Renzo, the $4b Liquid Restaking Protocol, Raises $17M to Develop Restaking Companies

Denver, United States, June 18th, 2024, Chainwire

Renzo, the Liquid Restaking Protocol, right now introduced $17M in funding. As of right now, practically $4B is already restaked with Renzo. The funding, which happened throughout two rounds, was first led by Galaxy Ventures and the second spherical led by the Nova Fund – BH Digital (based mostly in Abu Dhabi). This follows $3.2m of funding beforehand through Maven11, Figment Capital and Binance Labs.

Restaking is quickly turning into a core pillar for scaling safety on , but it surely’s sophisticated, dangerous and costly thus hindering person progress. 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 Companies) and accessing restaking rewards whereas simplifying the method and permitting for safe integrations with node operators.

“Restaking might be inclusive of all belongings, ETH and ERC-20’s, as twin staking adoption grows Renzo is constructing the settlement layer for restaking,” stated 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 basically constructing its system with restaking in thoughts, in distinction to conventional staking protocols which are merely adapting to restaking,” stated Will Nuelle, Common Associate of Galaxy Ventures. “What units Renzo aside is its distinctive skill to simply accept each native ETH and Liquid Staking Tokens (LSTs). This functionality permits Renzo to foster collaboration with present market gamers and ensures a easy, user-friendly course of for contributors.”

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 Companies (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/

ContactContributorLukasz KozinskiRenzo LabsLucas@renzoprotocol.com

This text was initially printed on Chainwire