Categories: Press Releases

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
Lucas@renzoprotocol.com

chainwire

Recent Posts

Dtec Announces Global Partnership with DİZAYNVIP to Elevate AI-Driven Mobility Design  

Dtec and DİZAYNVIP partner to merge AI technology with luxury vehicle design, revolutionizing smart mobility…

22 mins ago

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

4 hours ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

7 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

9 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

10 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

13 hours ago

This website uses cookies.