Find out Binance's 53rd #Launchpool : #Renzo
What is Renzo?
Renzo is a Liquid Restaking protocol and is built on Eigenlayer. Eigenlayer allows users to stake their ETH and secure authenticated services (AVSs). The Renzo protocol contributes to the development of the Eigenlayer ecosystem, ensuring Actively Validated Services (AVSs) and providing higher yields compared to Ethereum staking.
When participating in staking on this platform, users will receive dual benefits by farming both EigenLayer points and Renzo Points, these are the points that the two projects will later calculate and can airdrop to users.
What is Ezeth?
When users stake ETH or LST such as wBETH or stETH through Renzo, they will receive ezETH in the corresponding amount. They can use this amount of tokens to continue looking for opportunities to increase rewards instead of staking directly on EigenLayer, they will not receive any LST (Liquid Staking Token). This is also the reason why TVL on this platform is ranked 2nd, only behind Ether.fi in terms of staking and not much lower than the top 1 project.
You can hold ezETH in your wallet to collect rewards, swap or offer ezETH on DEXs or use it to participate in Defi.
Profit comes with risk
Profit
1. Renzo gives users the opportunity to earn passive income as an ETH holder or owner of some other LST
2. In addition to rewards from staking activities, integration with Eigenlayer allows users to receive more profits
3. Renzo provides a user-friendly interface, so it is not difficult for those who know staking for the first time
Risk
1. Risk comes from mistakenly clicking on fake project links, which will lead to losing money in your wallet when staking
2. The asset you stake may have a price decrease in the short or medium term. Therefore, you should always consider carefully before participating
3. Although users can freely withdraw staked funds at any time, this process may take a long time (minimum 1 week).
How Renzo works: Below the comment
