LBTC–USDC market
Borrow native USDC against Lombard wrapped Bitcoin at a fixed 7.9% APR, up to 60% LTV — or supply USDC and earn yield paid by borrowers. Non-custodial and overcollateralized, on HyperEVM.
App goes live October 2026. Figures shown are illustrative until rates publish on-chain.
Market mechanics
Price oracle
Collateral is priced by Pyth and Chainlink feeds with a time-weighted (TWAP) fallback. Redundant sources guard against a single feed failing or being manipulated before liquidations execute.
Liquidation engine
If a position's loan-to-value reaches the 75% liquidation threshold, part of its LBTC collateral is sold to repay debt and restore a safe ratio. Borrowers can add collateral or repay at any time to stay clear of the threshold.
Interest-rate model
Borrowers pay a fixed 7.9% APR — there are no algorithmic rate spikes when utilization or volatility rises. Supplier yield is variable, driven by utilization, with the protocol retaining 10% of interest and the remainder accruing to suppliers.
Risk parameters
| Collateral asset | LBTC — Lombard wrapped Bitcoin |
|---|---|
| Borrow asset | Native USDC on HyperEVM |
| Max LTV | 60% |
| Liquidation threshold | 75% |
| Borrow rate | 7.9% APR — fixed |
| Oracle | Pyth + Chainlink, TWAP fallback |
| Protocol fee | 10% of interest paid |
| Custody | Non-custodial — contracts hold collateral |
Overcollateralized lending carries liquidation and smart-contract risk. Borrowers are responsible for monitoring their loan-to-value. Supplier yield is variable and not guaranteed.
Audited by Sherlock
The LBTC–USDC contracts are reviewed in a Sherlock audit contest, backed by an Immunefi bug bounty. The full report links here at launch. Contracts are non-custodial — they hold collateral, not us.