Panama City, Panama, April 17th, 2025,
Chainwire
Hermetica, the Bitcoin-backed stablecoin issuer, has announced
that it now powers liquidations of the Stacks lending protocol
Zest. Zest will use the USDh mint process for liquidations,
allowing them to scale sBTC-backed loans and jumpstart the BTCfi
flywheel.
Hermetica’s smart contract infrastructure acts as a bridge for
centralized exchange liquidity to flow into DeFi. Zest will use the
USDh mint process for liquidations, accessing CeFi liquidity to
support greater capital efficiency for DeFi users on
Stacks.
Over $1M in USDh is now available to be borrowed on Zest,
marking a 300% increase in the borrow cap.
Jakob Schillinger, CEO of Hermetica, said: “USDh is the first
and only stablecoin designed to provide liquidity to Bitcoin-native
DeFi. By powering Zest’s liquidations with USDh, we’re enabling
scalable growth of sBTC-backed loans and establishing USDh as the
core liquidity layer for Bitcoin-native finance. No other
stablecoin has the infrastructure to deliver liquidity with this
level of security and native Bitcoin backing.”
Tycho Onnasch, CEO of Zest Protocol, added: “With native
sBTC-to-USDh minting, we can now handle liquidations more easily
and scale our sBTC loan offering. Hermetica has delivered a key
primitive for real DeFi on Bitcoin, plugging directly into what
we’re building at Zest: Stacks DeFi on the Bitcoin
standard.”
As the largest and most liquid stablecoin on Stacks, USDh plays
a vital role in powering the Stacks DeFi ecosystem with liquidity.
It enables holders to earn up to 25% APY in yield while benefiting
from a stable asset that is fully backed by Bitcoin.
About Hermetica
USDh is the first Bitcoin-backed, yield-bearing synthetic dollar
outside the fiat system. Its crypto-native team, who have previous
experience at Kraken and State Street, are backed by leading
institutional asset manager Two Prime. USDh operates as a
stablecoin that is backed by the hardest asset in the world (BTC)
that is native to the most secure blockchain in Bitcoin.
Learn more: https://www.hermetica.fi/
About Zest Protocol
Zest Protocol is a DeFi protocol built for Bitcoin. The protocol
strives to create a vibrant DeFi ecosystem around BTC the asset.
Zest Protocol recently raised a $3.5m Seed Round led by Tim
Draper’s Draper Associates, with participation from Binance Labs,
Flow Traders, Trust Machines, Asymmetric, and many more (more
information in Reuters article).
For more information, visit www.zestprotocol.com
Contact
Leora
Schreiber
pr@marketacross.com
