Zest Protocol
ZESTA Bitcoin-ecosystem lending protocol on Stacks
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.27% | 4.15% | 4.64% | 29.45% | 25.11% | 15.58% |
Revenue & Burn
Protocol income
$6.84KBuyback funds
$0Burn funds
--Buyback ratio
0.0%Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $6.84K | $0 | -- | 0.0% |
| Sep 2026 | $9.11K | $0 | -- | 0.0% |
| Aug 2026 | $6.29K | $0 | -- | 0.0% |
| Jul 2026 | $6.91K | $0 | -- | 0.0% |
| Jun 2026 | $6.97K | $0 | -- | 0.0% |
| May 2026 | $7.63K | $0 | -- | 0.0% |
Comparison
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| 0x0e30...673b |   ZEST | 771,883,334 | 77.19% | $144.37M |
| 0x1de1...0005 | ZEST | 67,116,666 | 6.71% | $12.55M |
| 0x010d...a06f | ZEST | 40,349,845 | 4.03% | $7.54M |
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About Zest Protocol
Zest Protocol is a Bitcoin lending protocol whose core product is Bitcoin Collateral Vaults. Users lock BTC directly on the Bitcoin base layer in self-custodial vaults and borrow stablecoins without wrapping, bridging, or trusting a custodian. The vault's spending conditions are tied to a smart contract on a destination chain (e.g., Stacks or Ethereum), and liquidation payouts occur natively on Bitcoin.
The pain point it addresses is the trilemma in BTC lending: centralized lenders require custody (counterparty risk), while decentralized alternatives typically rely on bridged/wrapped BTC (bridge risk). Zest Protocol keeps BTC on Layer 1, using pre-signed transactions in Phase 1 and moving toward BitVM verification in Phase 2 to reduce trust assumptions.
In the past six months (March–September 2026), the protocol's ZEST token listed on secondary markets in May 2026. It experienced extreme volatility: a 405% surge in 7 days followed by a 40% drop in 24 hours, with 24-hour trading volume ($25M) nearly equal to circulating market cap ($25M), indicating speculation-driven trading. Fundamental metrics like TVL and borrowing volume remain in early validation. Negative aspects include concerns about smart contract risk under complex lending logic, liquidation reliability under extreme market conditions, and inflation pressure from a 10 billion total token supply as unlocks occur. Competitors like Aave are also expanding into native BTC lending, which could dilute first-mover advantages.
Zest Protocol, a Bitcoin lending protocol, emerged from Trust Machines in 2021, where the team worked with Stacks founder Muneeb Ali on DLCs and FROST signer networks before spinning out. In 2023, it raised a $3.5M seed round led by Draper Associates, with participation from Binance Labs and others, validating its vision. The protocol launched its lending market on Stacks mainnet in March 2024, becoming the first money market for Stacks assets. Following the sBTC launch in December 2024, Zest integrated sBTC as collateral, attracting over 10% of sBTC supply and surpassing $100M TVL. In 2025, it introduced Bitcoin Collateral Vaults, a two-phase approach using pre-signed transactions initially and BitVM verification later, enabling BTC to be used as collateral without leaving the Bitcoin chain. These milestones mark Zest's evolution from a Stacks-native lender to a broader Bitcoin DeFi infrastructure provider.
Emil E. (Co-Founder): Previously served as Engineering Partner at Trust Machines and Data Scientist at HSBC. Holds a Master's degree in Physics from the University of Warwick.
Tycho Onnasch (Co-Founder): Former General Manager at Trust Machines, led product development for Stacks (Bitcoin Layer 2). Graduated from the University of Oxford with a BA in History and Politics.