Zero Lend
Defunct3 known investors
ZeroLend was a multi-chain, non-custodial DeFi lending protocol focused on Ethereum layer 2 networks.
Also known as ZERO · ZeroLend
Investors · 3
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026ZeroLend operated a multi-chain, non-custodial lending platform built around Ethereum layer 2 scaling networks. The protocol positioned itself as a capital-efficient lending marketplace across multiple networks, with markets tied to liquid restaking tokens, real-world assets, BTCFi products and meme coins.
The protocol ran for roughly three years and expanded aggressively in early 2024, gaining traction on chains such as Linea and zkSync. Total value locked peaked at close to $359 million in November 2024 before declining to about $6.6 million by February 2026. The project issued a native token, ZERO. In February 2026 the team announced an orderly wind-down, disabling new borrowing by cutting most markets' loan-to-value ratios to 0% and asking users to withdraw remaining funds.
Business model
The protocol generated revenue from lending markets, where borrowers paid interest on capital supplied by depositors. Management cited the inherently thin margins and high risk profile of lending protocols as a factor in prolonged periods of operating losses.
Traction
Total value locked reached nearly $359 million at its November 2024 peak, falling to roughly $6.6 million by February 2026 according to DefiLlama. The ZERO token traded at $0.06696 in mid-February 2026, down 99.4% year over year.
Latest developments
In February 2026 the team announced a wind-down, placing the platform in withdrawal-only mode by reducing most markets' loan-to-value ratios to 0% and urging users to withdraw funds. The team acknowledged some assets could remain stuck on chains with deteriorated liquidity and planned smart-contract upgrades to redistribute them, while continuing recovery efforts tied to the February 2025 Base exploit.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
ZeroLend was described as a fast-growing lending protocol within Ethereum's layer 2 ecosystem, reaching nearly $359 million in total value locked at its November 2024 peak. Its closure placed it among a group of DeFi platforms that wound down in the same period, including Polynomial, Arkham Exchange, Futureswap and, earlier, Alpaca Finance.
Technology
ZeroLend ran non-custodial smart-contract lending markets deployed across multiple blockchains, concentrated on Ethereum layer 2 networks including Linea, zkSync and Base. Markets relied on external oracle providers for pricing; the discontinuation of oracle support on some chains was cited as an operational constraint. During the wind-down the team planned smart-contract upgrades to redistribute funds stranded on chains with deteriorated liquidity.
Go-to-market
Crypto users supplying assets to earn yield and borrowers seeking collateralized loans on Ethereum layer 2 networks.
Geography
Operated as an on-chain protocol across multiple blockchain networks rather than in defined geographies.
History
Founded roughly three years before its February 2026 shutdown, ZeroLend scaled quickly on Ethereum layer 2 chains in early 2024 and raised a $3 million seed round that year. Its total value locked peaked in November 2024. In February 2025 an exploit involving a Bitcoin product on Base drained lending pools; recovery work continued alongside plans to partially compensate affected suppliers from a team-held airdrop allocation. In February 2026 co-founder and CEO 'Ryker' announced the protocol would wind down.
Risks & controversies
A February 2025 exploit involving a Bitcoin product on Base saw an attacker drain lending pools; affected suppliers were expected to receive only partial compensation, funded by a team-held airdrop allocation. Leadership also cited increased attention from hackers and scammers, declining on-chain activity, discontinued oracle support on some chains, and sustained operating losses. During the wind-down, some user assets risked remaining stranded on illiquid chains.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsCo-founder and CEO 'Ryker' announced the protocol would wind down after three years, citing inactive or less liquid supported chains, discontinued oracle support, thin lending margins, exposure to hacks and scams, and prolonged operating losses. Most markets had loan-to-value ratios cut to 0%, disabling new borrowing and leaving the platform withdrawal-only.
An attacker drained lending pools in a February 2025 exploit involving a Bitcoin product on Base; recovery efforts continued into 2026, with affected suppliers expected to receive partial compensation funded by a team-held airdrop allocation.
The protocol expanded aggressively in early 2024, gaining traction on chains including Linea and zkSync.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 4
primary sources listed
- SBA 7(a) Financing 2026: The Zero-Down Myth Is Deadangelinvestorsnetwork.com · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Zero Lend do?
- ZeroLend was a multi-chain, non-custodial DeFi lending protocol focused on Ethereum layer 2 networks.
- Who are Zero Lend's investors?
- Zero Lend's investors include Andromeda Capital, Mapleblock Capital, WWVentures.