Two years ago, during the Bitcoin L2 Renaissance, the segmented tracks witnessed the grand spectacle of the 'Hundred Chains War.' Two years later, most of those BTC L2 institutional chains have nearly vanished, and after one cycle, the leader at the table is still Stacks. @Stacks, as the oldest BTC sidechain/L2, has been running its mainnet smoothly for nearly six years. The leading ecosystem on the Stacks chain has long been dominated by @ZestProtocol. According to Defillama data, Zest Protocol's deposit peak reached over $100M, and its current protocol TVL stands at $74.73M, accounting for a staggering 84.7% of the total TVL on the Stacks chain. Zest's core business is lending, and it has almost monopolized the lending market on the Stacks chain. What's worth noting is that Zest is repositioning itself as a Bitcoin capital layer, extending its reach into downstream derivative businesses, such as creating BTC collateral vaults to turn idle BTC into productive assets that generate yield. The technical implementation logic of the collateralized yield vaults aligns well with the preferences of Bitcoin OGs: BTC doesn't need to be wrapped, pooled, or custodial—it uses a constrained self-custody mechanism. Simply put: users first deposit BTC into a Taproot UTXO vault on Bitcoin L1 and lock the spending path through pre-signed transactions; on the target chain (e.g., Ethereum), a collateral proof called vaultBTC is generated; this proof can then be used for collateralized loans, and once the loan is repaid, the time lock expires, allowing unconditional retrieval. Zest has recently been prioritizing Bitcoin Collateral Vaults as its top focus, and yesterday, it finally launched a demo version on the mainnet. However, there is currently a deposit limit (a maximum of 0.001 BTC per wallet). Once the product is fully rolled out, Zest's TVL is likely to climb to another level. Looking at Zest's native token market cap, it’s not very high—$26M circulating market cap, listed on bn alpha and contracts. You might want to add Stacks and Zest to your watchlist and wait for the Bitcoin ecosystem track to gain momentum. That’s all for now.