What does 'a Lamb as it had been slain' refer to in Revelation 5?
In Revelation 5, 'a Lamb as it had been slain' refers to Jesus, the capitalized Lamb, presented before God the Father as the One who can pay the mortgage. The slain depiction points to His death, burial, and resurrection; seven horns and seven eyes depict political power and the seven spirits of God.
Les explains that the Lamb is Jesus, who comes before God the Father. The question in the scene is who can pay the mortgage. The phrase 'as it had been slain' refers to His death, burial, and resurrection. Les notes the Lamb stands in the midst of the four living creatures—angelic beings—and the elders. The seven horns depict His political power, and the seven eyes are the seven spirits of God sent forth into all the earth. Les connects this to the seven attributes of the Holy Spirit and points to Isaiah 11:4.
And I beheld, and, lo, in the midst of the throne and of the four beasts, and in the midst of the elders, stood a Lamb as it had been slain, having seven horns and seven eyes, which are the seven Spirits of God sent forth into all the earth.