The Lombard logo has changed from dark green to light green, and changes in the visual layer are often an unintentional signal. What do you think Lombard is trying to express?～ The composite strategy built around $LBTC by Lombard is quietly taking shape and can already rival ETH's ReeeStaking. @Lombard_Finance has layered multiple combination structures, currently achieving an annualized return of 30%. 📌Strategy Path: BTC → LBTC → HybridBTC × Leverage Reuse The reason the on-chain financial narrative of ETH holds is that ETH itself can be decomposed into "staking assets + liquidity certificates + re-staking assets + composable collateral." stETH, rsETH, weETH, ptETH form the on-chain polymorphism of ETH assets. The core issue that BTCFi aims to solve is not whether staking is possible, but: is there a structure that pulls BTC into a multi-role, composable, yield-generating, and redistributive system? 📌If we break down the strategy mentioned above, we find that it connects five functional layers: Asset Issuance Layer: LBTC minting brings BTC from the main chain into the on-chain world while locking in Babylon's security verification, providing native yield. Cross-Chain Scheduling Layer: BOB provides a bridging and execution environment for BTC to EVM, allowing BTC to directly participate in strategy execution. Yield Generation Layer: Veda + Concrete provide Pendle-like yield splitting, selling the yield rights of LST as YT to obtain upfront cash flow. Leverage Expansion Layer: Euler achieves leverage recovery through a treasury mechanism, using LBTC as a circulating collateral asset to enhance capital efficiency. Incentive Distribution Layer: Lombard Lux, BOB Karma, Veda Vault Point, etc., collectively form a mapping model for future TGE distribution. In summary: BTC assets are transformed into LBTC through @Lombard_Finance, bringing them into the on-chain cycle; bridged into the HybridBTC Vault on BOB, participating in Pendle-style yield slicing; and then through Euler's treasury leverage, forming a circular amplification. The structural synergy gradually completes the closed loop from holding → participating → yielding → amplifying. When an asset can generate yield, reuse capital, undertake liquidation, participate in governance, and bind finality, it is no longer a mere mapping of Bitcoin, but a redefinition of BTC itself on-chain.