😱🚀🚀Liquid Restaking Protocol Renzo Raises $17 Million to Expand Its Services😱🚀🚀
Liquid #restaking protocol Renzo announced today that it has received $17 million in funding. #Renzo is currently worth approximately $4 billion. Coming in two rounds, the first round was led by Galaxy Ventures, while the second round was led by Nova Fund – BH Digital (based in Abu Dhabi). This follows previous funding of 3.2 million for the film through Maven11, Figment Capital and Binance Labs.
To re-evaluate, it is quickly becoming a mainstay for scaling security on Ethereum, but it is complex, cheap and user-blocking. Building on EigenLayer, Renzo is building to make buyback accessible and easy, and the new funding round will expand buyback services.
Renzo is based on a secure and user-friendly distribution service for the EigenLayer ecosystem, securing AVS (Actively Authenticated Services), simplifying the process of re-accessing data cards and enabling secure integrations with node operators.
“Restaking of all assets, ETH and ERC-20, is a binary transaction, and the dual staking adoption feature creates the consensus layer for Renzo to restake,said Founding Contributor Lucas Kozinski.
Renzo understands that it allows players to deposit local ETH, stETH and wBETH (LSTs) and their accounts to EigenLayer. Renzo is operated as a distributed Ethereum validator by Figment, P2P.org and Hashkey Cloud to provide unlimited participation in Eigenlayer.
Available with over 100 DeFi benchmarks from Arbitrum, Base, Blast, Linea, Mode and BNB Chain.
“Renzo distinguishes itself from other protocols by building the details of the system with repurchase in mind, unlike traditional staking protocols that only include repurchase,” said Will Nuelle, General Partner at Galaxy Ventures. “What sets Renzo apart is its unique ability to accept both native ETH and standard Liquid Staking Tokens (LSTs). “This capability allows Renzo to enhance collaboration with existing market players and provides a seamless, user-friendly process for existing players.
