Welcome to the October edition of our ecosystem roundup! This is your monthly update on all key happenings across the Lorenzo Protocol Ecosystem.
Let’s explore what’s new!
An Update From Lorenzo Co-Founder & CEO Matt Ye
Follow Matt on X — https://twitter.com/MattYe_MEP
Connect With Matt on LinkedIn — https://www.linkedin.com/in/matt-ye-66b158104/
Lorenzo Protocol Completes Key Product Updates
This past month, our team launched two milestone releases, each focused on upgrading your BTC staking experience.
Staking dApp
We completed a total overhaul of our staking dApp to improve the overall user experience.
Improvements include:
- Redesigned the stBTC user interface with clearer, more visible information
- Upgraded YAT distribution flow intended to increase staker engagement and satisfaction
- Interface optimization intended to achieve rapid integrations with new partners and enable team Lorenzo to begin to promote the circulation and interconnection of assets between different BTCFI platforms.
- Easily view full staking history including transaction amount, transaction status, reward redemption history, and much more.
- Keep track of your rewards portfolio with our new portfolio view, complete with “Official” and “My” tabs.
- Search for relevant yield opportunities with the Protocol Search.
- And much more!
Begin staking — https://linkly.lorenzo-protocol.xyz/staking-blogs
Learn more — https://medium.com/@lorenzoprotocol/lorenzo-protocol-completes-staking-dapp-upgrade-f1f39352de84
Points System
Lorenzo points will now be awarded exclusively to current stBTC holders and users, not initial stakers, to better incentivize active participation and stBTC growth. DeFi multipliers are also coming soon, and all previously earned points will remain unaffected.
Read FAQs —
https://medium.com/@lorenzoprotocol/lorenzo-protocol-elevates-points-system-with-key-upgrades-719082c87a2e
Team Lorenzo takes on Dubai for Binance Blockchain Week (BBW)
To cap off October, our team headed off to Dubai for Binance Blockchain Week, where we maintained a booth as an event sponsor and hosted a private VIP dinner side event for BTCFI leaders!
BBW Day 1 Recap
BBW Day 2 Recap
Lorenzo VIP Dinner Recap
Don’t Miss These Staking Events
There are plenty of BTC yield opportunities available to you today through our staking portal, each with epic prizes set for participants!
Access our staking portal to view all events — https://linkly.lorenzo-protocol.xyz/staking-blogs
Gold Miner: BTCFi on BNBChain & B² Network & Lorenzo & Pell & Avalon Event
To unleash the limitless potential of BTCFi and empower users to mine coveted golden Tokens, we are excited to introduce the Gold Miner: BTCFi on BNB Chain x B² Network x Pell x Lorenzo x Avalon Event.
Rewards:
- Final Raffle: 1 BTCB Grand Prize for ONE lucky winner!
- Weekly Raffle: 1 BNB shared among 10 winners, every week for 11 weeks.
- Deposit BTC to earn compound returns of up to 30% APY, with rewards from Lorenzo, Pell Network, B² Network, and Babylon.
Read our guide to get started: https://medium.com/@lorenzoprotocol/gold-miner-lorenzo-partners-with-b%C2%B2-network-pell-network-and-avalon-for-btcfi-event-on-bnb-chain-5ed3e9c6062a
Bitlayer Mining Gala Season 3
Bitcoin’s Layer 2 network, Bitlayer, has launched the third phase of the “Mining Gala” in collaboration with Lorenzo, Rolldex, JasperVault, Desyn, and Avalon Finance. Themed “Treasure Chest Battle,” the event offers 10 million $BTR tokens as rewards, which will be randomly distributed in treasure chests for users to open and claim. During the event, players can earn free chances to open chests by completing tasks set by the project teams.
Rewards:
- 1,000,000 Lorenzo points (shared by all participants)
Lorenzo x Bitget Web3 Wallet Staking Campaign
Lorenzo Protocol has recently reopened the pre-staking opportunity named stBTC Yield Vault, following the successful outcomes of its previous Babylon staking phases, Cap1 and Cap2. This ongoing initiative allows users to stake BTC and earn rewards in Lorenzo Points , YAT, and potential Babylon rewards. Supported by the Bitget Web3 Wallet, participants can engage seamlessly with Lorenzo’s innovative Bitcoin liquid staking solution.
