ZeroLend
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Information about ZeroLend (ZERO)
ZeroLend is the largest lending market on L2s—Linea, zkSync, Manta, Blast, and X Layer—with a focus on liquid restaking tokens (LRTs) lending, governance, real-world assets (RWAs) lending, and account abstraction. The ZeroLend ecosystem is meticulously designed to encompass a comprehensive suite of lending and borrowing functionalities, all wrapped in a user-friendly interface that fosters effortless DeFi adoption.
Emerging as one of the most rapidly evolving DeFi protocols within the zkSync ecosystem, ZeroLend has witnessed remarkable growth in its Total Value Locked (TVL), surging by over 1,500% from a mere $3 million to an impressive $50 million in the past year. The project successfully secured $3 million in funding at a $25 million valuation from prominent venture capital firms, including Momentum 6, Blockchain Founders Fund, Morning Star Ventures, Banter Capital, and Newman Capital,…
ZERO is a native coin of the ZeroLend ecosystem, operating on Linea according to ERC20 standard, and can be used to:
- Staking ZERO tokens for a predetermined duration to earn rewards.
- Paying fees on ZeroLend.
- Reward users for adding liquidity on ZeroLend, referring users to ZeroLend, or completing other tasks to grow the protocol.
- Used as collateral for DeFi loans, yield farming.
Specifications
- Name: ZeroLend
- Symbol: ZERO
- Platform: Linea
- Standard: ERC20
- Type: Utility, Governance
- Smart Contract Address: 0x78354f8DcCB269a615A7e0a24f9B0718FDC3C7A7
- Total supply: 100,000,000,000 ZERO
News
After raising funds with MIRA token for research, Chen launched ZERO, claiming it was for self-learning purposes. Despite clear warnings that the token was likely to lose investors’ money, Chen faced backlash as some investors felt misled.
Following accusations of exploiting his daughter’s illness for personal gain, Chen apologized and burned his profits to regain trust. The crypto community remains divided, with some offering support and others questioning his motives.
Siqi Chen’s ZERO token briefly reached a market value of 6,000,000 USD but quickly collapsed by almost 70%. This drastic drop has raised questions about the legitimacy of the launch and the role of Chen in the fallout.
Despite Chen’s warning about the token’s imminent value loss, investors rushed in. This behavior resulted in accusations of a rug pull, prompting scrutiny over Chen’s crypto history and his promises to reimburse affected investors.
This collaboration will allow Linea users to automate their farming strategies using the smart pool on Clip Finance.
The integration supports three major currencies: USDC, USDe, and ETH. This means that Linea users can now automate their farming strategies using these currencies, providing them with more flexibility and options in their farming operations.
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