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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.