Rewards:
- 1,000,000 Lorenzo points (shared by all participants)
- 20% multiplier on all Lorenzo base points earned until our $LRZ TGE
Lorenzo x OKX Web3 Wallet Staking Campaign
Lorenzo Protocol has recently reopened the pre-staking opportunity named Babylon Yield Vault, following the successful outcomes of its previous Babylon staking phases, Cap1 and Cap2. This ongoing initiative allows users to stake BTC and earn rewards in Lorenzo Points , YAT and potential Babylon rewards. Supported by the OKX Web3 Wallet, participants can engage seamlessly with Lorenzo’s innovative Bitcoin liquid staking solution.
Rewards:
- 2,000,000 Lorenzo points (shared by all participants)
- 20% multiplier on all Lorenzo base points earned until our $LRZ TGE
New BTCFI Alliances
At the end of this past month, after significant work was done to improve our internal partnership flows, our team once again ramped up partnership announcements with plans to continue a more steady flow of new collaborations and integrations moving forward.
We’re proud to welcome the following projects to the Lorenzo ecosystem:
B² Network
Lorenzo Protocol has partnered with B² Network to allow users to mint and restake stBTC for additional yields. Users can now stake BTC_B2 on the B2 platform to mint stBTC, which can then be cross-chained to BNB and restaked on the Pell platform through the Lorenzo interface. This collaboration enhances stBTC utility, increases user yields, and helps grow the cross-chain community.
Learn more — https://medium.com/@lorenzoprotocol/lorenzo-partners-with-b%C2%B2-network-for-cross-chain-yield-optimization-f28f26d77381
Corn
Lorenzo Protocol has partnered with Corn, a network utilizing Bitcoin as gas for DeFi applications, to integrate its stBTC token. Over $40 million in TVL has been deposited into the stBTC silo on Corn’s platform, offering users rewards in Corn kernels, Lorenzo points, and Babylon points. Users with a code (acquired through the Lorenzo Discord) can now deposit stBTC to earn these rewards.
Learn more — https://medium.com/@lorenzoprotocol/lorenzo-protocol-partners-with-corn-grows-stbtc-silo-to-40m-tvl-902538bda2cf
Cygnus Finance
Lorenzo Protocol has partnered with Cygnus Finance to integrate stBTC into Cygnus’s Omnichain Liquidity Validation System (LVS). This partnership will enable Bitcoin stakers to earn additional rewards by restaking stBTC, introducing new yield-generating opportunities within the BTCFI ecosystem.
Learn more — https://medium.com/@lorenzoprotocol/lorenzo-protocol-partners-with-cygnus-finance-to-expand-stbtc-staking-opportunities-9896b7d50d2c
The Lorenzo Token Economy
Our token economy continues to expand, with our project TVL recently surpassing the milestone $100 million mark!
Here’s what’s new across our economy.
stBTC
This past month, our team has continued our push to bring omni-chain dominance to stBTC, our native liquid principal token. We’re happy to report that the token is now integrated with Corn (over $40 million in TVL deposited already) and Eigenlayer, each with yield opportunities available for stBTC holders.
stBTC is also now viewable on CoinGecko, and CoinMarketCap is on the way!
enzoBTC
We’re excited to introduce enzoBTC as our new pillar ecosystem token!
enzoBTC:
- Is our new wrapped BTC standard
- Serves as cash across our ecosystem
- Grants access to all Lorenzo Protocol BTC financial instruments
Now, you’re probably wondering: How does enzoBTC relate to stBTC?
Here’s how it works:
- Users deposit BTC/BTC-equivalent assets to Lorenzo in exchange for enzoBTC
- enzoBTC is then deposited into Lorenzo yield vaults
- Users receive stBTC in exchange for their enzoBTC. stBTC serves as their receipt of deposit, which is freely tradeable/exchangeable
- At the end of a staking period, stBTC is used to restore/redeem enzoBTC liquidity, giving the staker their initial deposit back.
The full rollout of enzoBTC is a work in progress. Please stay tuned to official Lorenzo Protocol channels for more updates.
Must-Read BTCFI Content
- Why Bitcoin Is Essential To The Future Of Global Energy
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- Satoshi Stories: How Did Bitcoin Mining Evolve?
- Bitcoin Exempt From Capital Gains? Bitcoin Becomes ‘Money’ In U.S.
- Who Is Satoshi Nakamoto?
If you enjoyed this blog, share it with a friend and invite them to the Lorenzo community!
To stay informed on all Lorenzo staking updates and opportunities, please visit and follow the regular updates on X (Twitter), Medium, Telegram, and Discord.
