Lombard Reaches the Level of Babylon Not long ago, Lombard was just one of many LST protocols, contributing only a small piece to Babylon’s broader ecosystem. This dependence limited its growth — as reflected in TVL numbers, which have remained relatively flat in recent months. But to build a truly large and influential company, you can’t rely solely on one project. You need to capture the scale of the entire market. Enter Bitcoin Capital Markets Recognizing this, the @Lombard_Finance team began its transformation into Bitcoin Capital Markets. In simple terms, this means Lombard will no longer be confined to one use case. Instead, it will provide products and infrastructure for: - DeFi strategists - dApps - TradFi institutions - other Web3 & Web2 projects This mirrors Babylon’s own structure, where it delivers shared security as a SaaS solution for teams building decentralized networks. Just as @babylonlabs_io is now recognized as a core infrastructure layer of the BTC ecosystem, Lombard is positioning itself in the same way. Infrastructure, Not Just an LST So, can Lombard now be considered an infrastructure player? Definitely yes. Lombard has moved beyond the LST level into a full-scale infrastructure solution — covering more use cases, serving more projects, and meeting a broader demand than Babylon. Importantly, this doesn’t make them competitors. On the contrary: - Their growth is mutually reinforcing. - The success of one accelerates the success of the other. For us, Lombard is a powerful case study in how a successful dApp can break past its initial scope and evolve into infrastructure. It’s a textbook example of the Fat App Thesis in action: starting as a focused product, then expanding into a more complex — and ultimately more promising — role in the ecosystem.

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