Overview
What is Zona?
Zona is a one-click looping protocol for both RWAs and crypto-native assets. With a single click, you can borrow and loop to get boosted price exposure, boosted yield, or both - without doing manual steps across multiple protocols.
Zona consists of two core products:
ZonaLend
LiveUnderlying lending/borrowing platform that provides liquidity for looping. Users can also use it like a normal lending market (deposit, borrow) without looping. Deposit RWAs or crypto-native assets as collateral, then borrow against them.
app.zona.finance/lendZonaLoop
Coming SoonOne-click looping to get leveraged price exposure, leveraged yield, or both, built on top of ZonaLend's infrastructure. Simply input your desired collateral, position size, and leverage - ZonaLoop handles the loop steps automatically.
Zona supports both RWAs and crypto-native assets. Asset listing depends on network support, liquidity, and oracle reliability.
Crypto Assets
Blue-chips (BTC, ETH, SOL), yield-stables (USDe, USDS, USDy), liquid staking tokens (LSTs), perpetual DEX LP positions (HYPE, GLV), and volatile assets including leading ecosystem memecoins.
RWA Assets
Treasuries, equities, ETFs, tokenized gold, commodities, real estate, and more.
Crypto-Native Landscape
The $150B+ Yield-Bearing Engine
In 2026, DeFi is no longer just about spot trading. It is powered by a massive layer of yield-bearing primitives. While RWAs are often "Idle Liquidity," crypto-native assets are "Locked Productivity"—they earn yield, but their capital is difficult to amplify without significant manual effort and risk.
The Complexity Tax
To maximize returns on a Perp LP or an LST, users must "loop" (deposit, borrow, buy more, repeat). This requires navigating 3+ protocols, paying multiple gas fees, and managing liquidation ratios across different UI dashboards. Currently, less than 5% of holders use these advanced strategies due to this "Complexity Tax."
Zona converts these complex multi-step loops into a one-click "Leveraged Yield Farm." Take your already-productive assets, like a GMX LP token, use them as collateral to borrow stables, and buy more of that same asset. All in one transaction, eliminating the manual complexity and gas inefficiencies.
RWA landscape
Over $17B in RWA TVL
RWAs have emerged as a key narrative in this market cycle, with over $17B in RWAs tokenized in the last three years (as of January 2026). U.S. Treasury Bills dominate the market, holding 75% market share with over $12B tokenized. Tokenized gold follows at $3B, while the remaining portion includes assets such as real estate, money market funds, and equities.
Source: DefiLlama (January 14, 2026). https://defillama.com/protocols/rwa
Almost all RWAs remain as idle assets
However, out of the $17B in tokenized RWAs, less than $100M (1%) have been able to achieve acceptance within the wider DeFi ecosystem. Most RWAs remain idle in user wallets, generating a steady 4-5% annual yield but lacking broader utility. The limited utility of onchain assets compared to their offchain counterparts discourages users from holding them onchain.
For example, with offchain real estate, owners can leverage 50% of the property's value as a loan from a bank via a traditional mortgage. In contrast, tokenized real estate lacks the necessary infrastructure for similar functions, such as accurate and frequent real estate oracles for pricing, severely limiting the sector's growth.