Renzo Secures $3.2 Million in Funding to Advance Liquid Restaking on EigenLayer

FinanceFeeds Editorial Team

Renzo, a DeFi protocol, has successfully raised $3.2 million in a seed funding round supported by prominent cryptocurrency-focused funds. This investment will be directed towards the development of Renzo’s liquid restaking protocol, which has recently become operational on EigenLayer.

The seed round, spearheaded by Maven11, also included additional investments from entities like Figment Capital, SevenX, IOSG, and Paper Ventures. The funding comes at a time when the demand for liquid restaking on EigenLayer has reached unprecedented levels. Since its launch in late December, Renzo has attracted over 2,000 users who have collectively deposited $20 million worth of ETH (equivalent to approximately 9,000 ETH) into the protocol.

Lucas Kozinski, a founding member of Renzo, expressed enthusiasm about the new investors, stating, “It’s a pleasure to welcome so many distinguished investors who share our vision of making restaking accessible to everyone. With their support we will make Renzo the most reliable on/off ramp for Ethereum restaking, building upon the new capabilities offered by EigenLayer.”

Balder Bomans, Founder and Managing Partner at Maven11, commented on the investment: “Renzo’s focus on security, risk mitigation and open finance is, in our view, the best way to tackle a liquid and decentralized governance procedure for picking Actively Validated Services (AVS) on Eigenlayer. Renzo delivers risk-adjusted strategies and liquid representations while providing security to restakers.”

Renzo’s protocol, which combines smart contracts and operator nodes, offers automated liquid restaking strategies on EigenLayer. This setup simplifies liquidity management and enables users to participate in Ethereum staking and explore additional restaking opportunities. Renzo allows for the restaking of ETH and Liquid Staking Tokens (LSTs), which can then be used as collateral in DeFi to earn compounded rewards.

Aiming to promote decentralization, Renzo plans to implement a DAO for overseeing operators, AVS restaking strategies, and protocol parameters. Future updates will introduce cross-chain restaking support, integration with lending markets, liquidity aggregators, and vault products, focusing particularly on institutional on/off ramps.

Renzo has introduced ezETH, a restaked ETH position token that users can mint by depositing LSTs or ETH into the platform’s contracts. This fully-backed ERC20 token can be utilized across the DeFi ecosystem to generate rewards in ETH, USDC, and AVS tokens, akin to cbETH and rETH.

  • Read this next

    Institutional FX

    Intercontinental Exchange reinvents voice trading with ICE Voice

    “For the first time, ICE’s users will have a single, integrated platform for chat and voice that matches both traders’ need for always-on, instantaneous connectivity with other traders, and firms’ desire for easy-to-access and use records that help them meet their record retention requirements.”


    Duco launches EMIR-compliant transaction reporting eligibility validator

    “With Duco’s transaction reporting eligibility validator, customers can run independent checks whenever they want, get results in minutes, and access a clear audit trail. The solution provides insights at a field-by-field level so clients can see specific issues, discuss, and show ESMA they are considering discrepancies at a deep level.”

    Digital Assets

    Bybit’s trading volume near all-time high ahead of Bitcoin halving

    “Now, we’re seeing large inflows and smart money is moving fast. With the Bitcoin halving just around the corner, Bitcoin is proving itself as an institutional asset, a hedge against economic uncertainty, and a vote for financial freedom.”

    Digital Assets

    Morgan Stanley to add spot bitcoin ETFs

    Morgan Stanley is reportedly considering adding spot bitcoin ETF products to its brokerage platform. This move comes after the Securities and Exchange Commission (SEC) approved the investment vehicle in January.

    Digital Assets

    Hong Kong ends license applications for crypto exchanges

    Hong Kong has officially ceased accepting license applications from cryptocurrency exchanges as of February 29, signaling a stringent regulatory shift.


    Volt secures EMI license, expands payment solutions in UK

    Volt has successfully obtained an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA).

    Retail FX

    ASIC bankrupts finfluencer Tyson Scholz over stock tips

    The Australian Securities and Investments Commission (ASIC) has effectively bankrupted Tyson Robert Scholz, the figure behind “Black Wolf Pit.” The action marks a significant crackdown on so-called ‘finfluencers’ and individuals providing unlicensed financial services.

    Digital Assets

    Green Bitcoin Presale Raises $1M as Bitcoin Approaches its ATH

    The eco-friendly crypto project Green Bitcoin has seen its limited-time presale phase cross $1 million in funding. With an innovative gamified staking model and energy-efficient foundation, Green Bitcoin offers token holders a way to stake their tokens and generate yield.


    Introducing QuickNode Streams: Elevating Blockchain Data Management

    Discover QuickNode’s Latest Innovation: Streamlining Blockchain Data Streaming for Enhanced Efficiency and Accessibility. Explore the Future of Blockchain Technology with Streams.