Renzo groups up with Jito to launch LRT token ezSOL

• Renzo Protocol revealed its ezSOL liquid restaking token will quickly launch on Jito as Solana’s first LRT.
• The Renzo group is eyeing progress for the DeFi ecosystem on Solana.

Renzo Protocol has introduced the launch of ezSOL, the primary liquid restaking token (LRT) on Solana.

The collaboration between Renzo and Jito Community will enable JitoSOL holders to mint ezSOL and use the LRT to faucet into extra decentralised finance (DeFi) alternatives on Solana.

ezSOL will mix Renzo’s liquid restaking experience with Jito’s MEV-enhanced options to deliver the perfect of decentralised finance and different incomes mechanisms to customers.

🚀 Introducing $ezSOL: The primary LRT on @jito_sol

Renzo Protocol is launching $ezSOL, Solana’s first LRT on the Jito Community. That is set to rework restaking and DeFi on Solana by combining the ability of Renzo’s liquid restaking with Jito’s MEV-enhanced validators.

Dive in… pic.twitter.com/VUiKHndqZS

— Renzo (@RenzoProtocol) August 14, 2024

 “The launch of $ezSOL marks a pivotal second for Solana’s DeFi ecosystem. $ezSOL not solely bolsters liquidity but additionally unlocks new methods for capital effectivity,” Renzo posted on X.

With ezSOL, customers can entry DeFi protocols reminiscent of lending platforms, automated market makers and aggregators. This implies one can faucet into new alternatives whereas retaining the advantages accessible with restaking. 

ezETH proposal

In the meantime, Renzo’s vote on the proposal to record ezETH on Aave V3 Lido Finance Occasion. The proposal seeks so as to add help for borrow/lend for Renzo and its ezETH as collateral on Aave V3.

Voting is reside for Renzo’s proposal to record $ezETH to the @aave V3 @LidoFinance Occasion!

By including $ezETH as collateral, Renzo can drive extra demand, enhance revenues for each Aave and Renzo, and strengthen the liquidity and stability of $ezETH.

This transfer will make $wstETH…

— Renzo (@RenzoProtocol) August 14, 2024

If the neighborhood adopts the proposal, ezETH will go reside on the blockchain platform and sure enhance the general income throughout Aave and Renzo. The event additionally signifies that wstETH borrowing is now very enticing.