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

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

Renzo, the Liquid Restaking Protocol, right this moment introduced $17M in funding. As of right this moment, practically $4B is already restaked with Renzo. The funding, which befell 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 by way of Maven11, Figment Capital and Binance Labs.

Restaking is quickly changing into a core pillar for scaling safety on Ethereum, but it surely’s difficult, 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 broaden 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 shall be inclusive of all property, 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 basically constructing its system with restaking in thoughts, in distinction to conventional staking protocols which are merely adapting to restaking,” mentioned Will Nuelle, Basic Companion 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 current market gamers and ensures a easy, user-friendly course of for members.”

About Renzo

Renzo is the restaking hub of EigenLayer constructed to streamline and broaden entry to essentially 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 strong interface for danger 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/

Contact

Contributor
Lukasz Kozinski
Renzo Labs
[email protected]