Use your Bitcoin for staking on Lombard in order to gain yield and a potential airdrop!
Lombard
DeFi
Infrastructure
Lombard
Progress mission: 0 of 2
Rewards
Rewards
TBA
Past rewards
$1,700 $9,600
Details
Minimal cost
~$10
Time required
20 min.
Category
Mainnet
Rating
5/10
Risk
Medium
Lombard raised $16 million in a round led by Polychain Capital. The platform currently has 8,000 users who have collectively deposited $370 million. On average, each user deposited about $48,000 in Bitcoin. This high average deposit suggests that larger investors (known as "whales") are dominating the platform. Smaller investors may find it harder to participate. However, Lombard is built on Babylon, which offers an additional benefit. You can gain exposure to both platforms and increase your chances of receiving two airdrops.
Pros & Cons
Why is it worth it?
Strong Funding
Lombard has raised $16 million from big-name investors like Polychain Capital and OKX Ventures. This means investors see potential in Lombard, giving it the money it needs to grow and develop new products.
Dual Exposure to Lombard and Babylon
Since Lombard operates on Babylon, you can benefit from both platforms. This gives you more opportunities, such as possibly receiving two airdrops. These extra rewards could increase the value you get from participating on the platform.
Risks to consider
High Entry Barriers
The average deposit of $48,000 suggests that Lombard may cater more to big investors, or "whales." If you don’t have a lot of money to invest, you might feel left out or unable to take full advantage of what the platform offers.
Concentration of Risk
A few large investors control most of the money on Lombard. If these "whales" decide to pull out their funds suddenly, it could cause instability or affect the platform’s liquidity. This could create risks for everyone, especially if you rely on a more balanced user base for stability.
Dependence on Babylon's Success
While it’s great that you get exposure to both Lombard and Babylon, this also means Lombard’s success is tied to Babylon’s. If Babylon faces challenges, it could hurt Lombard’s performance or reputation. You should keep this in mind when considering the risks.
How to participate?
Every opportunity has its own rules. Following these closely can significantly increase your chances of qualifying for rewards. Here’s a list of recommendations from our team to help maximize your chances of benefiting from this opportunity.
- Deposit BTC into the Lombard DeFi Vault: This action will likely earn the most rewards. You should aim to deposit at least $500 worth of BTC. If you have more funds, consider depositing a higher amount. This could improve your chances of receiving more rewards in a possible airdrop.
- Use the Swap function: You can also swap assets on Lombard’s platform. This will generate trading volume. However, this activity will probably not be rewarded as much as BTC deposits. It’s a secondary option, but still worth doing if you're looking to increase your engagement.