Lorenzo Protocol Ecosystem Roundup — November 2024
Welcome to the November edition of our ecosystem roundup! This is your quick, monthly update on all key happenings across the Lorenzo…
Welcome to the November edition of our ecosystem roundup! This is your quick, monthly update on all key happenings across the Lorenzo Protocol Ecosystem.
Let’s explore what’s new!
Lorenzo Protocol Makes History With Move Ecosystem Integrations
In November, our team celebrated the completion of a historic BTCFi ecosystem milestone upon successfully executing several technical integrations on Sui as a part of a larger strategic entry into the Move ecosystem, secured by leading custody providers Cobo, Ceffu, and ChainUp.
Our Sui integration, highlighted by stBTC integrations with NAVI and Cetus, notably made Lorenzo Protocol the first Bitcoin liquidity layer with completed MoveVM technical integrations. Furthermore, they made stBTC the first yield-bearing BTC token to be fully technically integrated and launched on Sui.
View stBTC on Cetus: https://linkly.lorenzo-protocol.xyz/stBTC-Cetus
View stBTC on NAVI — https://linkly.lorenzo-protocol.xyz/stBTC-NAVI
TVL Passes $300 Million
Coinciding with a substantial Bitcoin pump that ultimately saw the token’s value surpass $100,000 for the first time, our project TVL crossed $300 million, peaking at $340 million in November.
With Babylon Cap 3 approaching and significant work continuing to go into preparation, in addition to the overall positive outlook on Bitcoin’s price, we confidently anticipate strong TVL growth heading into 2025.
View Lorenzo TVL — https://defillama.com/protocol/lorenzo-protocol
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 Campaign tab to view all events — https://linkly.lorenzo-protocol.xyz/staking-blogs
Bitcoin is on the Move: BTCFi on Sui with Lorenzo, NAVI & Cetus
Lorenzo, partnering with NAVI and Cetus, is kicking off the first-ever event in the Sui ecosystem to bring Bitcoin liquidity and utility to the forefront. Users can earn their share of $10K worth of stBTC rewards and Lorenzo Points by participating in various tasks designed to promote stBTC adoption. Join now to explore stBTC’s potential and enjoy exciting rewards!
Rewards:
- Eligible participants who complete Task 1 will receive 1500 Lorenzo points.
- Eligible participants who complete Task 2 will receive 500 Lorenzo points.
- Eligible participants who complete Task 3 will receive 1000 Lorenzo points.
- Please note, each wallet address can only earn the reward once per task.
- stBTC Rewards: a total of $10K worth of stBTC will be evenly distributed among all addresses that successfully complete all the tasks.
Read our guide to begin:
#BTCFi Fair-drop GO TO MOON!
The #BTCFi Fair-drop GO TO MOON campaign, launched by Lorenzo, Avalon, Pell Network, PumpBTC, and StakeStone, aims to promote BTCFi and boost engagement on the BNB Chain. This collaborative effort brings exciting rewards and opportunities for users to explore and participate in the BTCFi ecosystem.
Rewards:
Each participating project offers unique and generous rewards for completing simple tasks. From social engagements to on-chain activities, there are plenty of opportunities to earn. As part of this collaborative event, Lorenzo is rewarding users with $50,000 worth of Lorenzo Points for completing tasks.
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:
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
New BTCFi Alliances
Our ecosystem of impactful collaborations and integrations continued to grow in November.
We’re proud to welcome the following projects to the Lorenzo ecosystem:
Chainlink
Lorenzo Protocol has completed a comprehensive integration of the Chainlink Platform, which will further enable our team to rapidly scale and innovate within the BTCFi ecosystem.
Components of our integration include:
- Chainlink price feeds
- Chainlink proof of reserves
- Chainlink CCIP
Avalon Labs
Lorenzo has partnered with Avalon Labs to launch a fixed-rate lending product for USDa, Avalon’s new stablecoin backed by BTC and BTC-based LRTs. Through this collaboration, users will be able to borrow USDa at a competitive 7% fixed rate, benefiting from predictable, low-cost borrowing within Avalon’s robust BTCFi ecosystem.
Wormhole
Lorenzo Protocol has completed an integration with Wormhole to bring access to multichain liquidity to its assets, starting with stBTC and enzoBTC. Together, these assets now account for 50% of the available BTC assets for cross-chain bridging on Wormhole. Lorenzo users can now transfer the assets to Sui and BNB Chain, with 1,000 enzoBTC, 500 stBTC, and an initial milestone of $1 million in stBTC liquidity achieved on Sui.
Swell Network
Lorenzo Protocol has partnered with Swell Network to integrate stBTC into Swell’s new BTC-denominated vault, earnBTC. This collaboration allows stBTC holders to deposit their assets and earn automated, risk-adjusted yields, in addition to receiving rewards through Swell’s ecosystem campaigns. earnBTC supports a range of BTC tokens and is designed to provide DeFi investors with high-yield opportunities through multi-layered incentives, including SWELL and NUCLEUS tokens, as well as ecosystem points.
Team Lorenzo Attends Devcon 2024 In Bangkok
Towards the end of the month, members of our team visited Bangkok to attend Devcon 2024 and host a private VIP dinner for BTCFi leaders. Moving forward, when it comes to activating at key crypto conferences, our team will look to engage in similar ways to this. From our experience across 2024, we now believe that joining and hosting small events where focused conversations and relationship-building can more easily occur is the best ROI path for in-person events.
Must-View BTCFI Content
Read our previous ecosystem roundup —
- Tad Tobar, COO of Lorenzo Protocol, shares insights into how Lorenzo Protocol is revolutionizing Bitcoin DeFi
- Bitcoin & The Move Ecosystem: An Overview Of Key Players And Implications
- Coinbase celebrates $100k Bitcoin with a nostalgic video featuring the iconic Isaac Miller
- Here’s What the Top 5 Asset Managers In The World Think About Bitcoin
- Michael Saylor gives a Bitcoin masterclass on Fox Business
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.
