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Zest Protocol raises $3.5m Seed round to redefine Bitcoin lending
Led by @DraperVC, with participation from @BinanceLabs, @FlowTraders, @trustmachinesco, @goasymmetric and more 🤝
Zest Protocol
@ZestProtocol
🟧 The lending protocol built for Bitcoin, backed by @drapervc & @yzilabs
Borrow against your Bitcoin and earn up to 3% APY (paid in BTC)
Joined February 2022
- Zest Protocol is the largest lending protocol on any Bitcoin L2. The experience is now coming to Bitcoin L1: native BTC as collateral, stablecoins borrowed on EVM chains. That's Bitcoin Collateral Vaults.Stacks DeFi TVL: @ZestProtocol $64M @GraniteBTC $7.5M @HermeticaFi $5.3M @bitflow $2.6M Lending holds 90% of it. BTC holders don't want to trade their bitcoin, they want to earn on it without selling. Latest from @castle_labs 👇
- Bitcoin as collateral is where institutional adoption goes next. Zest Prootcol Founder @TychoOnnasch and @FireblocksHQ Head of Strategy Neil Chopra discuss: hold the asset, keep the upside, borrow against it. That is exactly what Zest Protocol is building.
- Risk parameter updates for Zest Protocol Borrow v1 and v2, effective 20th August. Liquidity conditions for $STX have changed since borrow parameters were originally set. In thin liquidity, STX can move up sharply, and a fast rise in the price of borrowed STX pushes debt value up
