> For the complete documentation index, see [llms.txt](https://docs.zestprotocol.com/start/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.zestprotocol.com/start/zest-protocol-overview.md).

# Zest Protocol Overview

Zest Protocol is the leading Bitcoin lending protocol. BTC holders earn yield on their Bitcoin and borrow stablecoins against it.

Zest Protocol is the largest lending protocol on Bitcoin L2s, with $100M+ peak TVL and over two years of mainnet history. Built by one of the longest-running teams in Bitcoin DeFi, building on Bitcoin since 2020.

An overview Zest Protocol's products below.

## **Bitcoin Collateral Vaults**

The definitive BTC-backed lending experience. BTC stays locked on Bitcoin itself. Stablecoins are borrowed on EVM chains against that BTC. No wrapped BTC, no bridge, no custodian, and no rehypothecation.

Lending against Bitcoin has always meant giving up custody first: wrapping it into a token or handing it to a custodian. Bitcoin's base layer couldn't verify what happened to collateral elsewhere. BitVM changes that. It lets Bitcoin L1 verify the state of a lending market on another chain, so BTC can back a loan without ever leaving the base layer.

{% content-ref url="/pages/tu4MI5UuabxPk1wtdavz" %}
[Bitcoin Collateral Vaults](/start/bitcoin-collateral-vaults/introducing-bitcoin-collateral-vaults.md)
{% endcontent-ref %}

## Stacks

Zest Protocol is the DeFi superapp for Stacks. Zest Protocol is a one-stop solution for DeFi on Stacks and holds the majority of all Stacks TVL and stablecoins.

### Zest Protocol Stacks Market

The lending market, live since March 2024 and proven under real conditions. 1,500+ liquidations executed, zero bad debt. $100M+ peak TVL, 800+ sBTC deposited. Deposit canonical Stacks assets like sBTC, STX and stSTX to earn yield. Borrow against your collateral with overcollateralised loans.

{% content-ref url="/pages/H2yF0RORy0MLJdl0LcFJ" %}
[Stacks Market](/start/borrow/introducing-stacks-market-v2.md)
{% endcontent-ref %}

### Zest Protocol Stacks Vaults

Automated yield strategies built on top of the lending market. Deposit a single asset and the vault runs the strategy for you. No position management, no rebalancing.

The first vault is the Levered Bitcoin Staking Vault. Deposit BTC, sBTC or stBTC and earn 6-8% APY, derived entirely from Stacks Bitcoin Staking rewards. No emissions, no external yield sources. Withdraw dirctly on chain and the vault unwinds proportionally. The vault contract can only execute strategy actions on Zest Protocol's markets, and only you can withdraw.

{% content-ref url="/pages/6kloStoAvIeivlns5atm" %}
[Stacks Vaults (coming soon)](/start/stacks-vaults/introducing-stacks-vaults.md)
{% endcontent-ref %}

### Zest Protocol Stacks Swap

A DEX aggregator for the Stacks ecosystem. It compares prices across all Stacks DEXes and executes the best route. Swaps split across pools and chain hops through intermediate tokens, settling in one atomic transaction with on-chain minimum-received protection.

{% content-ref url="/pages/vY8msyM4Iym1t7BNKjvA" %}
[Stacks Swap](/start/stacks-swap/introducing-stacks-swap.md)
{% endcontent-ref %}