If you are a crypto enthusiast, there is an amazing project, Renzo, which you should learn about. Cryptocurrency world, in particularly the Decentralized Finance (DeFi), is abuzz with the name of Renzo project. It is seen to bring a revolution in Ethereum re-staking.
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What is Renzo in Crypto?
Renzo (EZ) is a Liquid Restaking Token (LRT) and Strategy Manager for a protocol on Ethereum known as EigenLayer. EigenLayer, a protocol, is built on Ethereum that enables restaking.
It also acts as an interface to the complex EigenLayer ecosystem and offers higher returns than Ethereum staking. Thus Renzo hides the underlying complexity of EigenLayer by providing a friendly interface to its users.
EigenLayer: Bringing Revolution in DeFi
EigenLayer is bringing a new concept in DeFi that is Restaking. Restaking is more than just staking the ETH coins. It not only earns you regular yield, for staked ETH, but also secures Actively Validated Services (AVSs) which help in getting additional rewards. This way of reusing the staked ETH makes Ethereum more secure and efficient.
Renzo (EZ) on Binance LaunchPad
Renzo (EZ) is going to be listed on the Binance Exchange on 29 April 2024 and it would be its 53rd project. Users on the Binance can earn the EZ coins as airdrop by staking BNB and/or FDUSD till 29 April. The amount of EZ coins earned as rewards depends on the quantity of BNB/FDUSD staked and the duration of staking. After the farming period is over, the EZ coin would be listed the Binance.
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Renzo-BNB chain Integration
Renzo has recently collaborated with BNB chain enabling the crypto to restake ETH
for Renzo’s Liquid Restaking Token (LRT), ezETH directly on the BNB chain. This has done away the need for complex bridging between two different chains.
Investors in Renzo (EZ)
Renzo has a long list of popular investors who have already an established presence in the market. A few of them are listed below:
- Binance Labs
- Maven11
- Figment Capital
- SevenX Ventures
- OKX Ventures,
- MANTLE
- bitscale capital