
Fees 30d by chain
Ethereum$1.02m
Fees 7d$56,204
Ethereum$80,844
Fees 24h$27,549
Ethereum$27,549
Cumulative Fees$4.68m
Ethereum$5.16m
Revenue 30d$58,170
Revenue 30d by chain
Ethereum$81,301
Revenue 7d$4,495
Ethereum$6,467
Revenue 24h$2,204
Ethereum$2,204
Cumulative Revenue$415,189
Ethereum$453,557
Holders Revenue 30d$0
Holders Revenue 30d by chain
Ethereum$0
Holders Revenue 7d$0
Ethereum$0
Holders Revenue 24h$0
Ethereum$0
Cumulative Holders Revenue$0
Ethereum$0
Protocol Information
LBTC is a yield-bearing Bitcoin asset, 1:1 backed by native bitcoin, combining an institutional off-chain yield strategy with yield denominated in Bitcoin and full composability across DeFi. LBTC targets a 2.5% APY generated by an off-chain covered-call options strategy managed by Bitwise Investment Manager, LLC. LBTC is deeply integrated as collateral across DeFi applications on 10+ chains, allowing holders to earn yield and access liquidity. LBTC is secured by a multi-institution Security Consortium, and qualified custodians including Anchorage and Kraken.
Audits:
Methodology
TVL: LBTC is a yield-bearing Bitcoin asset, 1:1 backed by native bitcoin. TVL counts the native BTC in Lombard deposit addresses, capped at the LBTC staking vault base balance reported by the Lombard ledger, plus the LFBTC balance that stands in for the BTC deposit addresses excluded from the address book.View code on GitHubFees: A fixed LBTC Network Security Fee (0.0001 LBTC) is charged for each BTC withdrawal. Additionally, staking rewards accrue from Bitcoin staking via Babylon protocol, reflected in LBTC exchange rate appreciation.View code on GitHubRevenue: Network Security Fees plus 8% performance fee on staking rewards (Finality Providers commission).View code on GitHubHolders Revenue: View code on GitHubYields
Pools Tracked1
Average Supply APY0.87%
Competitors
Lombard LBTC history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Sep 4, 2024 to Oct 31, 2026.
All-time high TVL: $2.107b on May 12, 2025. All-time low TVL: $250.61m on Sep 7, 2024.
Daily TVL, Oct 2, 2026 to Oct 31, 2026
| Date | TVL |
|---|---|
| Oct 2, 2026 | $684.92m |
| Oct 3, 2026 | $679.96m |
| Oct 4, 2026 | $681.03m |
| Oct 5, 2026 | $694.57m |
| Oct 6, 2026 | $687.1m |
| Oct 7, 2026 | $683.69m |
| Oct 8, 2026 | $669.23m |
| Oct 9, 2026 | $638.74m |
| Oct 10, 2026 | $645.79m |
| Oct 11, 2026 | $649.7m |
| Oct 12, 2026 | $654.21m |
| Oct 13, 2026 | $648.35m |
| Oct 14, 2026 | $653.79m |
| Oct 15, 2026 | $639.84m |
| Oct 16, 2026 | $631.67m |
| Oct 17, 2026 | $624.96m |
| Oct 18, 2026 | $627.39m |
| Oct 19, 2026 | $633.33m |
| Oct 20, 2026 | $626.76m |
| Oct 21, 2026 | $636.16m |
| Oct 22, 2026 | $635.03m |
| Oct 23, 2026 | $606.33m |
| Oct 24, 2026 | $599.6m |
| Oct 25, 2026 | $600.19m |
| Oct 26, 2026 | $594.25m |
| Oct 27, 2026 | $592.78m |
| Oct 28, 2026 | $602.28m |
| Oct 29, 2026 | $603.47m |
