The Lombard logo has changed from dark green to light green, and the change in the visual layer is often an inadvertent signal, guess what Lombard wants to express~ Lombard's compound strategy built around $LBTC has quietly taken shape, which is already comparable to ETH's ReeeStaking @Lombard_Finance Superimposed multiple combination structures, the current annualized rate can reach 30% 📌 Strategy Path: BTC → LBTC → HybridBTC × Leverage Multiplexing ETH's on-chain financial narrative holds true because ETH itself can be dismantled into "staked assets + liquidity certificates + re-staked assets + composable collateral". stETH, rsETH, weETH, and ptETH constitute the on-chain polymorphism of ETH assets The core problem that BTCFi aims to solve is not whether it can be staked, but whether there is a structure to pull BTC into a multi-role, composable, yield-bearing, and redistributable system 📌 If you break down the above strategy, you will find that it connects five functional layers: Asset Issuance Layer: LBTC minting, bringing BTC from the main chain to the on-chain world, while locking Babylon security verification with native income Cross-Chain Scheduling Layer: BOB provides a BTC-to-EVM bridging and execution environment, allowing BTC to directly participate in strategy execution Yield Generation Layer: Veda + Concrete offers a pendle-based yield split, selling the yield rights of LST for YT to obtain upfront cash flow Leverage Expansion Layer: Leverage recovery is achieved on Euler through a treasury mechanism, using LBTC as a revolving collateral asset to improve capital efficiency Incentive distribution layer: Lombard Lux, BOB Karma, Veda Vault Point, etc. together form a mapping model for future TGE distributions Summary: BTC assets are converted into LBTC through @Lombard_Finance and brought into the on-chain cycle; Bridge into the HybridBTC Vault on BOB and participate in Pendle-style yield cutting. Then, through Euler's vault leverage, a cyclical amplification is formed The structural synergy has gradually completed the closed loop from holding → participation to → income → amplification When an asset can generate income, reuse capital, undertake liquidation, participate in governance, and bind finality, then it is no longer a reflection of Bitcoin, but a redefinition of BTC itself on the chain