Main navigation

Renzo, the $4b Liquid Restaking Protocol, Raises $17M to Expand Restaking Services

Advertisement
Tue, 18/06/2024 - 18:44
Renzo, the $4b Liquid Restaking Protocol, Raises $17M to Expand Restaking Services
The cover image and all the rights belong to the client ordering given press release
Read U.TODAY on
Google News

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

Advertisement

Renzo, the Liquid Restaking Protocol, today announced $17M in funding. As of today, nearly $4B is already restaked with Renzo. The funding, which took place across two rounds, was first led by Galaxy Ventures and the second round led by the Nova Fund – BH Digital (based in Abu Dhabi). This follows $3.2m of funding previously via Maven11, Figment Capital and Binance Labs. 

Restaking is rapidly becoming a core pillar for scaling security on Ethereum, but it's complicated, risky and expensive thus hindering user growth. Renzo, built on EigenLayer, is being built to make restaking accessible and easy, and its new funding round will expand its restaking services.

Renzo acts as a secure user-friendly interface to the EigenLayer ecosystem, securing AVS (Actively Validated Services) and accessing restaking rewards while simplifying the process and allowing for secure integrations with node operators.

“Restaking will be inclusive of all assets, ETH and ERC-20’s, as dual staking adoption grows Renzo is building the settlement layer for restaking,” said Lucas Kozinski, Founding Contributor.

Renzo allows users to deposit native ETH, stETH and wBETH (LSTs) and get access to EigenLayer. Renzo runs a distributed Ethereum validator infrastructure powered by Figment, P2P.org and Hashkey Cloud to enable unrestricted participation on Eigenlayer.

It is accessible from Arbitrum, Base, Blast, Linea, Mode and BNB Chain with over 100 DeFi integrations.  

“Renzo differentiates itself from other protocols by fundamentally building its system with restaking in mind, in contrast to traditional staking protocols that are merely adapting to restaking,” said Will Nuelle, General Partner of Galaxy Ventures. “What sets Renzo apart is its unique ability to accept both native ETH and Liquid Staking Tokens (LSTs). This capability allows Renzo to foster collaboration with existing market players and ensures a smooth, user-friendly process for participants.”

About Renzo

Renzo is the restaking hub of EigenLayer built to streamline and expand access to the most intelligent Liquid Restaking strategies. Powered by institutional-grade node operators, Renzo abstracts away the complexities of securing Actively Validated Services (AVS) while delivering a powerful interface for risk management and rewards tracking on EigenLayer. With Renzo’s ezETH—the most integrated Liquid Restaking Token (LRT)—users can access broad exposure to the EigenLayer (and Ethereum) ecosystems with more opportunities to generate rewards. Uses can earn more by visiting https://www.renzoprotocol.com/


Contact
Contributor
Lukasz Kozinski
Renzo Labs
Lucas@renzoprotocol.com

Company details

Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD