Denver, United States, June 18th, 2024, Chainwire
Renzo, the Liquid Restaking Protocol, at the moment introduced $17M in funding. As of at the moment, almost $4B is already restaked with Renzo. The funding, which occurred throughout two rounds, was first led by Galaxy Ventures and the second spherical led by the Nova Fund – BH Digital (primarily based in Abu Dhabi). This follows $3.2m of funding beforehand by way of Maven11, Figment Capital and Binance Labs.
Restaking is quickly changing into a core pillar for scaling safety on Ethereum, however it’s sophisticated, dangerous and costly thus hindering consumer development. Renzo, constructed on EigenLayer, is being constructed to make restaking accessible and straightforward, and its new funding spherical will increase its restaking companies.
Renzo acts as a safe user-friendly interface to the EigenLayer ecosystem, securing AVS (Actively Validated Providers) and accessing restaking rewards whereas simplifying the method and permitting for safe integrations with node operators.
“Restaking will be inclusive of all assets, ETH and ERC-20’s, as dual staking adoption grows Renzo is building the settlement layer for restaking,” mentioned Lucas Kozinski, Founding Contributor.
Renzo permits customers to deposit native ETH, stETH and wBETH (LSTs) and get entry to EigenLayer. Renzo runs a distributed Ethereum validator infrastructure powered by Figment, P2P.org and Hashkey Cloud to allow unrestricted participation on Eigenlayer.
It’s accessible from Arbitrum, Base, Blast, Linea, Mode and BNB Chain with over 100 DeFi integrations.
“Renzo differentiates itself from other protocols by fundamentally building its system with restaking in mind, in contrast to traditional staking protocols that are merely adapting to restaking,” mentioned Will Nuelle, Normal Accomplice of Galaxy Ventures. “What sets Renzo apart is its unique ability to accept both native ETH and Liquid Staking Tokens (LSTs). This capability allows Renzo to foster collaboration with existing market players and ensures a smooth, user-friendly process for participants.”
About Renzo
Renzo is the restaking hub of EigenLayer constructed to streamline and increase entry to probably the most clever Liquid Restaking methods. Powered by institutional-grade node operators, Renzo abstracts away the complexities of securing Actively Validated Providers (AVS) whereas delivering a robust interface for threat administration and rewards monitoring on EigenLayer. With Renzo’s ezETH—probably the most built-in Liquid Restaking Token (LRT)—customers can entry broad publicity to the EigenLayer (and Ethereum) ecosystems with extra alternatives to generate rewards. Makes use of can earn extra by visiting https://www.renzoprotocol.com/
Contact
Contributor
Lukasz Kozinski
Renzo Labs
[email protected]