What Is ZEROBASE (ZBT)? How It Works, Tokenomics and Risks

ZEROBASE is a decentralized cryptographic infrastructure network that uses zero-knowledge proofs (ZKPs) and trusted execution environments (TEEs) to verify computation carried out off-chain. Its native token, ZBT, circulates on Base, BNB Chain, and Ethereum, with a ZBTUSDT futures contract listed on Binance. The project builds products called zkStaking, zkLogin, and ProofYield aimed at bridging institutional DeFi, user privacy, and real-world asset strategies.

ZBT at a glance

As of October 25, 2026:

The problem it tries to solve

Many DeFi and institutional finance applications need heavy computation that is too slow or expensive to run directly on-chain, such as verifying trading strategies, calculating yield, or handling user logins. Moving that computation off-chain creates a trust problem: how do users know the result is correct and the data wasn't tampered with, without simply trusting the server operator.

ZEROBASE positions itself as an answer to that problem. By combining ZKPs and TEEs, the project claims it can mathematically prove that an off-chain computation ran correctly without exposing the sensitive data behind it. That matters for institutions that need compliance but also don't want to leak client data or trading strategies.

How ZEROBASE works

A zero-knowledge proof is a cryptographic technique that lets one party prove a statement is true without revealing the underlying data. A trusted execution environment is an isolated hardware-level computing environment designed so processes inside it can't be inspected or altered by outside parties, including the server's own owner. ZEROBASE combines both to build what it calls a cryptographic trust layer for global finance.

On top of this infrastructure, ZEROBASE builds several products. zkLogin provides privacy-preserving user authentication. zkStaking is described as the first verifiable CeDeFi staking mechanism, blending centralized and decentralized finance models. ProofYield is the most specific product: ZK-powered stablecoin staking that promises risk-neutral returns through autonomous arbitrage strategies, a pattern similar to basis trading used by other projects in the CeDeFi space.

On the research side, ZEROBASE published joint findings with AntChain OpenLabs titled "GPUs Are Not the Answer", highlighting a hardware approach to efficient and scalable ZK proof generation. The project also presented at ETHCC to introduce what it calls consumer-level zero-knowledge infrastructure.

What ZBT is used for

The official sources reviewed don't explicitly break down governance rights, protocol fee sharing, or a staking mechanism for the ZBT token itself. What is documented is that ZBT serves as the native token of the ZEROBASE ecosystem and has been used in incentive campaigns, including a $15,000 reward program and a campaign called the Guinness Challenge Campaign.

In secondary markets, ZBT trades on Binance through the ZBTUSDT futures contract, and the token is available across three networks: Base, BNB Chain, and Ethereum. This multi-chain availability is typically used by projects to avoid locking liquidity and access into a single ecosystem.

ZBT tokenomics

ZBT's total supply and max supply are both 1.00 billion tokens, meaning there is no new token minting beyond this cap based on CoinGecko's data. Of that, only 327.08 million tokens, or about 32.7%, are currently in circulation as of October 25, 2026.

The gap between the $22.19 million market cap and the $67.86 million fully diluted valuation (FDV) shows roughly 67.3% of supply remains locked or unreleased. Details on allocation to team, investors, community, or the vesting schedule haven't been publicly disclosed in the official sources checked. Anyone tracking ZBT should watch for official announcements on future unlock schedules, since a wide gap between FDV and market cap like this is typically treated as an added risk factor.

Team, funding and brief history

ZEROBASE has announced raising $5 million to build a privacy-preserving prover network, according to a publication title on its official site. The names of investors or who led this funding round aren't disclosed in the sources checked.

The project ran a beta launch campaign that, according to a Korean-language post on its site, surpassed $300,000 in TVL. ZEROBASE also presented at ETHCC to introduce zero-knowledge infrastructure it claims is ready for consumer-level use, and published joint research with AntChain OpenLabs on generating ZK proofs without relying fully on GPUs. The project's source code is published on GitHub under the organization ZeroBase-Pro, and its official X account is @zerobasezk. Named founders or core team members aren't specified in the sources checked.

