On September 17, Binance announced its 41st project on the HODLer Airdrops portal – Lombard (BARD), before listing the project.
The biggest crypto exchange in the world created its HODLer Airdrops portal to retroactively reward its users, based on historical snapshots of their BNB holdings.
Users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products between September 9 at 00:00 (UTC) and September 12 at 23:59 (UTC) are eligible for the BARD airdrop.
What is Lombard (BARD)?
Lombard is a platform that promises to bring Bitcoin to life, onchain for:
- People
- Protocols
- Platforms
The project has multiple important names in the crypto ecosystem and beyond as partners, including Binance, Bybit, OKX, Aave, Chainlink, Winetrmute, Franklin Templeton, and others.
Lombard Products/Apps
The project has multiple products and applications, including the following:
- LBTC – A liquid staked Bitcoin token created to unlock yield and expand Bitcoin’s role in DeFi; users can stake BTC for LBTC to earn a native yield while staying liquid for DeFi use.
- Lombard vaults – Allowing users to access curated, actively-managed vaults that are operated by top risk managers.
- DeFi Marketplace – Allowing users to explore lending, borrowing, and trading of BTC in DeFi, across 12 blockchains.
- Lombard SDK – Allowing users to embed native BTC deposits and yield into any chain, protocol, or wallet.
- BTC staking – Allowing users to stake BTC directly to Lombard’s 4 Finality Providers on Babylon, operated with Galaxy, Klin, P2P, and Figment.
- Lombard Ledger – A leading BTC bridge, secured by 14 trusted crypto institutions.
These products and applications are already available, and others are coming in the future:
- Cross-chain Bitcoin – A new BTC promitive that will enable developers to onboard BTC in wrapped and staked forms.
- Tokenized and institutional products – A basis trade vault and tokenized options vault built with the leading institutions.
Project Security
Lombard is secured by a consortium including leading crypto institutions that work together to drive adoption of the project’s suite of onchain products.
Important names that collectively secure Lombard include Figment, Galaxy, Klin, Nansesn, OKX, Antpool, Wintermute, and others.
Lombard’s Thesis: “Bitcoin is the Most Important Asset of Our Generation”
On its website, the team behind the project says that Bitcoin represents the most important asset of our generation due to the following reasons:
- It reimagined a global finance built upon mathematical guarantees, instead of trust in people.
- It inspired a trillion-dollar ecosystem of blockchains and apps.
- It created an onchain revolution.
According to the team behind the project, over $2 trillion in Bitcoin is currently sitting in cold wallets, and the ecosystem sees limited innovation. Lombard promises to change this and boost the ecosystem’s potential.
Lombard’s New Milestones
Powering the onchain Bitcoin economy, Lombard has achieved multiple important milestones, according to the official website of the project:
- It has the fastest yield-bearing token to reach $1 billion in TVL in 92 days.
- Its $2 billion in net liquidity is onboarded to 12 blockchains.
- It has $600 million in TVL across its vault products.
- The project has 260,000 LBTC holders globally.
- 82% of LBTC is active in DeFi protocols.
- $6 trillion value is unlocked when developers innovate with Bitcoin.
What is BARD?
BARD is the native token of the Lombard protocol, and the team defines it as “an economic coordination mechanism” that:
- Powers growth
- Governs the protocol
- Enables access to Lombard’s products and infrastructure
- Is designed to accelerate the project and the entire digital economy
The total token supply will be 1 billion BARD tokens, and the circulating supply will be 225 million BARD tokens.
The BARD token distribution is as follows:
- 20% goes to the Liquid Bitcoin Foundation.
- 35% goes to the community and ecosystem.
- 25% goes to core contributors.
- 20% goes to early investors.
BARD is set to launch on multiple crypto exchanges, including Binance, tomorrow, September 18.
Binance’s Listing Details for BARD
In an official announcement, Binance revealed that it will list BARD on September 18, at 11:00 (UTC), and will open trading for the following pairs:
- BARD/USDT
- BARD/USDC
- BARD/BNB
- BARD/TRY
- BARD/FDUSD
The token will be listed on the exchange with the Seed Tag applied, signaling potential high volatilty. First, BARD will launch on Binance Alpha, the platform created by the exchange to showcase early-stage projects with growth potential in Web3.
Users can start depositing BARD on September 17 at 12:00 (UTC).
