Denver, USA, June 18, 2024, Chainwire
Liquid Restaking Protocol Renzo immediately introduced a $17 million funding spherical. As of immediately, Renzo has already restakeed almost $4 billion. The funding is available in two rounds, the primary led by Galaxy Ventures and the second by Nova Fund – BH Digital (primarily based in Abu Dhabi). This follows a earlier $3.2 million funding spherical through Maven11, Figment Capital and Binance Labs.
Restaking is shortly changing into a core pillar for scaling safety, however its complexity, threat and value have hindered consumer development. Constructed on EigenLayer, Renzo is constructed to make restakaging accessible and easy, and the brand new funding spherical will increase its restak providers.
Renzo serves as a safe and user-friendly interface into the EigenLayer ecosystem, securing AVS (Actively Validated Companies) and accessing restake rewards, whereas simplifying the method and enabling safe integration with node operators.
“Restaking consists of ETH and all ERC-20 belongings. As twin staking adoption grows, Renzo is constructing a settlement layer for restaking,” stated founding member Lukas Kosinski.
Renzo permits customers to deposit native ETH, stETH, and wBETH (LST) to entry EigenLayer. Renzo runs a decentralized Ethereum validator infrastructure powered by Figment, P2P.org, and Hashkey Cloud, permitting limitless participation in Eigenlayer.
With over 100 DeFi integrations, you possibly can entry it from Arbitrum, Base, Blast, Linea, Mode, and BNB Chain.
“Renzo differentiates itself from different protocols by constructing a system essentially with restakaging in thoughts, versus conventional staking protocols which are merely tailored to restakaging,” stated Will Nuel, basic companion at Galaxy Ventures. “What units Renzo aside is its distinctive capability to just accept each native ETH and Liquid Staking Tokens (LST). This characteristic permits Renzo to foster collaboration with current market gamers, guaranteeing a clean, user-friendly course of for individuals.”
About Renzo
Renzo is an EigenLayer restakage hub constructed to streamline and increase entry to essentially the most clever Liquid Restaking methods. Powered by institutional-grade node operators, Renzo abstracts the complexities of securing an Actively Verified Service (AVS) whereas offering a strong interface for threat administration and reward monitoring in EigenLayer. Renzo's ezETH, essentially the most built-in Liquid Restaking Token (LRT), permits customers to entry broader publicity to the EigenLayer (and Ethereum) ecosystem and earn extra rewards. Customers can earn extra rewards by visiting https://www.renzoprotocol.com/.
contactContributorLukas KosinskiRenzo Rabo[email protected]
This text was first printed on Chainwire
