LBTC Max APY Yield Strategy

LBTC is Lombard’s yield-bearing Bitcoin token, backed 1:1 by native BTC staked through the Babylon protocol. It is the market-leading yield-bearing Bitcoin asset, usable as collateral and liquidity across DeFi on multiple blockchains.

How the strategy works

This is a max-APY yield loop: LBTC is supplied as collateral and WBTC is borrowed against it on Morpho, then recycled back into LBTC to multiply the underlying BTC Staking yield. Because the two assets are price-correlated, the position targets amplified yield rather than directional price exposure.

Strategy details

Collateral asset

Lombard Staked Bitcoin (LBTC)

Borrowed asset

WBTC

Issuer

Lombard

Yield source

BTC Staking

Underlying

BTC

Category

BTC

Network

Ethereum

Protocol

Morpho

Live metrics

Collateral APY

0.32%

Net borrow APY

0.45%

Max leverage

17.4x

Default leverage

15.4x → -1.55% APY

Leverage ladder

1x 0.32% · 2x 0.19% · 3x 0.06% · 4x -0.07% · 5x -0.20% · 6x -0.33% · 7x -0.46% · 8x -0.59% · 9x -0.72% · 10x -0.85% · 11x -0.98% · 12x -1.11% · 13x -1.24% · 14x -1.37% · 15x -1.50% · 16x -1.63% · 17x -1.76% · 17.4x(max) -1.81%

Oracle type

market

Exit slippage

$100k 0.11% · $500k 0.26% · $1M 0.42% · $5M 1.74% · $10M 4.96%

as-of 2026-08-20T09:34:34.372Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1

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