Zest Protocol Community

I think the institutional participation itself is a strong signal. For BTC holders, the appeal isn't just the ~3% APY, it's earning native BTC yield while keeping custody on L1 and avoiding lending or rehypothecation. The first Bond will probably be a good test of whether that combination is compelling enough to drive real demand. If the inaugural round fills quickly, that could say a lot more about the product than simply comparing APYs across different BTC yield options.