{"id":30627,"date":"2024-05-13T17:37:55","date_gmt":"2024-05-13T17:37:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tim-draper-leads-3-5-million-raise-for-bitcoin-liquidity-protocol-zest\/"},"modified":"2024-05-13T17:37:55","modified_gmt":"2024-05-13T17:37:55","slug":"tim-draper-leads-3-5-million-raise-for-bitcoin-liquidity-protocol-zest","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tim-draper-leads-3-5-million-raise-for-bitcoin-liquidity-protocol-zest\/","title":{"rendered":"Tim Draper leads $3.5 million raise for Bitcoin liquidity protocol Zest"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-with-us-dollar-bills-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-with-us-dollar-bills-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-with-us-dollar-bills-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-with-us-dollar-bills-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Tim Draper\u2019s VC firm Draper Associates led the $3.5 million seed round for Zest Protocol.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Binance Labs, Trust Machines and Bitcoin Frontier Fund among key participants.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Billionaire Tim Draper has led a $3.5 million seed round investment in the on-chain <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> lending platform Zest Protocol.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Other than the billionaire\u2019s venture capital firm Draper Associates, the round also attracted the participation of Binance Labs, Trust Machines and Flow Traders. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin Frontier Fund, Gravity Fund, Primal Capital, Hyperithm, Miton Crypto, Tykhe Block Ventures, Elixir Capital also participated.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Per details published in a <a href=\"https:\/\/www.zestprotocol.com\/blog\/zest-protocol-raises-3-5m-seed-round\" target=\"_blank\" rel=\"noopener\">blog post<\/a> on Monday, Zest will use the funds to expand its decentralised, peer-to-peer lending business.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the platform, users can lend their Bitcoin (BTC) or borrow against it. With this, users have an opportunity to generate yield or passive income without having to sell their Bitcoin.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Growing the Bitcoin DeFi ecosystem<\/span><\/h2>\n<p><span style=\"font-weight: 400\">To bring the product to the community, Zest Protocol has tapped into Bitcoin layer 2 network Stacks. The project leverages Stacks\u2019 Nakamoto upgrade to allow for asset bridging asset, unlocking access to DeFi on Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Tycho Onnasch, founder of Zest Protocol, commented:<\/span><\/p>\n<p><em><span style=\"font-weight: 400\">\u201cUnlike on Ethereum, the creation of basic DeFi primitives such as liquidity pools isn\u2019t possible on Bitcoin L1. The Stacks sBTC upgrade is set to be a watershed moment for Bitcoin DeFi, which is what it was designed for from the beginning.\u201d<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400\">Users with sBTC can fund their Zest Protocol balances with sBTC to gain access to lending or other yield-generating features.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tim-draper-leads-3-5-million-raise-for-bitcoin-liquidity-protocol-zest\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Tim Draper\u2019s VC firm Draper Associates led the $3.5 million seed round for Zest Protocol. Binance Labs, Trust Machines and Bitcoin Frontier Fund among key participants. Billionaire Tim Draper has led a $3.5 million seed round investment in the on-chain Bitcoin [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":30628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30627"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=30627"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/30628"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=30627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=30627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=30627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}