BTC is the biggest crypto asset and barely has a role in a $75B DeFi market.
The reason: no way to use BTC without giving up custody.
Zest Protocol is changing that with Bitcoin Collateral Vaults. BTC stays on L1, stablecoins borrowed across EVM chains.
Zest Protocol is expanding with $ZEST listing on Binance futures and new chains such as Base and Ethereum.
@TychoOnnasch breaks down Zest Protocol's next steps on the @Stacks DeFi show tomorrow at 10 AM ET.
The biggest liquidity event in crypto is making BTC productive.
It only happens when BTC can be used onchain without surrendering custody.
That's what Bitcoin Collateral Vaults do: borrow against native BTC on L1.
1st institutional BTC staking on Stacks just dropped!
UTXO Management locking BTC + STX to earn BTC yield. There’s no wrapping or bridging - fully self custodial
Top 100 corporate Bitcoin treasuries hold $87B in BTC. None of it earns anything
That problem now has a product 👀
3000 $BTC is the initial proposed capacity for the first bonding period (4,200 Bitcoin blocks ~1 month).
Additional capacity is introduced with each new bonding period.
And a new bonding period opens approximately once a month, or every 4200 blocks.
UTXO Management is excited to be an inaugural participant for Bitcoin Staking on @Stacks !
This makes UTXO among the first institutional Bitcoin managers to pursue Bitcoin-denominated yield while retaining full custody of its Bitcoin on the base layer.
BIG news.
@UTXOmgmt, the Bitcoin native asset management arm of Nakamoto Inc., is the inaugural participant in Bitcoin Staking on Stacks.
This means institutional BTC earning BTC yield, without ever leaving the base layer.
hBTC TVL keeps climbing.
The latest 25 BTC additional capacity filled in under 24 hours. Demand for BTC yield is outpacing the windows.
Did you get in? 👀
$ZEST has been contributing value to the Bitcoin ecosystem and has been battle tested thoroughly for years.
There is no wonder why the chart is looking as bullish as it is with $BTC having a bit of volatility.
Tapping into Bitcoin borrowing and lending, estimated to be a significant sized market in a $1.5 Trillion dollar landscape, is no small deal.
Bitcoin has sat idle, waiting patiently for this moment. Deposit L1 $BTC on @ZestProtocol , earn BTC rewards. Its that easy. 👇
Since TGE one week ago, $ZEST has been doing amazingly great.
Consistently being top trending on CMC, Coingecko and Binance alpha leaderboards outranking other Binance alpha projects.
$54m average 24-hour volume since launch.
Consistently growing open-interest on futures platforms:
• $1.4m Open Interest on Gate Futures
• $1.1m Open Interest on Aster Perps
• Futures are now open on KuCoin
Tim backed us when few believed in BTC-backed loans.
He personally replies to our investor updates more than any investor I've worked with. One of a kind.