{"id":"lorenzo-protocol","title":"Lorenzo Protocol","content":"**Lorenzo Protocol** is an institutional-grade asset management platform specializing in [Bitcoin](https://iq.wiki/wiki/bitcoin) Finance (BTCFi), providing a mechanism for [Bitcoin](https://iq.wiki/wiki/bitcoin) holders to earn yields without giving up custody of their assets. The platform, launched in 2022, offers various financial products using liquid staking derivatives and On-Chain Traded Funds (OTFs) to tokenize complex yield strategies. It was founded by a team of industry professionals including [Matt Ye](https://iq.wiki/wiki/matt-ye), Fan Sang, and Toby Yu. Lorenzo Protocol issues a native governance token called BANK, which facilitates participation in the protocol's ecosystem and decision-making processes. [\\[1\\]](#cite-id-K8TcWPpenBbxRcQu) [\\[2\\]](#cite-id-WbdIlkRYxXALDKo0)​\n\n## History\n\nLorenzo Protocol was founded in 2022 by [Matt Ye](https://iq.wiki/wiki/matt-ye), Fan Sang, and Toby Yu. [Matt Ye](https://iq.wiki/wiki/matt-ye), serving as the CEO, has a background in quantitative trading, having worked at firms like Akuna Capital. [\\[1\\]](#cite-id-K8TcWPpenBbxRcQu) [\\[3\\]](#cite-id-SVTZnfoiwIM8yy3F) [\\[4\\]](#cite-id-nxxGRJGEvMzc901D) Despite conflicting reports about the company's headquarters, it is stated to operate between Atlanta, USA, and Indonesia. Tracxn reports 175 employees as of January 2026, whereas PitchBook cites a smaller team of 29 members. [\\[5\\]](#cite-id-1QZpv2EXD2cYDaVu) [\\[4\\]](#cite-id-nxxGRJGEvMzc901D)​\n\n## Technology & Architecture\n\nThe core of Lorenzo Protocol's offering is the Financial Abstraction Layer (FAL), which enables the creation and management of On-Chain Traded Funds (OTFs). These OTFs are financial products that package together complex yield strategies into a single, tradable token, accessible to both retail and institutional investors. [\\[2\\]](#cite-id-WbdIlkRYxXALDKo0)​\n\nLorenzo Protocol specializes in services focused on [Bitcoin](https://iq.wiki/wiki/bitcoin) Finance (BTCFi). It provides a liquid staking derivative, stBTC, which represents [Bitcoin](https://iq.wiki/wiki/bitcoin) staked through the Babylon protocol. This derivative is redeemable 1:1 with native BTC and accrues additional rewards distributed via Yield Accruing Tokens (YATs). Additionally, enzoBTC is another product offered by Lorenzo, functioning as a wrapped [Bitcoin](https://iq.wiki/wiki/bitcoin) token that is fully collateralized and compatible with over 21 blockchain networks. [\\[6\\]](#cite-id-5XcFVfrJgUGZbHhG) [\\[7\\]](#cite-id-aNCbbj4umC7lP4wJ)​\n\n## Products & Use Cases\n\nThe platform offers a range of products aimed at optimizing yield for [Bitcoin](https://iq.wiki/wiki/bitcoin) holders. Key products include:\n\n* **stBTC:** A liquid staking derivative that allows BTC holders to earn yield without relinquishing control of their holdings. [\\[2\\]](#cite-id-WbdIlkRYxXALDKo0)\n* **enzoBTC:** Provides integration for [Bitcoin](https://iq.wiki/wiki/bitcoin) across decentralized finance (DeFi) applications by wrapping BTC, supported across various blockchain networks. [\\[7\\]](#cite-id-aNCbbj4umC7lP4wJ)\n* **USD1+ OTF:** A tokenized product akin to a money market that aggregates returns from multiple sources including real-world assets and DeFi. [\\[6\\]](#cite-id-5XcFVfrJgUGZbHhG)\n\n## Partnerships & Adoption\n\nLorenzo Protocol serves as the official asset management partner of [World](https://iq.wiki/wiki/world) Liberty Financial (WLFI), using WLFI's [USD1](https://iq.wiki/wiki/usd1) stablecoin to power its [USD1](https://iq.wiki/wiki/usd1)+ product. In July 2025, WLFI acquired approximately 1 million incentive program launched jointly with [BNB Chain](https://iq.wiki/wiki/binance-smart-chain), [PancakeSwap](https://iq.wiki/wiki/pancakeswap), and [BUILDon](https://iq.wiki/wiki/buildon); Lorenzo was recognized as the winning project in the program's 'Existing BSC Projects' category.\n\n## Funding & Investors\n\nLorenzo Protocol's funding has come from notable investors including Beacon (AI), 300 DAO, ABCDE Capital, ArkStream Capital, D1 Ventures, SATS Ventures, DHVC, and Symbolic Capital. A funding event was the Initial DEX Offering (IDO) conducted on April 18, 2025, on [Binance](https://iq.wiki/wiki/binance) Wallet, through which Lorenzo Protocol raised over $200,000. [\\[6\\]](#cite-id-5XcFVfrJgUGZbHhG) [\\[1\\]](#cite-id-K8TcWPpenBbxRcQu)​\n\n## Team & Governance\n\nThe core team of Lorenzo Protocol includes [Matt Ye](https://iq.wiki/wiki/matt-ye) as Co-founder and CEO, Fan Sang as Co-founder and CTO, Toby Yu as Co-founder and CFO, Tad Tobar as COO, and Lith Li as Head of Marketing, with the product led by Rug. [\\[3\\]](#cite-id-SVTZnfoiwIM8yy3F) While the protocol employs a governance mechanism through its BANK token, few specific details about the governance processes are outlined in the available sources.","summary":"Lorenzo Protocol is an institutional-grade asset management platform specializing in Bitcoin Finance, leveraging liquid staking derivatives and On-Chain Traded Funds for yield without custody loss. 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