All Updates

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Funding
Zest Protocol raises USD 3.5 million in seed funding
Decentralized Finance (DeFi)
May 13, 2024
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Decentralized Finance (DeFi)

Decentralized Finance (DeFi)

May 13, 2024

Zest Protocol raises USD 3.5 million in seed funding

Funding

  • Zest Protocol, a Bitcoin (BTC) lending protocol, has raised USD 3.5 million in seed funding led by Tim Draper, with participation from Binance Labs, Flow Traders, Trust Machines, etc.

  • Zest offers a lending protocol built on Stacks, a BTC layer-2 network that enables users to borrow and lend BTC. The protocol utilizes a bridging asset named "sBTC," which is pegged to the value of BTC, to allow users to deposit BTC through a native BTC blockchain transaction and fund their account balance. Users can then use the pegged tokens for lending or yield-generating activities using the protocol. Ahead of the official launch of the sBTC token, the protocol’s lending infrastructure is currently live on Stacks’ money market platform.

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