Denver, USA, June 18th, 2024, Chainwire – Renzo, the innovative Liquid Restaking Protocol, has announced a significant $17 million in funding. To date, Renzo has successfully restaked close to $4 billion. The funding rounds were led by Galaxy Ventures in the first round and Nova Fund – BH Digital (based in Abu Dhabi) in the second round, following a previous $3.2 million in funding from Maven11, Figment Capital, and Binance Labs.
Restaking is quickly becoming a crucial component for enhancing security on Ethereum, but the process is complex, risky, and costly, which hinders user adoption. Renzo, developed on EigenLayer, aims to simplify and make restaking more accessible. The latest funding injection will help expand its restaking services.
Renzo serves as a secure and user-friendly gateway to the EigenLayer ecosystem, ensuring the security of Actively Validated Services (AVS) and facilitating restaking rewards. It streamlines the process and allows secure integrations with node operators.
Lucas Kozinski, Founding Contributor, stated, “As dual staking adoption grows, Renzo is establishing itself as the go-to settlement layer for restaking, making it inclusive of all assets, including ETH and ERC-20’s.”
Renzo enables users to deposit native ETH, stETH, and wBETH (LSTs) to access EigenLayer. Renzo’s distributed Ethereum validator infrastructure, powered by Figment, P2P.org, and Hashkey Cloud, ensures unrestricted participation on Eigenlayer. It is integrated with Arbitrum, Base, Blast, Linea, Mode, and BNB Chain, with over 100 DeFi integrations available.
Will Nuelle, General Partner of Galaxy Ventures, highlighted Renzo’s unique approach to restaking, stating, “Renzo stands out by designing its system with restaking as a core feature, unlike traditional staking protocols that are simply adapting to restaking trends.” Renzo’s ability to accept both native ETH and Liquid Staking Tokens (LSTs) facilitates collaboration with existing market players and ensures a seamless, user-friendly experience for participants.
About Renzo:
Renzo serves as the central hub for Liquid Restaking strategies on EigenLayer, offering streamlined access to intelligent restaking solutions. Powered by institutional-grade node operators, Renzo simplifies the process of securing Actively Validated Services (AVS) while providing a robust interface for risk management and rewards tracking on EigenLayer. With Renzo’s ezETH—the leading Liquid Restaking Token (LRT)—users can gain broad exposure to the EigenLayer and Ethereum ecosystems, with increased opportunities to earn rewards. For more information, visit https://www.renzoprotocol.com/
Contact:
Lukasz Kozinski
Contributor
Renzo Labs
[email protected]
