Recently eth/btc has reached a new low. Is it uncomfortable to hold ETH? Don't miss the underrated treasure item in Restaking War - Renzo.
Let me give a long introduction to a restaking target that is currently undervalued - Renzo. Although some people have mentioned it in the Chinese-speaking circle, Brother Lion is sure that I have done a lot of in-depth research and will share it with you.
Brother Lion previously recommended two projects for staking ETH, one is Blast and the other is Manta, but now they have passed the time of maximizing investment value. How can ETH get the best returns currently? In fact, I found that people in the Chinese-speaking community are much more low-key about Restaking compared to the enthusiasm among foreigners. Here is a little more nonsense to introduce the core of the Restaking track: @eigenlayer
All-star vc and huge financing
This is their official introduction:
“EigenLayer is an Ethereum-based protocol that introduces restaking, a new primitive in cryptoeconomic security. This primitive makes it possible to restake ETH on the consensus layer. Users who stake ETH can Opt-in to the EigenLayer smart contract to re-stake your ETH and extend crypto-economic security to other applications on the network. Part of the potential of EigenLayer lies in its ability to aggregate and extend crypto-economic security through re-staking and verify that on Ethereum New applications built on top."
Too long to watch version:
Come and re-stake your ETH and I will give you the money -- in terms of importance, it can be one of the biggest narratives in the future of Ethereum.
You can see that they have raised US$54.5 million in the first two rounds, and it is said that they will raise more. The valuation of their investment in OTC has reached US$3 billion.
(Personally, I feel that once the coin comes out, it will be basically confirmed by all the first-line exchanges. Based on this valuation, it may directly enter the top 20 crypto market capitalization)
Revolving around this big fish, a number of vote-buying projects have appeared on the market, all with the purpose of allowing everyone to better obtain eigenlayer points through retake eth. For example @swellnetworkio @kelporg @ether_fi etc. You can directly go to the eigen website to deposit eth, but this will lose the opportunity to eat more than one fish, so it is best to deposit through some projects, so that you can get their own tokens and eigen's future tokens.
But unfortunately, the time when foreigners are crazy about Swell pearls happens to be the same time when the Chinese currency circle is crazy about making inscriptions on various chains, so it is too late to participate in Swell and other projects.
At present, Brother Lion’s suggestion is to use a relatively new protocol, which is @RenzoProtocol Eigenlayer’s own ecological project.
Portal: https://app.renzoprotocol.com/retake?ref=0x00326e37cef76788f6b0cf643c94481d60bd3d58
The reason is simple: not long after it started, it was still giving triple mining acceleration to newcomers, and did not announce the financing and team background, so the whales were afraid.
What Renzo does is the Convex layer on Eigenlayer, which helps users stake their ETH in a reasonable selection of ecological projects to obtain additional security. From a security perspective, all funds are pledged on ETH. The biggest loss is the Slash caused by the ecological project Rug. From a revenue perspective, it is equivalent to the annualized ETH pledge, Eigenlayer airdrop, Renzo airdrop and triple mining. In theory, APY will be exaggerated.
Here comes the focus of this article, the information and benefits shared by fans in the Big Lion Brother community:
At present, Renzo’s financing background cannot be found in the outside world. Unlike Swell and Kelp, who know which team is there, many big funds are still afraid to rush in. In addition, they came out late, so their TVL is currently only 22M. Just one-20th of the leader Swell.
After doing in-depth research, Brother Big Lion discovered that behind the Renzo team is a well-known DeFi team in the last DeFi bull market, and it does not come from nowhere. They have also received good institutional investment, but it is not yet time to announce it. So I would suggest everyone to collect the points before disclosing it. After all, points are divided among everyone. The greater the amount of funds entered, the smaller the points will be.
The operation is very simple. After entering through the portal, link the wallet in the upper right corner, select the ETH you want to invest, click Confirm to get ezETH, and then you can lie down and wait for your eigenlayer score and renzo score to increase every day. These points will be converted into tokens for you in the future.
Pledge interface
I estimate that Renzo will launch its currency in March. As for the eth pledged, it can be withdrawn by selling after the team launches the liquidity pool at the earliest (the pool should be very fast), and the minimum pledge time is 7 days.As for Eigenlayer, the currency issuance time has not yet been determined. I personally hope it will be before May.
My strategic suggestions:
Large investors can throw in their idle eth and enjoy the bull market rise of eth while earning profits from the other three fishes.
Retail investors can pledge a little eth to get a bonus of 3 times the points in the early stage, but they need to withdraw it in exchange for eth. Although you may not be able to get too many eignerlyaer points compared to the big players in terms of capital size, at least you won’t be short-changed. (This is not recommended if your funds are too small, after all, gas is not cheap either)
There are actually a lot of restaking targets. I will post a comparison chart for your reference now. I don’t need to do too much homework now. I suggest you throw some away first and play with Renzo.
