Renzo Protocol

Renzo Protocol

Verified
The EigenLayer Liquid Restaking Hub. Learn more

Launch date
Employees
Market cap
-
Net debt
-
Enterprise valuation
$68—102m (Dealroom.co estimates Jun 2024.)
New York City New York (HQ)
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round
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round
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$17.0m

Series A
Total Funding000k

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Renzo Protocol is a pioneering startup in the decentralized finance (DeFi) sector, specifically focusing on the Ethereum blockchain. The company operates as a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer, a platform designed to enhance the security and yield of Ethereum staking. Renzo's primary mission is to simplify the process of restaking Ethereum (ETH) and other liquid staking tokens (LSTs) like stETH and wBETH, making it accessible and profitable for users.

Renzo serves individual Ethereum holders and institutional investors who are looking to maximize their staking rewards. By leveraging EigenLayer, Renzo allows these clients to stake their ETH and secure Actively Validated Services (AVSs), which are additional services that generate extra rewards on top of the usual staking returns. This dual-reward system offers a higher yield compared to traditional ETH staking.

Operating in the rapidly growing DeFi market, Renzo's business model revolves around facilitating seamless interaction between end-users and EigenLayer node operators. The protocol abstracts all the technical complexities, enabling users to easily deposit their ETH or LSTs and start earning rewards. Renzo makes money by taking a small fee from the staking rewards generated through its platform.

In summary, Renzo Protocol is a user-friendly gateway to enhanced Ethereum staking, offering higher yields through the innovative concept of restaking. It simplifies the staking process, making it more accessible to a broader audience, and promotes the widespread adoption of EigenLayer.

Keywords: DeFi, Ethereum, staking, restaking, EigenLayer, liquid staking tokens, ETH, stETH, wBETH, yield.