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Bitcoin Collateral Vaults demo is now on mainnet.
Deposit native BTC into a self-custodial vault on Bitcoin L1. Borrow Ethereum USDC against it. The capital layer for Bitcoin.
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The capital layer for Bitcoin is coming to Singapore.
See you at @DeFinition_evt.
Zest Protocol joins DeFinition as a sponsor.
@ZestProtocol is the capital layer for Bitcoin, where BTC stays in a self-custodial vault on Bitcoin's L1, and holders borrow stablecoins against it on EVM chains.
October 7, Singapore
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One of many live Bitcoin Collateral Vault positions.
BTC locked in a self-custodial vault on Bitcoin L1. USDC borrowed against it.
I wanted to see what borrowing against native BTC actually feels like, so I tried @ZestProtocol myself.
The flow was smooth, but definitely not instant.
I deposited 0.00042 BTC (~$35.30) through Xverse, went through several confirmation steps, waited for the vault to finalize, and then borrowed 10 USDC against it.
There are quite a few transactions and some waiting involved, especially compared with what I'm used to on EVM.
But the UI made each step easy to follow, and the core idea is pretty interesting:
native BTC stays on Bitcoin while you borrow USDC on Ethereum.
No wrapping. No bridging.
First time trying Zest, and the overall experience was straightforward.
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