Bitcoin infrastructure developer Lombard Finance has launched a Software Development Kit (SDK) that allows wallets, exchanges and other platforms to provide one-click Bitcoin (BTC) staking.
The purpose of this release is to further introduce BTC into the Decentralized Financial (DEFI) economy by leveraging an estimated $154 billion in Bitcoin, which is estimated to be sitting idle in central exchange.
The new Toolkit allows users to stake BTC and mint a liquid staking token called LBTC. This allows the protocol to automatically deposit liquid staking tokens called LBTC, called LBTC, Mint LBTC, Mint LBTC and Mint Tokens on Mint Mint Token and Lombard’s Defi Vault.
“Once considered a valuable store, Bitcoin is now integrated into Defi and unlocks new revenue opportunities for BTC holders,” said Jacob Phillips, co-founder of Lombard Finance.
Major cryptocurrency exchanges Binance and Bybit already have integrated SDKs and are further supported. With these platforms, integration offers new revenue streams and ways to attract users through the delivery of new Defi, says Lombard.
Bitcoin via Lombard’s system began seven months ago and grew into a $4 billion market. Powered by smart contract provider VEDA, Lombard’s Defi Vault currently holds more than $200 million, totally locked.
The protocol was expanded last month with the launch of Liquid Staking Bitcoin Token LBTC on the SUI blockchain.