Denver, United States, June 18th, 2024, Chainwire
Renzo, the Liquid Restaking Protocol, lately introduced $17M in investment. As of lately, just about $4B is already restaked with Renzo. The investment, which came about throughout two rounds, was once first led via Galaxy Ventures and the second one spherical led via the Nova Fund – BH Virtual (based totally in Abu Dhabi). This follows $3.2m of investment prior to now by means of Maven11, Figment Capital and Binance Labs.
Restaking is swiftly turning into a core pillar for scaling safety on Ethereum, but it surely’s sophisticated, dangerous and costly thus hindering consumer enlargement. Renzo, constructed on EigenLayer, is being constructed to make restaking available and simple, and its new investment spherical will make bigger its restaking services and products.
Renzo acts as a protected user-friendly interface to the EigenLayer ecosystem, securing AVS (Actively Validated Products and services) and getting access to restaking rewards whilst simplifying the method and taking into consideration protected integrations with node operators.
“Restaking can be inclusive of all property, ETH and ERC-20’s, as twin staking adoption grows Renzo is development the agreement layer for restaking,” mentioned Lucas Kozinski, Founding Contributor.
Renzo permits customers to deposit local ETH, stETH and wBETH (LSTs) and get get entry to to EigenLayer. Renzo runs a dispensed Ethereum validator infrastructure powered via Figment, P2P.org and Hashkey Cloud to allow unrestricted participation on Eigenlayer.
It’s available from Arbitrum, Base, Blast, Linea, Mode and BNB Chain with over 100 DeFi integrations.
“Renzo differentiates itself from different protocols via basically development its machine with restaking in thoughts, against this to standard staking protocols which can be simply adapting to restaking,” mentioned Will Nuelle, Basic Spouse of Galaxy Ventures. “What units Renzo aside is its distinctive talent to just accept each local ETH and Liquid Staking Tokens (LSTs). This capacity permits Renzo to foster collaboration with current marketplace avid gamers and guarantees a clean, user-friendly procedure for members.”
About Renzo
Renzo is the restaking hub of EigenLayer constructed to streamline and make bigger get entry to to essentially the most clever Liquid Restaking methods. Powered via institutional-grade node operators, Renzo abstracts away the complexities of securing Actively Validated Products and services (AVS) whilst turning in a formidable interface for chance control and rewards monitoring on EigenLayer. With Renzo’s ezETH—essentially the most built-in Liquid Restaking Token (LRT)—customers can get entry to vast publicity to the EigenLayer (and Ethereum) ecosystems with extra alternatives to generate rewards. Makes use of can earn extra via visiting https://www.renzoprotocol.com/
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Contributor
Lukasz Kozinski
Renzo Labs
[email protected]