Renzo (REZ) is a liquid restaking protocol designed to simplify the Ethereum restaking process and provide higher yields. It allows users to participate in DeFi while retaining re-collateralization rewards. REZ tokens are used for governance, rewards, trading, and protocol security, and the platform aims to enhance earning opportunities and network security within the Ethereum ecosystem.
The REZ token serves as both a governance and utility token for the Renzo Protocol, enabling holders to take part in decision-making that influences the platform's development.
Renzo works with various blockchain systems, including Ethereum's EigenLayer, Symbiotic, and Solana's Jito Network. This simplifies staking for users who prefer not to handle the complicated process of running their validator nodes.
Renzo allows users to earn an additional yield on their ETH and SOL by restaking them while maintaining liquidity through ezETH and ezSOL. Users benefit from auto-compounded rewards, cross-chain flexibility, and integration with major DeFi protocols, maximizing capital efficiency.
When users stake cryptocurrency assets with Renzo, they receive Liquid Restaking Tokens (LRTs) in return. These tokens represent the assets users have staked and can be utilized elsewhere without interrupting their staking earnings.