| Oct 30, 2026 | $548.23m |
| Oct 31, 2026 | $544.81m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.066b |
| Dec 31, 2024 | $1.489b |
| Jan 31, 2025 | $1.913b |
| Feb 28, 2025 | $1.591b |
| Mar 31, 2025 | $1.653b |
| Apr 30, 2025 | $1.927b |
| May 31, 2025 | $1.933b |
| Jun 30, 2025 | $1.696b |
| Jul 31, 2025 | $1.647b |
| Aug 31, 2025 | $1.514b |
| Sep 30, 2025 | $1.423b |
| Oct 31, 2025 | $1.362b |
| Nov 30, 2025 | $1.077b |
| Dec 31, 2025 | $970.98m |
| Jan 31, 2026 | $941.64m |
| Feb 28, 2026 | $691.19m |
| Mar 31, 2026 | $710.24m |
| Apr 30, 2026 | $757.89m |
| May 31, 2026 | $706.23m |
| Jun 30, 2026 | $520.34m |
| Jul 31, 2026 | $585.59m |
| Aug 31, 2026 | $691.2m |
| Sep 30, 2026 | $705.51m |
| Oct 31, 2026 | $544.81m |
TVL at each year end, Dec 31, 2024 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2024 | $1.489b |
| Dec 31, 2025 | $970.98m |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $1,073 | $1,073 | $0 |
| Dec 2024 | $1,717 | $1,717 | $0 |
| Jan 2025 | $746 | $746 | $0 |
| Feb 2025 | $573 | $573 | $0 |
| Mar 2025 | $984 | $984 | $0 |
| Apr 2025 | $5,423 | $5,423 | $0 |
| May 2025 | $9,975 | $9,975 | $0 |
| Jun 2025 | $5,236 | $5,236 | $0 |
| Jul 2025 | $3,756 | $3,756 | $0 |
| Aug 2025 | $2,148 | $2,148 | $0 |
| Sep 2025 | $6,205 | $6,205 | $0 |
| Oct 2025 | $4,011 | $4,011 | $0 |
| Nov 2025 | $106,463 | $10,373 | $0 |
| Dec 2025 | $377,924 | $30,234 | $0 |
| Jan 2026 | $327,593 | $26,208 | $0 |
| Feb 2026 | $257,860 | $20,629 | $0 |
| Mar 2026 | $308,186 | $24,655 | $0 |
| Apr 2026 | $238,610 | $19,089 | $0 |
| May 2026 | $220,913 | $17,674 | $0 |
| Jun 2026 | $190,364 | $15,229 | $0 |
| Jul 2026 | $167,021 | $13,362 | $0 |
| Aug 2026 | $189,382 | $15,149 | $0 |
| Sep 2026 | $1.52m | $121,854 | $0 |
| Oct 2026 (to date) | $754,691 | $60,374 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/lombard-lbtc
Frequently asked questions
What is Lombard LBTC's TVL?
As of Oct 31, 2026, Lombard LBTC has $545.89m in total value locked. TVL has decreased 22.8% over the past 30 days.
What chains does Lombard LBTC operate on?
Lombard LBTC operates on 2 chains: Bitcoin and Ethereum. Bitcoin holds the largest share at 100%.
How much has Lombard LBTC generated in fees and revenue?
Over the past 30 days, Lombard LBTC generated $727,142 in fees. Of that, $58,170 was protocol revenue. Based on the trailing year, the annualized rate is $4.63m in fees and $372,834 in revenue.
How does Lombard LBTC's TVL compare to similar protocols?
Among Restaked BTC protocols tracked by DefiLlama, Lombard LBTC ranks #1 by TVL. The category holds $889.62m across 7 protocols, and Lombard LBTC accounts for 61.4% of that total. Similar protocols include SolvBTC LSTs, GTBTC, Lorenzo stBTC, Chakra, alloBTC, and LISA BTC LST.
How many yield pools does Lombard LBTC have?
DefiLlama tracks 1 Lombard LBTC yield pool with an average APY of 0.9%.