Liquid Yield Bearing Bitcoin on Solana

zenBTC is Zenrock's flagship product. It's a fully decentralized, yield-bearing wrapped Bitcoin on Solana. Bitcoin holders can put their BTC to work in DeFi while keeping decentralized custody and a 1:1 backing with real Bitcoin.

Zenrock Labs, a decentralized custody network incubated by Dan Tapiero's 50T Funds (formerly 10T Holdings and 1RoundTable). Co-founded by Aditya Dave.

Bitcoin is the most valuable digital asset in the world, but less than 2% of it is being used in DeFi. Most wrapped Bitcoin solutions rely on centralized custodians, which introduces counterparty risk. zenBTC gives you a fully decentralized, permissionless way to bring your Bitcoin into DeFi without trusting a centralized party.

Solana is the primary chain, with SEI support as well. The architecture is omnichain and supports cross-chain transfers across EVM and non-EVM environments.

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Every zenBTC token is fully backed by real Bitcoin in decentralized custody. When you mint zenBTC, your deposited BTC stays locked on the Bitcoin blockchain and is untouched until you redeem. Reserves are transparent and verifiable.

dMPC (distributed Multi-Party Computation) is the cryptographic technology that decentralizes private key management. Private keys are never fully reconstructed. Instead, key shards are distributed across a network of independent third-party node operators, and transactions are signed collaboratively. No single entity ever holds the complete private key. This eliminates single points of failure and removes the need for centralized custody. Think of it as a more powerful, decentralized evolution of traditional MPC and multi-sig.

Head to zenbtc.app.zenrocklabs.io, deposit your BTC, and receive zenBTC on Solana. Your Bitcoin gets locked on the Bitcoin blockchain, and only you can make a key request and complete transaction signings. Full self-custody from start to finish.

Burn your zenBTC tokens and receive your underlying BTC back on the Bitcoin blockchain. Because zenBTC is yield-bearing, you may withdraw more BTC than you originally deposited since yield accrues over time.

Real protocol fees, not token emissions, points, or opaque strategies. Specifically, 5% of all zrChain fees flow to zenBTC holders, and 35% of zenBTC custody fees go directly to holders. Yield is paid in sats on the Bitcoin blockchain, distributed daily.

The underlying BTC is never lent out, levered up, or used as risk capital. There are no basis trades, delta-neutral strategies, or opaque vaults. Yield is funded entirely by real protocol activity.

It's self-balancing and market-driven, based on two variables: total zenBTC supply and total Zenrock protocol fees. More fees push yield up. More minting pushes yield down. If yield falls too low, users redeem, supply drops, and yield rises again. No governance votes, no manual rate setting, no emissions schedules.

Visit app.zenrocklabs.io/zenbtc/yield for live yield data.

No. The dMPC architecture means no single custodian, institution, or entity controls the locked Bitcoin. Key shards are held by independent node operators, and the system runs on-chain with verifiable reserves.

It stays on the Bitcoin blockchain in decentralized custody secured by the dMPC keyring. It's never moved to a centralized vault, lent out, or used for trading. It stays locked until you redeem.

Zenrock's custody network is secured by the $ROCK token through staking and governance. zenBTC also integrates with restaking protocols for additional economic security.

The codebase is open source on GitHub (github.com/zenrocklabs/zenbtc). Check Zenrock's official docs and announcements for the latest audit info.

Use it across Solana's DeFi ecosystem. Current integrations include Kamino Finance (Solana's largest credit market) with automated yield strategies and Liquidity Vaults, Kamino Swap for optimized pricing, and liquidity pools trading against cbBTC, USDG, and jitoSOL. zenBTC is also live on DEXs like Orca.

Zenrock's native utility and governance token. It secures the decentralized custody network through staking and governance. Value flows to $ROCK through protocol fees, network activity, and deflationary mechanisms. It's the economic foundation that makes zenBTC's security model work.

Bitcoin to deposit, a Solana wallet (Phantom works great), and a visit to zenbtc.app.zenrocklabs.io to mint.