Derive x Veda x Lombard
Derive is partnering with Veda, the liquidity engine powering over $3B in DeFi, and Lombard, the protocol transforming Bitcoin into productive DeFi collateral, to scale a new class of structured yield products: tokenized basis trades.
The Opportunity
Derive’s basis strategies give users full exposure to BTC or ETH while earning yield from perp funding rates, staking rewards, and restaking points. By wrapping these strategies into fungible ERC20s (b-Tokens) we unlock a powerful combination:
- Yield from DeFi-native strategies
- Full base asset exposure
- ERC20 composability across lending, LPing, fixed yield, and more
Where does the yield come from?
The vault borrows USDC against LBTC, buys more BTC, and shorts perps; locking in the basis spread. Users keep full BTC exposure while earning perp funding, staking yield, and Derive rewards. All automated, all onchain.
Liquidity That Flows
Veda’s infrastructure is purpose-built for liquidity coordination at scale. With their capital powering Derive’s bToken vaults, we’re able to execute high-volume strategies efficiently and transparently.
On the asset side, Lombard’s LBTC unlocks a powerful new primitive; enabling BTC holders to tap into restaking points and structured yield for the first time. Together, we’re building a composable, liquid foundation for Bitcoin yield in DeFi.
What’s Next?
We’re starting with bLBTC collateralized by restaked BTC. These tokens will be usable across DeFi venues; acting as productive, yield-bearing collateral on day one. Stay tuned for deployment updates, secondary listings, and partner integrations.