Zest Protocol Monthly Update - July

As always - it’s been a busy month for the Zest Protocol team. We’ll try to fit everything into this July update!

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We continue our grind leading into the Stacks Nakamoto upgrade on August 28th! 

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July was a great month to be a Zest Protocol user. While it was less action-packed than May and June, it was a great time for us to go heads down and work on user experience. 

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Here’s the TL;DR:

• New supply and borrow APR charts
• New health factor tool to make borrowing easier
• Increased Zest TVL by 21%
• CityCoins STX unlock freed up 15m in liquidity
• Tycho, Co-Founder of Zest, spoke at Bitcoin Nashville
• Introduced a new Discord role: the Zest Chad

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Let’s dive in!

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We’ve been listening to our users that want to see more data on the Zest Protocol app. We’re answering with beautiful APR charts that show historical data so you can see the potential yield on your idle assets.

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Simply click “Details” in the “Assets to borrow” dropdown to view the borrow and lending APRs for any asset! Here’s a link to the aeUSDC data pictured above.

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With this new data, users will be able to see a better picture of what the yield on their assets will look like. As you can see, APRs fluctuate significantly. As our TVL grows, yields will become more predictable.

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When borrowing on Zest Protocol, it can be difficult to understand how close you are to liquidation. Before our latest update, users had to calculate this manually. This math only gets harder as you borrow multiple assets against your collateral.

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We’re proud to introduce the new Health Factor applet to the Zest Protocol dashboard! The math is simple - the closer you are to 1 - the closer you are to being liquidated.

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Clicking the Health Factor applet on your dashboard will give you deeper insights into your borrowed assets, including your current LTV ratio.

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There are two ways to increase your Health Factor number to prevent liquidation: deposit more collateral or pay off the borrowed asset.

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This feature will automatically enable itself when you borrow an asset on Zest.

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CityCoins is an OG Stacks project from 2021. They created two tokens, Miami and NYC token, and users could earn these by stacking STX. It was basically a crowdfunding platform for users to govern over a treasury in the form of their cities’ token and be rewarded in STX.

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Recently, a governance vote passed to convert all city tokens back into STX, allowing users that held these tokens to reclaim their locked up STX. 

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Translation: 15M STX just got unlocked to leverage in Stacks DeFi.

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There is still over 5m STX sitting in the contract waiting to be claimed - have you checked yet?

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Our frens at StackingDAO partnered with CityCoins to allow users to claim directly into stSTX + earn a special NFT that has points multipliers tied to it! More details on that here.

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What can you do with your freshly claimed stSTX? Deposit it into Zest Protocol, of course. Here’s why:

• Idle stSTX does not count towards total Stacks TVL - contribute to the health of Stacks!
• Additional APR on top of your passive stSTX yield
• 1 Zest Point per day per $1 deposited
• Love and affection from the Zest Intern (no refunds)

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Tycho spoke on the “After ZIRP: Why Bitcoin Yields Matter More Than Ever” panel in Nashville this month! He was joined by Philip at Arkadiko, Brian at Acre, Peter at Velar, and Gav at WOLF.

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Check out a snippet of their talk here:

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With our Bitcoin yield product launching in Q4, it’s never been a better time to educate others about the value of real yield on BTC.

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As our community continues to grow, we are constantly thinking of new ways to recognize the zesties that contribute. We’re so excited to roll out the Zest Chad Discord role to give some spotlight to these MZPs (most zesty people).

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Want to become a Zest Chad? Contribute! Make memes, help others in our various social channels, and provide value back to the community.

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That wraps up this action packed July update! August is going to be a VERY busy month with the highly anticipated Nakamoto Upgrade rolling out on the 28th. We hope you’re as excited as we are - things are going to get absolutely crazy in the Stacks ecosystem.

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Follow us on Twitter for all of the latest updates and memes.

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Join our zesty community via Discord and Telegram!

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And as usual, stay zesty🍊

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