Lorenzo Protocol is an institutional-grade asset management platform specializing in Bitcoin Finance (BTCFi), providing a mechanism for 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, 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] [2]}​

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History

Lorenzo Protocol was founded in 2022 by Matt Ye, Fan Sang, and Toby Yu. Matt Ye, serving as the CEO, has a background in quantitative trading, having worked at firms like Akuna Capital. ^{[1] [3] [4]} 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] [4]}​

Technology & Architecture

The 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]​

Lorenzo Protocol specializes in services focused on Bitcoin Finance (BTCFi). It provides a liquid staking derivative, stBTC, which represents 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 token that is fully collateralized and compatible with over 21 blockchain networks. ^{[6] [7]}​

Products & Use Cases

The platform offers a range of products aimed at optimizing yield for Bitcoin holders. Key products include:

• stBTC: A liquid staking derivative that allows BTC holders to earn yield without relinquishing control of their holdings. ^[2]
• enzoBTC: Provides integration for Bitcoin across decentralized finance (DeFi) applications by wrapping BTC, supported across various blockchain networks. ^[7]
• USD1+ OTF: A tokenized product akin to a money market that aggregates returns from multiple sources including real-world assets and DeFi. ^[6]

Team & Governance

The core team of Lorenzo Protocol includes 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] While the protocol employs a governance mechanism through its BANK token, few specific details about the governance processes are outlined in the available sources.

Partnerships & Adoption

Lorenzo Protocol serves as the official asset management partner of World Liberty Financial (WLFI), using WLFI's USD1 stablecoin to power its USD1+ product. In July 2025, WLFI acquired approximately 1 million incentive program launched jointly with BNB Chain, PancakeSwap, and BUILDon; Lorenzo was recognized as the winning project in the program's 'Existing BSC Projects' category.

Funding & Investors

Lorenzo 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 Wallet, through which Lorenzo Protocol raised over $200,000. ^{[6] [1]}​

BANK Token

The BANK token serves as a governance and utility token within the Lorenzo Protocol ecosystem. By staking BANK tokens, users receive veBANK, which grants them voting rights and additional ecosystem benefits. As of its last recorded pricing, BANK had a maximum supply of 2.1 billion tokens and had experienced volatility; for example, in July 2026 it surged to an all-time high of nearly $0.27. ^{[1] [6] [7]}​