Renzo

What is Renzo?

Renzo is a liquid restaking protocol that simplifies access to EigenLayer's restaking ecosystem through ezETH, a liquid restaking token. Launched in early 2024, Renzo has rapidly grown to become one of the top liquid restaking protocols with billions in total value locked. The protocol's mission is to abstract away the complexity of restaking while maximizing yields for depositors.

What distinguishes Renzo is its focus on user experience and its active approach to AVS curation. Rather than simply restaking ETH on EigenLayer, Renzo strategically selects which Actively Validated Services (AVSs) to secure, optimizing for risk-adjusted returns. This managed approach appeals to users who want restaking exposure without needing to evaluate individual AVSs themselves.

Renzo has expanded across multiple chains, offering ezETH on Ethereum mainnet and various Layer 2 networks. The protocol has also launched the REZ governance token, enabling community participation in protocol decisions including AVS selection and economic parameters.

Key Statistics

• Total Value Locked: $3B+ in restaked ETH
• Main Token: ezETH (EigenLayer restaked ETH)
• Networks: Ethereum, Arbitrum, Linea, Mode, Blast
• AVS Strategy: Actively managed selection
• Security Audits: Multiple audits from Halborn, Sigma Prime
• Governance: REZ token

How Renzo Works

Liquid Restaking Flow

The Renzo restaking process:

1. User deposits ETH into Renzo
2. ETH is staked with Renzo's node operators
3. Staked ETH is restaked on EigenLayer
4. Renzo delegates to curated AVSs
5. User receives ezETH representing their position
6. Earns staking + restaking + REZ rewards

Understanding ezETH

ezETH is a value-accruing liquid restaking token:

• Exchange rate vs ETH increases as rewards accrue
• Represents ETH staked and restaked through Renzo
• Fully liquid and tradeable
• Usable in DeFi as collateral
• Available on multiple L2s

AVS Curation

Renzo's managed approach:

• Team evaluates AVSs for risk/reward
• Diversifies across multiple AVSs
• Monitors for slashing risks
• Optimizes yield allocation
• Governance input on major decisions

Step-by-Step: Using Renzo

1. Visit app.renzoprotocol.com
2. Connect your wallet
3. Choose network (Ethereum or L2)
4. Enter ETH amount to restake
5. Approve and confirm transaction
6. Receive ezETH immediately

1. Mint on Ethereum mainnet
2. Bridge to supported L2s
3. Use in L2 DeFi ecosystems
4. Same ezETH value across chains

1. Request withdrawal on protocol
2. Wait for processing period
3. Claim ETH when ready
4. Or swap on DEXs for instant liquidity

Use Fensory to monitor ezETH yields and compare restaking options.

Renzo Fees

Current APY Ranges

Key Features

1. Managed AVS Selection

Professional curation of AVSs for optimized risk-adjusted returns.

2. Multi-Chain Native

ezETH available on Ethereum and multiple L2s.

3. Simplified Experience

Complex restaking abstracted into simple deposit.

4. REZ Governance

Community participation in protocol decisions.

5. Cross-Chain DeFi

Use ezETH across ecosystems for maximum utility.

6. Points Program

ezPoints program rewarding early participants.

Renzo vs Competitors

Risk Considerations

Smart Contract Risk

Complex restaking protocols have significant smart contract surface area. Audits reduce but don't eliminate risk.

EigenLayer Risk

Restaking introduces novel slashing conditions and economic assumptions not yet fully tested.

AVS Risk

Curated AVS selection adds manager risk. Poor AVS choices could lead to slashing or suboptimal returns.

Centralization Risk

Managed AVS selection involves trust in Renzo team's judgment.

Cross-Chain Risk

Bridged ezETH on L2s introduces additional bridge and contract risks.

Depeg Risk

ezETH could trade below ETH in extreme conditions, especially on L2s with less liquidity.

Frequently Asked Questions

Renzo focuses on managed AVS curation and multi-chain availability, simplifying restaking while expanding DeFi utility.

The team evaluates AVSs for security, economic sustainability, and yield potential, diversifying across multiple services.

Yes, bridged ezETH represents the same underlying restaked ETH position, redeemable on mainnet.

REZ enables governance participation in protocol decisions including AVS selection and economic parameters.

Yes, ezETH is integrated across lending protocols, DEXs, and yield platforms on multiple chains.

. -

[Get Started with Fensory](https://www.fensory.com)