#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.