NEW YORK, July 31, 2025.  Zenrock, the decentralized custody network incubated by Dan Tapiero's 50T Funds (“50T” - formerly 10T Holdings and 1RoundTable Partners), enables secure, decentralized wrapped asset self-custody through its Decentralized Custody Token (“DCT”) Standard. 

zenBTC, the first DCT, is the first wrapped Bitcoin asset on Solana that is both decentralized and natively yield-bearing.

The $2T Bitcoin market remains underserved by traditional custodians that lack yield offerings. zenBTC solves this by enabling self-custody and maintaining Bitcoin’s native security model while unlocking yield opportunities across the Solana ecosystem

With the rapidly growing accessibility of tokenized equity, credit, and real estate, institutions and retail participants alike are increasingly seeking to maximize the tradeability and capital efficiency of larger TAM assets (like BTC) using onchain rails. 

The performance of the underlying blockchain directly drives onchain activity, as shown by Solana's emergence as the leading destination for Bitcoin trading. According to a recent report by Syndica, in June 2025, Solana accounts for 59% of wallets trading BTC, despite have less than 25% of the total wrapped BTC market, demonstrating how capital efficiency attracts large-scale onchain activity

Zenrock is aligned with Solana’s mission to expand permissionless Bitcoin infrastructure, recognizing that Bitcoin represents the world's premium collateral asset. With Bitcoin's proven track record as an institutional-grade store of value (“digital gold”), Zenrock aims to pair the world's highest-quality collateral with the world's most efficient blockchain.

zenBTC is designed to maximize Bitcoin returns. It natively generates yield from fees on the underlying custody network - a sustainable source that scales with network growth. zenBTC goes further through direct DeFi utilization within Solana’s onchain economy starting with Solana’s largest credit market, Kamino Finance.

"Bitcoin is premium collateral, but the actual utilization of Bitcoin in the onchain economy has been remarkably low," said Aditya Dave, Co-Founder of Zenrock. "That's going to change. zenBTC provides secure access to native Bitcoin yield opportunities that have been inaccessible to institutional investors until now."

With only 6,945 Bitcoin currently deployed on Solana, zenBTC represents a significant opportunity to scale institutional Bitcoin adoption on the high-performance blockchain. zenBTC's distributed MPC technology maintains Bitcoin's security properties while benefiting from Solana's transaction speed and cost efficiency. 

Zenrock has partnered with Kamino Finance to make zenBTC the premier Bitcoin management solution on Solana. zenBTC Kamino Liquidity Vaults offer automated yield strategies and capital efficiency tools tailored for power users and passive investors alike. zenBTC is also verified on Kamino Swap, providing users with optimal pricing and protection against token swap errors. 

To bootstrap deep liquidity, 2.8 million $ROCK tokens will be distributed over 13 weeks through a targeted incentive program designed to reward sustained participation. $ROCK is the native token that secures Zenrock’s decentralized custody network.

The zenBTC Kamino Liquidity Vaults are implementing a progressive scaling model across three strategic trading pairs: zenBTC-cbBTC (leveraging Coinbase's institutional Bitcoin), zenBTC-USDG (providing fiat liquidity), and zenBTC-jitoSOL (capturing Solana's liquid staking yield). Weekly $ROCK token distributions start at 200,000 tokens in the foundation phase and scale to 400,000 tokens during sustained expansion, rewarding long-term liquidity providers while filtering out mercenary capital.

This post is commissioned by 10T and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.