What is RENZO? And will this continue to be the Restaking trend in the near future? Let's find out through the article below $BNB $BTC $ETH

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1. What is Renzo?

Renzo is a liquid staking protocol built on top of EigenLayer. Users perform staking on EigenLayer through the Renzo platform to receive ezETH and continue their DeFi journey

TVL Renzo has now surpassed the $3.2 billion mark, ranking 2nd after http://Ether.Fi in the TOP current liquid staking platforms

2. Investors and project team

The project raised a seed round of $3.2M from Maven Capital, OKX VC,... in January 24 and was followed by an undisclosed investment round from Binance Labs in February. Renzo also projects liquid staking The second time that Binance Labs invested money after Puffer Finance.

3. How do LRT and ezETH work?

3.1 How LRT works

Renzo is a liquid derivatives platform built on EigenLayer. It serves as an interface to the EigenLayer ecosystem by securing Actively Authenticated Services (AVS) and offers higher returns than ETH staking.

For each LST or ETH deposited into Renzo, it will generate an equivalent amount of ezETH.

How it works:

Renzo is built to be the main on-ramp/fork for Ethereum resets, using a combination of smart contracts and operating nodes to ensure the best risk/reward reset strategy.

What are restaking strategies?

AVS in Eigenlayer are decentralized services that will inherit the security of Ethereum through EigenLayer.

A reset strategy is a single position in which the user decides to secure one of multiple AVSs or a combination thereof.

The number of possible strategies for securing an operation increases with the number of AVSs. Each AVS presents a unique entry point for reward and associated cut risk, and the more AVSs you have, the more diverse strategies you can have to effectively secure them.

This formula considers all possible combinations of securing AVS, from securing one to securing all AVS.

Consider a scenario where there are only 3 AVS - A, B, C. The number of possible strategies is

AVS A: AVS A security only
AVS B: AVS B security only
AVS C: AVS C security only
AVS A and AVS B: Secure both AVS A and AVS B together
AVS A and AVS C: Secure both AVS A and AVS C together
AVS B and AVS C: Secure both AVS B and AVS C together
AVS A, AVS B and AVS C: Secure all three AVS simultaneously

In this case, there are 7 different strategies for operational security, based on whether you secure each AVS individually or combine them.

We will also get 7 if we apply the above equation.

Now, as the number of AVS increases, the number of strategies also increases. In fact, this increases exponentially,

At 15 AVS, we would have 32,767 possible strategies. As you can imagine, evaluating the right mix of AVS while optimizing risk-reward and proactively managing these positions becomes more difficult as more AVS join the network.

3.2 How ezETH works

ezETH is a liquid reset token that represents a user's reset position at Renzo. Users can send native ETH or LST and receive ezETH.

Reward
ezETH is a token that offers similar rewards as cTokens

Base reset positions earn rewards reflected in the price of ezETH. Rewards are expected in ETH, USDC, and Actively Validated Service (AVS) reward tokens.

This means that ezETH value increases compared to basic LSTs as it earns more rewards in AVS tokens
To mint ezETH, simply visit http://renzoprotocol.com/restake and stake your ETH or LST

Withdraw money
Depending on the reset strategies implemented, unstaking will take a minimum of 7 days, primarily due to EigenLayer's unstaking requirements, but will vary depending on the AVS.

If deposits and withdrawals are balanced then rewards will be distributed equally regardless of the assets withdrawn.
If deposits and withdrawals do not balance, while the principal will be fully withdrawn, the rewards will be different for each asset incentivizing the balance based on a spike rate model

transfer
Please note, ezETH withdrawals are not enabled. You are encouraged to provide liquidity or sell ezETH on Balancer, which provides a superior mechanism to convert ezETH to ETH in most cases. Visit the ezETH/WETH Balancing Group.

Fee
Renzo surpasses 100% of all EigenLayer bonuses

Fees will be split between the protocol reserve (treasury) and Renzo node operators

4. Renzo's products include?
4.1 Restake

Renzo launched its beta mainnet to the public on December 18, 2023. The application allows users to deposit native ETH, wBETH or stETH (LST) and gain access to restored points of EigenLayer. Renzo operates a distributed Ethereum validation infrastructure powered by Figment, http://P2P.org and Luganodes to enable unlimited participation on Eigenlayer.

Retake allows users to deposit ETH and earn EigenLayer reset points.

4.2 Caps & LSTs

Renzo never limits ETH deposits on EigenLayer.

Renzo is built from the ground up and is the only retry protocol that accepts ETH and native LST backed by an LRT.

Currently, Renzo supports two LSTs, wBETH and stETH, and Renzo plans to support many different LSTs in the future.

EigenLayer Opens the Caps window

Renzo offers a 200 ezPoint boost for every 1 LST deposit, from February 5 to February 9, 2024, 20:00 UTC

Every 1 wBETH and stETH deposit will be increased by 200 ezPoints!

wBETH and stETH deposits will be live on Renzo February 5, 2024 at 20:00 UTC.

As soon as EigenLayer opens the limit, wBETH and stETH holders can deposit until February 9, 2024, 20:00 UTC or until the Renzo limit of 5,000 wBETH and stETH is reached.

Once both the wBETH and stETH limits are reached, the stETH deposit will be closed until the next EigenLayer limit reopens.

Renzo will increase or remove wBETH and stETH limits before the next deposit round.

!! Important !!

Looping - i.e. using the same ezETH to generate rewards multiple times by selling ezETH for ETH to repeat the process is strictly prohibited. Our system will track this and remove you from your Boost and ezPoints.

4.3 Renzo ezPoints

See DeFi for more information about the ezPoints boost multiplier on various DeFi Integrations.

5. Token Allocation & Economics

5.1 Token Distribution

5.2 Token Allocation

5.3 Token release schedule

6. Predict price when listed
The Restaking trend is quite confusing as almost every prediction will have an Airdrop if Users participate in Restaking

It's worth mentioning here that Renzo is in the Top 2 TVL just behind http://Ether.fi

With a supply of 10B $REZ, but only 1,050,000,000 REZ in circulation (accounting for 10.50% of the supply), it can be said that the listing will reach a price of $0.5-$0.7

For specific information about OTC and Price, I will Update after having the information

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