KEY TAKEAWAYS
- Bybit launches the LBTC On-Chain Earn Party, offering a 100,000 BARD token prize pool for participants minting LBTC.
- LBTC, backed 1:1 by Bitcoin, dominates the Bitcoin LST market with a 60% share, offering staking rewards via Babylon Labs.
- Bybit simplifies Bitcoin staking by enabling direct BTC-to-LBTC minting and redemption, enhancing liquidity for users.
Bybit, recognized as the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of the LBTC On-Chain Earn Party. This limited-time event celebrates the introduction of LBTC on Bybit’s On-Chain Earn platform. Participants have the opportunity to share a prize pool of 100,000 BARD tokens by minting new LBTC during the promotional period.
The event commenced on November 14, 2025, at 10:00 a.m. UTC and will run until December 13, 2025, at 11:59 p.m. UTC. Eligible participants who stake BTC to mint LBTC through Bybit On-Chain Earn during this timeframe will be included in hourly snapshots. These snapshots will determine their share of the BARD rewards.
Understanding LBTC and Its Market Impact
LBTC, or Lombard Staked BTC, is a liquid staked Bitcoin (LST) issued by Lombard Finance. It is backed 1:1 by Bitcoin and 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 its category. The yield for LBTC is generated via Babylon Labs’ Bitcoin Staking Protocol, allowing holders to earn staking rewards while preserving the value of their underlying BTC.
Bybit’s integration of LBTC aims to simplify on-chain Bitcoin staking by removing technical barriers. The exchange facilitates direct BTC-to-LBTC minting and LBTC-to-BTC redemption, enabling users to maintain liquidity while engaging in staking activities. This streamlined experience is available to both retail and institutional users through Bybit’s centralized exchange interface.
Participation Details and Reward 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 in the event 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. More details about the event can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Bybit’s launch of the LBTC On-Chain Earn Party introduces a new opportunity for users to engage in Bitcoin staking through liquid staking tokens (LSTs), potentially increasing adoption of LBTC and expanding the use of Bitcoin in decentralized finance.
Recent industry reports indicate that liquid staking of Bitcoin is gaining traction, especially through emerging Layer 2 projects and restaking protocols. This aligns with Bybit’s initiative, which facilitates direct BTC-to-LBTC minting, enhancing liquidity and yield opportunities for Bitcoin holders.
According to investing.com, Bybit has established itself as a major player in the BTC liquid staking token market through its technological innovation and regulatory compliance. This supports the significance of Bybit’s LBTC On-Chain Earn Party, as it leverages Bybit’s platform to enhance user engagement in Bitcoin staking.
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