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Buy ZEPH, keep it in your own Zephyr wallet, then put it to work.

  1. On an exchange

    Buy ZEPH

    ZEPH, short for Zephyr, is the protocol's own mined coin. Every other Zephyr asset starts with it, and buying it works whatever the Reserve is doing. Make an account on an exchange, deposit USDT, then buy ZEPH on the ZEPH/USDT market.

    No crypto yet? MEXC sells USDT for a bank transfer, and XT for a card, once you've passed their ID check. NonKYC doesn't sell crypto for cards: buy USDT elsewhere first and send it in.

    Availability varies by country. Check each exchange's terms.

  2. In your wallet

    Get the wallet

    Withdraw your ZEPH to a Zephyr wallet that only you control. Coins left on an exchange are in the exchange's hands. In your own wallet, only you can move them.

    Open the web wallet Downloadable wallets
    • Write down your seed phrase and keep it offline. It's the only way to recover the wallet.
    • Never share it. Nobody who asks for it is real support.
    • Send a small test withdrawal first, then the rest.
  3. In your wallet

    Get ZSD

    ZSD, the Zephyr Stable Dollar, is Zephyr's private dollar. You get it by converting the ZEPH you hold, right in the wallet.

    Convert ZEPH in the wallet

    Open now

    Your ZEPH is locked in the Reserve and you receive ZSD worth the same in dollars, less a 0.1% fee. Swapping to ZSD does not impact the market price of ZEPH.

    Today

    Convert ZEPH to ZSD in the wallet, then stake it as ZYS.
    It earns from the next block.

  4. In your wallet

    Stake ZSD as ZYS

    In the wallet, convert ZSD to ZYS. ZYS, the Zephyr Yield Share, is your share of the Yield Reserve, which collects a share of every block's mining reward, so each ZYS becomes worth more ZSD over time.

    ZYS APY today
    —
    1 ZYS is worth
    —
    Fee, each way
    0.1%
    Lock-up
    None

    To leave, convert ZYS back to ZSD in one step: there's no lock-up period. The APY is variable: it follows ZEPH's price. How the yield works

  5. In your wallet

    Hold ZRS, the Reserve's equity

    ZRS, the Zephyr Reserve Share, owns what the Reserve holds beyond what every ZSD is owed. You get it by converting ZEPH in the wallet, the same way as ZSD. It earns from the conversion fees that stay in the Reserve, and its price moves further than ZEPH's, both ways.

    Convert ZEPH to ZRS in the wallet

    Checking…

    New ZRS can be minted while the Reserve holds under 8× all ZSD, and redeemed for ZEPH while it holds 4× or more.

    Fee, each way
    1%
    Mint below
    8×
    Redeem from
    4×

    ZRS takes a fall in ZEPH first, so ZSD holders don't. Highest risk, highest reward. Model ZRS in the Simulator

Before you put money in Risks & rules The four lines on the Reserve that decide what the protocol allows, and everything that can still go wrong, in plain words.