LBTC Solana programs

Website | Docs

Content

1. Overview
2. One-time setup
3. Audit

Overview

LBTC is liquid Bitcoin; it's yield-bearing, cross-chain, and 1:1 backed by BTC. LBTC enables yield-bearing BTC to move cross-chain without fragmenting liquidity, and is designed to seamlessly integrate Bitcoin into the decentralized finance (DeFi) ecosystem while maintaining the security and integrity of the underlying asset.

Program	Description	Deployment
Bascule	Bascule drawbridge designed to prevent bridge hacks before they hit the chain.	E1p8P6TTe8QvKmSK7QZ3n7HtQY9hE1p9JrCwLrXnPUfn
LBTC	Native minting program for LBTC.	LomP48F7bLbKyMRHHsDVt7wuHaUQvQnVVspjcbfuAek
Token	LBTC token	LBTCgU4b3wsFKsPwBn1rRZDx5DoFutM6RPiEt1TPDsY

BTC deposit flow

Graph below represents BTC to LBTC flow

graph TD
    user_btc_wallet(User BTC wallet) -.-> btc{{BTC}}
    btc -- deposit --> btc_wallet(Lombard controlled BTC address)
    btc_wallet -. notarization request .-> consortium[Notary Consortium]
    consortium -. notarization result .-> sc[LBTC Program]
    sc -- mint --> lbtc{{LBTC}}
    lbtc -.-> user_sol_wallet(User SOL wallet)

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BTC redeem flow

Graph below represents LBTC to BTC flow

graph TD
    user_sol_wallet(User SOL wallet) -.-> lbtc{{LBTC}}
    lbtc -- redeem --> sc[LBTC Program]
    sc -. notarization request .-> consortium[Notary Consortium]
    consortium -. notarization result .-> custody[Custody approvers]
    custody -.-> btc{{BTC}}
    btc --> user_btc_wallet(User BTC wallet)

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One-time setup

Install nodejs. Run node -v to check your installation.

Supports Node.js 18.x and higher.

Also, you will need to install solana and anchor. Instructions are here. Ensure you are using the same versions that are listed in the Anchor.toml file.

1. Clone this repo:

git clone https://github.com/lombard-finance/sol-svm-contracts.git

2. Install dependencies

yarn

3. Compile smart contracts

anchor build

4. Run tests

anchor test

Audit

Find the latest audit reports in docs/audit