Denver, United States, June 18, 2024, Chainwire
Renzo, the Liquid Restaking Protocol, at present introduced $17 million in funding. Thus far, nearly 4 billion {dollars} have already been guess with Renzo. The funding, which came about in two rounds, was first led by Galaxy Ventures and the second spherical led by Nova Fund – BH Digital (based mostly in Abu Dhabi). This follows $3.2 million in funding earlier by way of Maven11, Figment Capital and Binance Labs.
Restaking is quick changing into a mainstay for scaling safety on Ethereum, however it’s difficult, dangerous and costly, which hinders person progress. Constructed on EigenLayer, Renzo is constructed to make resacking inexpensive and straightforward, and its new spherical of funding will develop its resacking providers.
Renzo acts as a safe, user-friendly interface to the EigenLayer ecosystem, offering AVS (Energetic Validated Providers) and entry to resuming rewards, simplifying the method and enabling safe integration with node operators.
“Re-staking will embrace all property, ETH and ERC-20, as dual-staking adoption grows, Renzo is constructing a settlement layer for re-staking,” stated Lucas Kozinski, founding contributor.
Renzo permits customers to deposit native ETH, stETH and wBETH (LST) and acquire entry to EigenLayer. Renzo operates a distributed Ethereum validator infrastructure powered by Figment, P2P.org, and Hashkey Cloud that permits limitless Eigenlayer participation.
It’s accessible from Arbitrum, Base, Blast, Linea, Mode and BNB Chain with greater than 100 DeFi integrations.
“Renzo differentiates itself from different protocols by constructing its system from the bottom up with re-staking in thoughts, in contrast to conventional staking protocols that simply adapt to staking,” stated Will Nuelle, Common Associate of Galaxy Ventures. “What units Renzo aside is its distinctive potential to just accept each native ETH and Liquid Staking Tokens (LST). This functionality permits Renzo to help collaboration with present market gamers and ensures a easy, user-friendly course of for individuals.
About Renzo
Renzo is an EigenLayer restaking hub created to streamline and develop entry to essentially the most clever Liquid Restaking methods. Powered by institutional-grade node operators, Renzo removes the safety complexities of Actively Validated Providers (AVS) whereas offering a strong interface for danger administration and reward monitoring on EigenLayer. With Renzo's ezETH – essentially the most built-in Liquid Restaking Token (LRT) – customers have entry to broad publicity to the EigenLayer (and Ethereum) ecosystems with a number of reward technology alternatives. Use can earn extra if you go to https://www.renzoprotocol.com/
Contact
Contributor
Lukasz Kozinski
Renzo Labs
(electronic mail protected)
