Denver, United States, June 18th, 2024, Chainwire
Renzo, the Liquid Restaking Protocol, at this time introduced $17M in funding. As of at this time, practically $4B is already restaked with Renzo. The funding, which passed off 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 turning into a core pillar for scaling safety on , nevertheless it’s difficult, dangerous and costly thus hindering person development. Renzo, constructed on EigenLayer, is being constructed to make restaking accessible and straightforward, and its new funding spherical will increase its restaking providers.
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 can be inclusive of all belongings, ETH and ERC-20’s, as twin staking adoption grows Renzo is constructing 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 different protocols by essentially constructing its system with restaking in thoughts, in distinction to conventional staking protocols which are merely adapting to restaking,” mentioned Will Nuelle, Normal Companion of Galaxy Ventures. “What units Renzo aside is its distinctive potential to simply accept each native ETH and Liquid Staking Tokens (LSTs). This functionality permits Renzo to foster collaboration with current market gamers and ensures a clean, user-friendly course of for members.”
About Renzo
Renzo is the restaking hub of EigenLayer constructed to streamline and increase entry to essentially 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 strong interface for threat administration and rewards monitoring on EigenLayer. With Renzo’s ezETH—essentially 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/
ContactContributorLukasz KozinskiRenzo LabsLucas@renzoprotocol.com
This text was initially printed on Chainwire
