Denver, United States, June 18, 2024, Chainwire
Renzo, the Liquid Reset Protocol, announced $17 million in funding today. As of today, almost $4 billion has already been bet on Renzo. The funding, which was carried out in two rounds, was first led by Galaxy Ventures and the second round led by Nova Fund – BH Digital (based in Abu Dhabi). This follows $3.2 million in previous funding through Maven11, Figment Capital, and Binance Labs.
Restoration is quickly becoming a critical pillar for expanding security in , but it is complicated, risky, and expensive, which hinders user growth. Built on EigenLayer, Renzo is being built to make recovery accessible and easy, and its new funding round will expand its recovery services.
Renzo acts as a secure and easy-to-use interface to the EigenLayer ecosystem, securing AVS (Actively Validated Services) and accessing recovery rewards while simplifying the process and enabling secure integrations with node operators.
“The resumption will include all assets, ETH and ERC-20, as dual staking adoption grows, Renzo is building the settlement layer for the resumption,” said founding contributor Lucas Kozinski.
Renzo allows users to deposit native ETH, stETH, and wBETH (LST) and gain access to EigenLayer. Renzo runs a distributed Ethereum validation infrastructure powered by Figment, P2P.org, and Hashkey Cloud to enable unrestricted participation in 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 recovery in mind, in contrast to traditional staking protocols that simply adapt to recovery,” said Will Nuelle, general partner at Galaxy Ventures. “What sets Renzo apart is its unique ability to accept both native ETH and Liquid Stake Tokens (LST). This capability allows Renzo to foster collaboration with existing market players and ensures a seamless and user-friendly process for participants.”
About Renzo
Renzo is EigenLayer's recovery center created to streamline and expand access to the smartest liquid recovery strategies. Powered by institutional-grade node operators, Renzo abstracts the complexities of securing Actively Validated Services (AVS) while offering a powerful interface for risk management and reward tracking in EigenLayer. With Renzo's ezETH, the most integrated liquid restoration token (LRT), users can access broad exposure to the EigenLayer (and Ethereum) ecosystems with more opportunities to generate rewards. Users can earn more by visiting
ContactTaxpayerLukasz KozinskiRenzo Laboratories[email protected]
This article was originally published on Chainwire.
