Lombard Finance (N/A)

What is Lombard Finance? 🤔

Lombard Finance is one of the largest Bitcoin Liquid Restaking protocols in the Babylon Labs ecosystem with over $1B in TVL. 

It aims to deliver a more simple, and secure Bitcoin staking experience for users, allowing them to enjoy the native yield from Bitcoin staking on Babylonchain while having complete ownership of their funds in the form of liquid staking LBTC token. Backed by the real Bitcoin in a 1:1 ratio, it can be seamlessly used as collateral, traded, or deposited into LP similarly to the original $BTC token.

Lombardfi crypto protocol pays extra attention to the security of its LRT assets, implementing a unique Security Consortium mechanism - a decentralized state machine that manages all major asset transactions within the platform. It is built on a trusted network of nodes that reach consensus and validate transactions following the Raft consensus algorithm. 

To join the trusted network of validators, nodes have to complete multiple requirements such as getting approval from existing Consortium members, rolling out and testing needed infrastructure, and exchanging their public keys with another member. This way, the platform ensures all the node runners are motivated to validate transactions correctly and eliminate errors within its consensus mechanism. 

🪙 Lombard Finance token: As of November 2024, there haven’t been any public announcements made by the team regarding the upcoming launch of its native token yet. However, considering the frequent mentions of the Lombard points as “rewards” for Bitcoin staking and previous experience with other protocols such as Solv, as well as strategic investments from Binance Labs, it is very likely Lombard Finance will release its own governance token sooner or later. 

Taking into account this information, our team analyzed the Lombard Finance crypto project and prepared a list of pros and cons of the platform so you could more confidently decide whether it is worth to join the Lombard Finance airdrop or not: 

✅ Lombard Finance pros:

• Good concept and design of the product;
• Presence of security audits from top-tier companies like Halborn or Immunefi;
• Incubated by Polychain Capital;
• Very High PR performance;
• High SEO score;
• Above the average Marketing Infrastructure, SMM, Growth Marketing, and Influencer Marketing scores;
• Robust network of top-tier funds like Polychain, Binance Labs, OKX Ventures, and others;
• Diverse ecosystem of partners;
• Experienced core team with work record at Polychain, Meta, TikTok, and Ripple.

❌ Lombard Finance cons:

• No info regarding the token;
• Small number of users. Yet, this may be treated even as an advantage when talking about the airdrop rewards.