Zeno Lend

Zeno Lend is a multi-chain lending protocol: depositors receive iToken receipts that can keep circulating in outside protocols, borrowers draw against a collateral ratio, prices come from Pyth oracles, and flash loans plus per-market collateral caps isolate liquidation risk on long-tail assets, with rates floating on utilisation.

Deployment began in August 2024, reached Soneium mainnet in January 2025, extended to Unichain and Story in February, and later added Hemi alongside Celo, Movement and ApeChain. The team also embedded an assistant called ZENO-AI that answers questions on rates, collateral and liquidation from the documentation and live on-chain parameters. Liquidations are executed by open bots: under-collateralised positions are auctioned at a discount and any surplus returns to the borrower. Parameters are managed jointly by a multisig and governance, and a new market must pass a risk rating and a supply cap before it opens.