🔗 Binance Labs and the Tim Draper-backed protocol Zest have launched their new BTCz token as part of the latest development for decentralized finance (DeFi) on the Bitcoin network.
The new BTCz token will allow Bitcoin (BTC) holders to earn income by staking their Bitcoin through the Babylon protocol.
According to Tiho Onnash, co-founder of the Zest protocol, the new Bitcoin token (BTCz) could significantly enhance capital efficiency for the world's first cryptocurrency.
'BTCz will generate passive income from verifying PoS networks while maintaining liquidity through BTCz as a liquid token.
Currently, there are more than 10 BTC-derived assets in circulation that do something similar, but BTCz is the only one that uses the unique features of Stacks to offer its holders a much higher level of security,' said Onnash.
✔️ Zest is one of the protocols creating more utility around the world’s first cryptocurrency in a new paradigm known as Bitcoin DeFi (BTCFi), which aims to bring DeFi opportunities to the world’s first blockchain network.
