ZestProtocol
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🔥💥Binance invests in Bitcoin yield and credit project Zest Protocol
#Binance Labs, the investment arm of the Binance exchange, announced that it has invested in #ZestProtocol an on-chain Bitcoin credit project. After sending BTC to their accounts on Zest, users can choose one of the return or credit options thanks to their assets returned to SBTC here.
Binance Labs, a subsidiary of the Binance exchange that has so far invested more than $ 10 billion in more than 25 countries, has officially announced its new investment. The company has invested in Zest Protocol, a Bitcoin credit and return project that runs on the Staks network.
The upcoming Stacks Nakamoto update of the Stacks network and Zest Protocol, which will have the ability to use the sBTC blockchain development, allows uploaded Bitcoins to be converted to SBTC, and then allows users to withdraw loans from the system or get a return.
Users become a liquidity provider through the BTC they connect to the system and earn returns with the Earn Pool, while they can withdraw loans in exchange for uploaded BTC through the Barrow Pool.
Yi He, one of the founders of Binance and the head of Binance Labs, said about the investment, “Zest Prtocol's technology meets the needs of Bitcoin investors and those who hold it for a long time.” He also expressed that they are looking forward to the Nakamoto update, which is one of the most important steps for the growth of Zest Protocol.
#BinanceLaunchpool #altcoins
Binance Labs, a subsidiary of the Binance exchange that has so far invested more than $ 10 billion in more than 25 countries, has officially announced its new investment. The company has invested in Zest Protocol, a Bitcoin credit and return project that runs on the Staks network.
The upcoming Stacks Nakamoto update of the Stacks network and Zest Protocol, which will have the ability to use the sBTC blockchain development, allows uploaded Bitcoins to be converted to SBTC, and then allows users to withdraw loans from the system or get a return.
Users become a liquidity provider through the BTC they connect to the system and earn returns with the Earn Pool, while they can withdraw loans in exchange for uploaded BTC through the Barrow Pool.
Yi He, one of the founders of Binance and the head of Binance Labs, said about the investment, “Zest Prtocol's technology meets the needs of Bitcoin investors and those who hold it for a long time.” He also expressed that they are looking forward to the Nakamoto update, which is one of the most important steps for the growth of Zest Protocol.
#BinanceLaunchpool #altcoins
Binance Labs has invested in Zest Protocol, an on-chain Bitcoin lending project.
The project allows users to send Bitcoin to their accounts and choose between receiving a return or taking out a loan, with their assets converted to a stablecoin called sBTC.
#BinanceLabs #BinanceLaunchpool #BTC #ZestProtocol #sBTC
The project allows users to send Bitcoin to their accounts and choose between receiving a return or taking out a loan, with their assets converted to a stablecoin called sBTC.
#BinanceLabs #BinanceLaunchpool #BTC #ZestProtocol #sBTC
Zest Protocol secures $3.5 million to revolutionize Bitcoin lending through DeFi. 🔥💰
Zest Protocol, a groundbreaking lending protocol tailored for Bitcoin, has secured a $3.5 million seed round led by Draper Associates, with participation from esteemed investors like Binance Labs and Flow Traders. This investment underscores growing enthusiasm for Bitcoin-focused decentralized finance (DeFi) initiatives.
The protocol, spearheaded by a team with extensive experience in Bitcoin infrastructure, aims to revolutionize the borrowing process for BTC holders. Leveraging upcoming upgrades such as Stacks Nakamoto and sBTC blockchain enhancements, Zest Protocol introduces a novel borrowing experience by integrating sBTC's fixed bank transfer format. This allows users to engage in lending and yield-generating activities seamlessly.
With a mission to integrate Bitcoin DeFi into users' experiences, Zest Protocol addresses the needs of both Bitcoin holders and borrowers. Backed by notable investors like Tim Draper and Binance Labs, the protocol's technology is anticipated to unlock Bitcoin's programmability and contribute to the expansion of the ecosystem.
This successful seed round signifies a growing interest in Bitcoin-centric DeFi projects. With a seasoned team and strong investor backing, Zest Protocol is well-positioned to make significant strides in the Bitcoin lending ecosystem, paving the way for a more vibrant and accessible DeFi landscape.
#BTC #BinanceLabs #Zest #ZestProtocol #DeFi
Zest Protocol, a groundbreaking lending protocol tailored for Bitcoin, has secured a $3.5 million seed round led by Draper Associates, with participation from esteemed investors like Binance Labs and Flow Traders. This investment underscores growing enthusiasm for Bitcoin-focused decentralized finance (DeFi) initiatives.
The protocol, spearheaded by a team with extensive experience in Bitcoin infrastructure, aims to revolutionize the borrowing process for BTC holders. Leveraging upcoming upgrades such as Stacks Nakamoto and sBTC blockchain enhancements, Zest Protocol introduces a novel borrowing experience by integrating sBTC's fixed bank transfer format. This allows users to engage in lending and yield-generating activities seamlessly.
With a mission to integrate Bitcoin DeFi into users' experiences, Zest Protocol addresses the needs of both Bitcoin holders and borrowers. Backed by notable investors like Tim Draper and Binance Labs, the protocol's technology is anticipated to unlock Bitcoin's programmability and contribute to the expansion of the ecosystem.
This successful seed round signifies a growing interest in Bitcoin-centric DeFi projects. With a seasoned team and strong investor backing, Zest Protocol is well-positioned to make significant strides in the Bitcoin lending ecosystem, paving the way for a more vibrant and accessible DeFi landscape.
#BTC #BinanceLabs #Zest #ZestProtocol #DeFi
