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

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

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
[email protected]