Binance Supports Renzo Project
Binance Labs, a part of Binance that helps new projects, has put money into Renzo. Renzo is a special kind of technology for Ethereum called a liquid restaking protocol. It uses EigenLayer technology. Binance Labs gave Renzo some money, but we don't know exactly how much. This comes after Renzo got $3.2 million from other investors, making the whole company worth $25 million. Lucas Kozinski, one of the people who started Renzo, said that Binance Labs' investment is kind of like the earlier money they got, which included both ownership and a type of token.
Renzo is now Binance Labs' second big project connected to restaking on Ethereum. Renzo works using smart contracts on Ethereum. It helps people who want to stake, the folks running the computers (called nodes), and some special services all work together.
Big Investment in EigenLayer by A16z
Another big company, Andreessen Horowitz (often called a16z), put a lot of money into EigenLayer. They gave $100 million to EigenLayer. In this case, a16z was the only company giving money, according to a news report. Before this, EigenLayer had already gotten $50 million in March, led by Blockchain Capital. EigenLayer started in 2021 and has become the top restaking protocol on Ethereum when you look at the total value of things locked up in it (TVL).
EigenLayer helps people who check and validate transactions (called validators) and those who want to stake. They deal with tokens like Lido Staked ETH and RocketPool’s rETH. These tokens make networks stronger and safer. People can also use these tokens in different finance projects that don't need a central authority (like banks), giving them a chance to make more money.
EigenLayer is now the third-biggest protocol on Ethereum, with a total value locked of $7.806 billion.
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