Renzo, a cutting-edge Liquid Restaking Protocol, has secured $17 million in funding to expand its services. This significant investment follows an initial $3.2 million raised from Maven11, Figment Capital, and Binance Labs. Renzo's innovative approach to restaking has already seen nearly $4 billion in assets restaked, with the protocol poised to revolutionize the way users interact with Ethereum.

Restaking, a crucial component of Ethereum's security, has traditionally been complicated, risky, and expensive, hindering user growth. Renzo, built on EigenLayer, aims to make restaking accessible and easy. The new funding will enable the protocol to expand its services, making it a one-stop-shop for users.

Renzo acts as a secure and user-friendly interface to the EigenLayer ecosystem, securing Actively Validated Services (AVS) and accessing restaking rewards. The protocol allows users to deposit native ETH, stETH, and wBETH (LSTs) and gain access to EigenLayer. Renzo's distributed Ethereum validator infrastructure, powered by Figment, P2P.org, and Hashkey Cloud, enables unrestricted participation on EigenLayer.

Renzo's unique ability to accept both native ETH and Liquid Staking Tokens (LSTs) sets it apart from traditional staking protocols. This capability fosters collaboration with existing market players and ensures a smooth, user-friendly process for participants. With over 100 DeFi integrations, including Arbitrum, Base, Blast, Linea, Mode, and BNB Chain, Renzo is poised to become the go-to platform for restaking.

"Renzo differentiates itself by fundamentally building its system with restaking in mind," said Will Nuelle, General Partner of Galaxy Ventures. "What sets Renzo apart is its unique ability to accept both native ETH and Liquid Staking Tokens (LSTs). This capability allows Renzo to foster collaboration with existing market players and ensures a smooth, user-friendly process for participants."

Renzo is the restaking hub of EigenLayer, built to streamline and expand access to the most intelligent Liquid Restaking strategies. Powered by institutional-grade node operators, Renzo abstracts away the complexities of securing Actively Validated Services (AVS) while delivering a powerful interface for risk management and rewards tracking on EigenLayer. With Renzo's ezETH, users can access broad exposure to the EigenLayer (and Ethereum) ecosystems with more opportunities to generate rewards.