One thing that often confuses people when they first look at @Lorenzo Protocol is this:
Why are there two Bitcoin tokens — stBTC and enzoBTC?
It’s a fair question. And the answer actually tells you a lot about how thoughtfully Lorenzo is designed.
Let’s start simple.
Both stBTC and enzoBTC represent Bitcoin that’s been put to work. Your BTC isn’t sold. It isn’t traded. It stays exposed to Bitcoin’s value. The difference lies in what you want your BTC to do next.
stBTC is about flexibility.
It represents Bitcoin that’s earning base-level yield while staying liquid. You can hold it, move it across chains, or plug it into other DeFi protocols. Think of stBTC as working Bitcoin with freedom. It’s ideal if you want yield but still want optionality.
enzoBTC, on the other hand, is about commitment.
This is Bitcoin that’s routed deeper into Lorenzo’s structured strategies — vaults, OTFs, and yield engines that are designed to optimize returns over time. When BTC becomes enzoBTC, it’s choosing a more focused role inside Lorenzo’s financial system.
In simple words:
stBTC = productive BTC with mobility
enzoBTC = productive BTC with purpose
Neither is “better.” They serve different mindsets.
This dual-token design is intentional. Most protocols force users into a single path: either lock up your asset or don’t earn anything. Lorenzo gives users choice, which is rare in DeFi.
And this is where the bigger picture comes in.
By separating liquidity-focused BTC (stBTC) from strategy-focused BTC (enzoBTC), Lorenzo avoids mixing risk profiles. That’s not accidental — it’s institutional thinking applied on-chain.
For long-term participants and $BANK holders, this matters because it shows maturity. It shows Lorenzo isn’t just chasing yield numbers; it’s building a system where capital can move based on intent, not pressure.
Bitcoin holders aren’t all the same.
Lorenzo respects that — and designs for it.
That’s how real financial infrastructure is built.
