CONTEXT & PERSPECTIVE
Overview
Overview
LBTC is a yield-bearing Bitcoin asset, 1:1 backed by native bitcoin, combining an institutional off-chain yield strategy with yield denominated in Bitcoin and full composability across DeFi. LBTC targets a 2.5% APY generated by an off-chain covered-call options strategy managed by Bitwise Investment Manager, LLC. LBTC is deeply integrated as collateral across DeFi applications on 10+ chains, allowing holders to earn yield and access liquidity. LBTC is secured by a multi-institution Security Consortium, and qualified custodians including Anchorage and Kraken.
Sources and further reading
Category, chain coverage, and overview come from provider records. TVL describes reported deposited value and is not an audit of a protocol's safety.