BTC Yield in Ledger Wallet with Lombard via Figment

Things To Know:

• Lombard via Figment lets you earn Bitcoin rewards*, without leaving the security of Ledger Wallet
• With Lombard via Figment’s BTC Yield service, users earn LBTC rewards, which can be used to trade and invest more, opening up the world of DeFi to the Bitcoin Ecosystem.
• Ledger users can now access the BTC yield service via the Discover section of Ledger Wallet™ with the Lombard via Figment dApp.

Lombard joins Ledger Wallet™ via Figment as another Earn provider, offering users more options for BTC yield services. This gives Ledger users a highly accessible and user-friendly way to enter the world of Bitcoin rewards—with ease of use and security. Here’s what you need to know:

BTC Rewards with Lombard via Figment in Ledger Wallet™

While there is no native staking mechanism on the Bitcoin network, BTC Yield mechanisms leverage the DeFi ecosystem to let users deposit Bitcoin to access Bitcoin rewards. 

Specifically, Lombard provides this service using Babylon, a decentralized asset management service that allows users to earn* yield by deploying Bitcoin on Babylon-secured blockchains. In fact, Lombard is the biggest liquidity provider for Babylon, representing over 40% of its TVL.

With Lombard’s BTC Yield experience facilitated by Figment, alongside Ledger’s user experience and security model, engaging with Bitcoin yield services has never been so simple and secure.

What Is Lombard? 

Lombard is a protocol focusing on becoming the driving force of the Bitcoin Ecosystem. Inspired by the onchain revolution—including DeFi, stablecoins and tokenization—its mission is to make Bitcoin more accessible for all, from everyday users to the crucial developers building apps. To do so, it builds powerful infrastructure and supports participants in the Bitcoin ecosystem, unlocking new ways to use the network. This, it believes will increase Bitcoin’s cultural significance and value to the wider ecosystem, thus supporting its growth now and further into the future. .

As part of this push, in 2024 it launched its Bitcoin-based liquid staking token LBTC, allowing users to earn Bitcoin Yield* and thus opening up the DeFi ecosystem to Bitcoin users.

To explain, LBTC works like any other DeFi token, giving users the power to trade or access DeFi services in the EVM ecosystem, something impossible to do simply with Bitcoin. As a result, Lombard has seen huge success, with LBTC becoming Bitcoin’s leading liquid staking token. 

For more information on how Lombard’s BTC Yield service works in Figment, check out the documentation here.

Ledger Wallet™: Do More with Your Bitcoin

Now Lombard has joined Ledger Wallet™ via Figment, a leading yield provider. As such, you can access Yield mechanisms to get Bitcoin rewards with ease. Simply access the Bitcoin Yield service via the established yield provider Figment, and benefit from the peace of mind that Ledger’s Security model offers. Since you physically confirm actions using your Ledger Signer, and benefit from a secure gateway to accessing Lombard via Figment in Ledger Wallet, you can get started directly and with confidence.

Want to get involved with BTC Yield and earn rewards* using the Bitcoin you own? Make sure to dive into the details on the benefits and risks of BTC yield before getting started. Head over to the Help Center to learn exactly how to set up your BTC Yield service with Lombard via Figment.

Whether you’re new to the worlds of Bitcoin and DeFi, or you’re a crypto veteran, Ledger is committed to providing innovative solutions and expanding opportunities for all its users. 

* Rewards are not guaranteed.