Question 1

What is BARD, and how does it differ from LBTC?

Accepted Answer

BARD is the native token of the Lombard protocol and runs on Ethereum; it is not the LBTC users receive after depositing BTC. LBTC is a token minted after native BTC is deposited into Lombard, backed by BTC and redeemable for BTC through the applicable process, whereas BARD’s supply and distribution rules are independent of LBTC minting and redemption. Therefore, holding BARD does not mean holding BTC or LBTC, and it does not confer a right to redeem BTC at 1:1. Lombard’s documentation positions BARD as a protocol token and states that its utility will evolve with the product roadmap; its uses should be understood by distinguishing functions that are already live from arrangements that governance or product development may introduce in the future.

Question 2

What are BARD’s total supply, initial circulating supply, and allocation structure?

Accepted Answer

BARD has a fixed total supply of 1 billion tokens. At the token generation event (TGE), 225 million tokens, or 22.5% of the total supply, entered circulation; the remaining tokens do not automatically enter the market all at once, but are released after the TGE under the established rules for each allocation pool. The total allocation is 35% to the ecosystem (350 million tokens), 25% to core contributors (250 million), 20% to the foundation (200 million), and 20% to early investors (200 million). A fixed total supply only means that no additional tokens are issued through an inflation mechanism; “circulating supply” is also affected by unlocked tokens that are not actually circulating, tokens that remain locked, and distribution arrangements. A fixed total supply should therefore not be treated directly as the currently tradable supply.

Question 3

How do BARD unlocks work, and why should all non-circulating tokens not be treated as one supply batch?

Accepted Answer

Different BARD allocation pools have different unlock schedules, so they cannot all be summarized as “released over 48 months.” The 11% ecosystem incentives and 1.5% community sale allocations unlock at TGE; of the 18.5% ecosystem development allocation, 4.25% unlocks at TGE and the remaining 14.25% releases linearly over 24 months. Of the foundation’s 20%, 4.25% unlocks at TGE and 15.75% releases linearly over three years. The 20% for early investors and 25% for core contributors are both locked for 48 months and begin linear unlocking in the twelfth month after TGE; the core contributor allocation also uses service-related vesting arrangements. The 4% Season 1 airdrop within the ecosystem is split into 1.5% at TGE, 1.5% six months later, and 1% that is currently unscheduled. These dates determine when potentially additional usable tokens from different sources may appear.

Question 4

How did BARD’s previous staking mechanism work?

Accepted Answer

BARD could previously be staked through Mellow vaults to provide an additional security layer for Lombard cross-chain asset transfers; that program has now been retired. After depositing BARD into a vault, users received the share token stBARD. Rewards accrued in BARD and compounded automatically, appearing as an increase in the stBARD-to-BARD conversion rate rather than as a separate reward not reflected in the shares. At the time, this mechanism worked with Symbiotic to monitor source-chain burns and destination-chain mints in cross-chain transfers, and with Chainlink CCIP to support cross-chain security. Lombard subsequently moved to an Ethereum-anchored hub-and-spoke bridge and adopted CCIP v2; the historical staking program should therefore not be treated as a current BARD function that new users can join.

Question 5

Can BARD still be staked or earn staking rewards now?

Accepted Answer

New BARD staking is no longer available: Lombard closed BARD staking on September 17, 2026, and stopped paying rewards after October 1, 2026. Users who still have BARD staked can initiate unstaking through the designated Mellow interface, and the exit waiting period remains 21 days. The status differs before and after the waiting period ends: initiating unstaking does not mean BARD is returned immediately; redemption can only be completed after the 21-day exit period. Rewards earned before October 1, 2026 are already reflected in the stBARD conversion rate, so the official guidance states that there is no separate historical reward balance to claim.

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