What is Renzo Protocol? LRT Project on EigenLayer

Explore the innovative world of Renzo Protocol, a cutting-edge Liquid Restaking Token (LRT) and Strategy Manager designed for EigenLayer.

What Is Renzo Protocol? Lrt Project On Eigenlayer_65d5d0c0c8a0f.webp

What is Renzo Protocol?

Renzo Protocol is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. It serves as the gateway to the EigenLayer ecosystem, ensuring the security of Verified Operational Services (AVSs) and providing higher yields compared to staking ETH.

This protocol simplifies complexity for end-users and fosters easy collaboration between them and EigenLayer node managers. Renzo enjoys strong support from EigenLayer, aiming to facilitate permissionless innovation on Ethereum while promoting widespread adoption of EigenLayer.

How does Renzo Protocol operate?

For each LST or ETH deposited into Renzo, it issues an equivalent amount of ezETH. ezETH is a flexible staking token representing the user’s restaked position at Renzo Protocol. Users can deposit stETH, rETH, cbETH, or native ETH and receive corresponding ezETH.

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Renzo Protocol is built to serve as the primary gateway for converting between Ethereum and restaking ETH, using a combination of smart contracts and operational nodes to safeguard the best staking strategy with risk/reward considerations.

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Token Overview

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Development Roadmap

Renzo’s beta mainnet was deployed on December 18, 2023. The application allows users to send native ETH and access EigenLayer Restaked Points without being restricted by LST caps.

Transfers – ezETH transfers will be launched in January 2024.

Withdraw – may be utilized in Q1 2024.

Related: Guide to Participating in Eigen Layer Testnet Airdrop Phase 2

Development Team

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Investors and Partners

Investors and Partners renzo protocol

The project successfully raised $3.2 million in seed funding. Notable investors include prominent names in the crypto market such as OKX Ventures, Figment Capital, …

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