Skip to content

Press Releases are sponsored content and not a part of Finbold's editorial content. For a full disclaimer, please click here. Crypto assets/products can be highly risky. Never invest unless you’re prepared to lose all the money you invest.

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

Press Releases

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]

Disclaimer

This post is sponsored. Finbold neither endorses nor takes responsibility for the accuracy, quality, advertising, products, or other materials on this page. Readers are strongly encouraged to perform their own research before making any decisions regarding the company. Finbold will not be held accountable, either directly or indirectly, for any harm or loss that may stem from or be linked to the usage or reliance on any information, goods, or services mentioned on the page. If you encounter any issues, kindly report them to [email protected].

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.