Market and on-chain data

As of October 25, 2026, ZBT trades at $0.06784 on CoinGecko with a market cap of $22.19 million, ranking #779 by market capitalization. 24-hour trading volume stands at $12.60 million. Over the past 30 days the price fell 22.4%, and over the past year it dropped 74.6%. ZBT's all-time high was $1.0250, reached on October 17, 2025, meaning the current price is down more than 90% from its peak.

On the protocol side, DefiLlama records ZEROBASE CeDeFi's total value locked (TVL) at $60.9 million, down a slight 0.1% over the past week. The protocol is categorized under Basis Trading, a strategy that exploits price gaps between spot and futures markets to generate relatively stable yield. This TVL is spread across seven chains: Binance, Ethereum, Base, Arbitrum, Optimism, Polygon, and Avalanche. That $60.9 million TVL dwarfs ZBT's own $22.19 million market cap, so funds managed in ProofYield or zkStaking don't automatically translate into token price support.

On Binance Futures, the ZBTUSDT contract trades at $0.06762, down 5.68% over 24 hours on $25.6 million in volume. The latest funding rate stands at 0.0050% per period. Funding rate is a periodic fee paid between long and short traders in perpetual futures markets; a small positive number like this means long position holders pay a little to shorts, signaling fairly neutral sentiment with a slight bias toward longs.

Open interest, the total value of outstanding futures contracts, for ZBTUSDT is $2.7 million, down 21.3% over 30 days. That decline typically signals traders cutting positions or deleveraging rather than adding fresh exposure. On positioning, 60% of accounts on Binance Futures hold long positions, showing most active traders still expect prices to rise even as both the 30-day and 90-day price trends remain negative, at -25.8% and -40.6% respectively.

Competitors

TVL, market cap, or other metrics for Ethena and Automata Network aren't available in the sources checked, so the comparison above only highlights differences in product focus.

ZBT risks

A few risks worth watching for ZBT holders or prospective holders:

• High volatility: price has corrected 74.6% over the past year and more than 90% from its $1.0250 ATH, a common pattern among small-cap ZK and CeDeFi tokens.
• Large uncirculated supply: FDV of $67.86 million sits well above the $22.19 million market cap, while the future unlock schedule hasn't been disclosed in official sources, which could add selling pressure once unlocks happen.
• Small market cap and thin liquidity: a #779 market cap ranking makes ZBT susceptible to sharp price swings from relatively small trades.
• Shrinking open interest: futures OI is down 21.3% over 30 days, suggesting fading leveraged trading interest, which could mean thinner futures market liquidity ahead.
• Reliance on TEEs: a TEE-based approach carries trust assumptions tied to hardware manufacturers, a general risk applicable to any TEE-based project, not unique to ZEROBASE.
• Regulatory risk: products aimed at institutions, compliance, and real-world assets could face tighter regulatory scrutiny across jurisdictions.
• Limited team and tokenomics transparency: founder names, team or investor allocations, and vesting schedules aren't available in the sources checked, making it hard to fully assess ownership concentration risk.

How to buy and trade ZBT in Indonesia

ZBT can be traded on Binance through the ZBTUSDT futures contract, and the token also circulates on Base, BNB Chain, and Ethereum for spot or DeFi use. In Indonesia, crypto asset trading is supervised by OJK, so transactions should ideally go through officially registered exchanges.

For those trading via futures, leverage magnifies both potential gains and losses. With open interest still small at $2.7 million against $25.6 million in daily ZBTUSDT volume, price moves can be sharp over short periods, making position sizing and stop losses worth considering before opening a leveraged trade.

What it means for traders

A few concrete things to watch going forward: first, the trajectory of funding rate and open interest on Binance's ZBTUSDT futures, since a continuously shrinking OI usually signals weakening market interest. Second, the long/short account ratio, currently 60% long, where shifts could flag changes in short-term sentiment.

Third, the trend of ZEROBASE CeDeFi's TVL on DefiLlama, currently $60.9 million, as a gauge of real activity in ProofYield and zkStaking that may not move in lockstep with the token's price. Fourth, official announcements on token unlock schedules given the wide gap between FDV and market cap. Fifth, the price level relative to the $1.0250 ATH along with the still-negative 30-day and 90-day trends, as a reference point for where the token sits in its current correction cycle.