The Bitcoin halving has catalyzed a wave of interest in creating DeFi capabilities for Bitcoin, the world's first blockchain network. Binance Labs and Tim Draper-backed Zest Protocol have launched their new BTCz token in the latest development for Bitcoin-native decentralized finance (DeFi). The new BTCz token will allow Bitcoin (BTC) holders to earn a staking yield on their Bitcoin through the Babylon Protocol.

The new Zest Protocol Bitcoin (BTCz) token could bring a significant increase in capital efficiency for the world's first cryptocurrency, according to Tycho Onnasch, the co-founder of the Zest Protocol. Zest is among the protocols building more utility around the world's first cryptocurrency in a new paradigm known as Bitcoin DeFi (BTCFi), which aims to bring DeFi capabilities to the world's first blockchain network.

The BTCz token will be a cousin to Stacks' sBTC, but the yield percentage remains unknown. This latest development in the Bitcoin DeFi ecosystem could further drive adoption and innovation in the world of decentralized finance.

Source: https://cointelegraph.com/news/binance-labs-zest-protocol-btcz-token-bitcoin-defi

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