Decentralized lending protocol ZeroLend announced a partnership with the permissionless yield-trading protocol Pendle and the delegated staking protocol Ether.fi. This collaboration aims to provide eBTC to the Pendle market for BTC-based restaking tokens.
Now, users engaging in trading will have the opportunity to earn point-enhancing rewards from a range of protocols, including Ether.fi, Symbiotic, Veda, Zero Gravity, Babylon, Lombard, Karak, and EigenLayer.
In addition, ZeroLend has listed the Pendle token for eBTC. This listing allows Pendle users to leverage their positions and potentially earn an upfront leveraged yield of up to 10x. Users can also accumulate Zero Gravity points and TurtleClub Boosts through this opportunity.
In order to participate, users should mint PT and YT tokens on Pendle first. Next, they should swap YT for PT, use PT as collateral on ZeroLend to borrow eBTC, and then repeat the process.
Additionally, ZeroLend has introduced ZERO incentives for both the supply and borrow sides of all tokens. Currently, the annual percentage yield (APY) for eBTC is 31.19%, for PT eBTC is 180%, and for WBTC is 72.56%.
eBTC is Ether.fi’s primary Bitcoin-backed liquid restaking token (LRT), designed to meet the increasing need for alternative collateral in restaking. It facilitates yield optimization and broadens its utility. eBTC is supported by LBTC through a collaboration with Lombard, introducing the first dual-yielding, staking, and restaking Bitcoin product to the market.
ZeroLend x Pendle x EtherFi
An exclusive Pendle market for BTC-based restaking tokens like $eBTC.
➤ 3x EtherFi Points
➤ 1x Symbiotic Points
➤ 4x Veda Points
➤ 3x Zero Gravity points
➤ 1x Babylon Points
➤ 2x Lombard Points
➤ Karak Points (TBD)
➤ Eigen Points (TBD)
pic.twitter.com/UDqFVamSIM
— ZeroLend (@zerolendxyz) September 9, 2024
ZeroLend Introduces ZERO Token And Launches Airdrop
It is the lending market across Layer 2 networks, including Linea, zkSync, Manta, Blast, and X Layer. The platform specializes in lending LRTs, governance, real-world assets (RWAs), and account abstraction.
Earlier this year, ZeroLend launched its token, ZERO, and conducted a token airdrop. ZERO is an ERC-20 token on Linea that functions as both a utility and governance token within the ZeroLend ecosystem. It is bridgeable to all chains via LayerZero. The total supply of ZERO tokens is 100 billion.
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