Pawnshop publicly launched LBTC, a “cross-chain, yield-generating Bitcoin token designed for use in DeFi.” According to the team, “The launch follows a successful closed beta that attracted over $165 million in deposits from over 600 institutional distributors. LBTC allows users to stake Bitcoin through Babylon and use it in a variety of DeFi protocols. Initial integrations include major DeFi protocols such as Symbiotic, Morpho, Pendle, Corn, Gauntlet, Derive, EtherFi, and Gearbox.”