Staking · Liquid Restaking · ezETH
Renzo issues ezETH, a liquid restaking token that abstracts EigenLayer operator and AVS selection so users get diversified restaking exposure from a single deposit.
EigenLayer strategy manager and LRT issuer.
ezETH price
$0.0028
+2.5% 24h
Latest data · 15 min delay
Acts as a strategy manager on top of EigenLayer — handling operator/AVS selection and reward optimization for ezETH holders.
Renzo's flagship liquid restaking token (LRT). Users deposit ETH or accepted LSTs (e.g. stETH) and mint ezETH, which represents their EigenLayer-restaked position. It is a reward-bearing token (value accrues relative to the underlying rather than rebasing) that stays liquid and composable across DeFi. Native minting is supported on Ethereum, Arbitrum and Base.
Renzo's governance token, launched via Binance Launchpool as the 53rd project. Farming ran from April 24, 2024; token trading began April 30, 2024. Used for protocol governance and airdrop-based distribution to early users.
Renzo operates as an EigenLayer strategy manager, abstracting the complexity of selecting node operators and Actively Validated Services (AVSs). It routes restaked ETH to secure AVSs and manages operator delegation on behalf of ezETH holders.
~$688-$700 momentary DEX print; ~18% intraday drop
The Block - ezETH depegs 18.3%$3.2M seed (Jan 2024) + $17M strategic (Jun 2024); Binance Labs amount undisclosed
The Block - Renzo raises $17 millionHow Renzo maps onto established TradFi structures, and where it diverges.
Money-market fund / yield-bearing deposit receipt
Renzo
ezETH functions like a transferable, yield-accruing receipt: you deposit a base asset (ETH) and hold a token whose value grows as underlying rewards accrue, while remaining freely transferable and usable as collateral.
TradFi analogue
Yield is generated by securing decentralized services (Ethereum staking plus EigenLayer AVS restaking) rather than short-term debt instruments; there is no principal guarantee, redemption can be subject to withdrawal queues and slashing, and the token can depeg from its net asset value on secondary markets, as seen in April 2024.
Renzo Protocol team
Core development and protocol operations The core team builds and maintains the Renzo smart contracts, EigenLayer integration and multi-chain deployments. REZ token governance is intended to progressively decentralize decision-making over protocol parameters and operator selection.
Seed
2024-01-16$3.2M
Key milestones: launches, upgrades, exploits and governance events.
$3.2M seed round
ExecutedRenzo raised $3.2M in a seed round led by Maven 11 Capital with participation from Figment Capital, IOSG Ventures, OKX Ventures and SevenX Ventures, at a reported ~$25M valuation.
SourceBinance Labs investment
ExecutedBinance Labs invested an undisclosed amount in Renzo, structured as equity with a token warrant in a 1:1 ratio, matching the seed round terms.
SourceREZ token launch (Binance Launchpool)
ExecutedREZ governance token began trading following a Binance Launchpool farming period and a Season 1 airdrop.
Source$17M strategic round
ExecutedRenzo raised $17M across two rounds, led by Galaxy Ventures and Brevan Howard Digital's Nova Fund, to expand restaking services including ERC-20 token support.
SourceRenzo is a liquid restaking protocol built on EigenLayer. Users deposit ETH or liquid staking tokens and receive ezETH, a liquid restaking token that represents their restaked position and auto-compounds staking plus restaking rewards while remaining usable across DeFi.
ezETH is a reward-bearing token (similar to cTokens). Rather than rebasing balances, its value increases relative to the underlying ETH as staking and restaking rewards accrue, so one ezETH represents an increasing amount of ETH over time.
On April 24, 2024, ezETH depegged sharply (dropping roughly 18% on-chain, with thin-liquidity DEX prints as low as ~$688-$700 on Uniswap) following the REZ tokenomics/airdrop announcement. Users rushed to exit as they learned airdrop distribution details, and the illiquidity triggered liquidations on leveraged DeFi venues before the token largely recovered.
REZ is Renzo's governance token. It was distributed via Binance Launchpool (the 53rd project), with BNB/FDUSD farming from April 24, 2024 and spot trading opening April 30, 2024, alongside a Season 1 airdrop to early Renzo users.
Renzo supports native ezETH minting on Ethereum, Arbitrum and Base, with cross-chain bridging to reduce gas costs and expand access to Layer 2 ecosystems.
