Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce the launch of the LBTC On-Chain Earn Party. This limited-time event celebrates the debut of LBTC on its On-Chain Earn platform. The campaign offers participants the opportunity to share a prize pool of 100,000 BARD tokens by minting new LBTC during the promotional period.
Event Details and Duration
The event runs from November 14, 2025, at 10:00 a.m. UTC through December 13, 2025, at 11:59 p.m. UTC. Eligible participants who stake BTC to mint LBTC through Bybit On-Chain Earn during this time will be included in hourly snapshots used to determine their share of the BARD rewards.
Understanding LBTC
LBTC, or Lombard Staked BTC, is a liquid staked Bitcoin (LST) issued by Lombard Finance and backed 1:1 by Bitcoin. Supported by a decentralized alliance of 14 major digital-asset institutions, LBTC holds a 60 percent share of the Bitcoin LST market, making it the largest in the category. Its yield is generated via Babylon Labs’ Bitcoin Staking Protocol, which enables holders to earn staking rewards while preserving the value of their underlying BTC.
Bybit's Role in Simplifying Staking
Bybit’s integration of LBTC aims to simplify on-chain Bitcoin staking by removing technical barriers. The exchange provides users with direct BTC-to-LBTC minting and LBTC-to-BTC redemption, allowing them to maintain liquidity while participating in staking activities. Both retail and institutional users can benefit from this streamlined experience through Bybit’s centralized exchange interface.
Reward Calculation and Distribution
During the campaign, only newly minted LBTC amounts—calculated as total minted minus total redeemed—will be eligible for reward snapshots. The daily balance is determined by the lowest hourly snapshot within each 24-hour period. All BARD token rewards will be distributed to participants’ Funding Accounts three days after the event concludes.
Participation Requirements and Restrictions
Participation requires completion of Bybit’s Level 1 Identity Verification. The event is subject to the platform’s Terms of Service, and certain jurisdictions may be restricted from participation in accordance with regulatory guidelines.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at bybit.com.