Renzo is a Liquid Restaking Token (LRT) and Strategy Manager within the EigenLayer ecosystem, simplifying high-yield ETH staking by managing complexities involved with node operators and reward strategies. Users engage with the platform by depositing ETH or LSTs and receiving ezETH, a token that accrues value through rewards in ETH, USDC, and AVS tokens. This design allows users to gain from increased rewards without direct involvement in the operational challenges. Currently, Renzo lacks a formal governance structure, leaving strategic decisions to the development team. The protocol recently secured $3.2 million in seed funding.
Value Proposition:
Renzo is a LRT and Strategy Manager for EigenLayer. It is the interface to the EigenLayer ecosystem, securing Actively Validated Services (AVSs) and offering a higher yield than ETH staking. The protocol abstracts all complexity from the end-user and enables easy collaboration between them and EigenLayer node operators. Renzo abstracts away the complex process of selecting and managing EigenLayer node operators and reward strategies, allowing users to easily participate in restaking without having to worry about these technical details.
Governance:
Renzo protocol currently does not have a formal governance structure in place.
Tokenomics:
ezETH is the liquid restaking token representing a user’s restaked position at Renzo. Users can deposit native ETH or LSTs and receive ezETH. ezETH is a reward-bearing token, that captures earnings from its underlying restaking positions. When you hold ezETH, you benefit from rewards in ETH, USDC, and Actively Validated Services (AVS) tokens, which cause the value of ezETH to rise relative to the underlying LSTs as more AVS rewards are accrued.
Previous Funding:
Renzo Protocol has raised $3.2 million in a seed funding round. Maven11 Capital led the round, with Figment Capital, SevenX Ventures, IOSG Ventures, and several other investors participating, Renzo said Monday.
