Zest Protocol Stacks market opening
3
minute read
May 10, 2024
Tycho Onnasch
We’re excited to open Zest Protocol once again, this time more secure than ever.
Zest Protocol was paused on April 11th following the discovery of a security vulnerability (details). User balances remain unaffected. Rather than a quick restart, we decided to do a full professional security review before opening. Slow and steady wins the race in DeFi.
We’ve achieved a lot over the past weeks. The discovered vulnerability has been fixed. The fixed contracts have been re-audited entirely by the team at Thesis Defense as well as two top-15 Immunefi white hat hackers. This is the most comprehensive security review of a protocol that we’ve seen in our 3 years building in crypto. No severe issues were found (bullish on our devs!). Check the full report here.
For users with open positions that have reached liquidation threshold, a three day grace period applies where you can top up collateral to avoid liquidation. You will see details in the UI if this applies to your position, including details on the exact timing of the grace period.
While the smart contracts were being upgraded, the rest of the team wasn't sitting still. Let’s have a look at what happened.
We did a full redesign (look at that!).
Introduced points (check your position on the leaderboard here), 1 point per day per $1 supplied on the platform.
And designed a unique DeFi Bootstrapper Genesis NFT collection for the users who had funds on the protocol during the pause (the legends of Stacks DeFi). See details here. Stay tuned for announcements on the release.
Get started on Zest Protocol today
Hit app.zestprotocol.com to start lending on Stacks. What you can do now:
- Earn yield on STX
- Earn a 50% Stacking DAO points booster on stSTX
- Earn 6% yield on aeUSDC
- Borrow STX or aeUSDC against stSTX (for levered plays on Stacks like $LEO or $WELSH)
You earn 1 point per $1 supplied per day.
Stay tuned for more asset listings, announcements on further Genesis NFTs for new users, and updates to the points system.
