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OKX Ventures announces strategic investment in Eigenlayer, a leading Ethereum re-staking protocol Renzo. [Image]

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OKX Ventures announced today that it has completed an investment in Renzo Protocol, a new DeFi application in the field of liquidity restaking protocol. Renzo is a decentralized self-custody protocol designed to protect digital assets from theft and priva

Source: OKX

OKX Ventures announced today that it has completed an investment in Renzo Protocol, a new DeFi application in the field of liquid restaking protocol. Renzo Protocol is currently running on the mainnet of EigenLayer and is a native restaking product that has the advantage of being able to fully stake without being constrained by EigenLayer LST deposit limits.

EigenLayer is a middleware protocol based on Ethereum, which shares the Ethereum network and introduces the experience of re-staking. Users can use ETH or LSD tokens such as stETH to re-stake to other protocols or services that require security and trust, thereby obtaining double benefits and governance rights. The current financing round for Renzo is the first project announced by OKX Ventures in the EigenLayer ecosystem. Renzo entered the mainnet testing phase a month ago on December 18, 2023, during which more than 2,000 users deposited a total of $20 million. The mainnet testing phase ran smoothly and grew rapidly, becoming the most promising Restaking secondary staking protocol in EigenLayer.

OKX Ventures founder Dora Yue said: "The most cutting-edge and promising DeFi track is EigenLayer, which provides better yield strategies for community users through re-staking. Renzo, as the leading project of EigenLayer, is in a leading position in terms of product and ecological layout. Based on this strategic cooperation, we will actively support the development of Renzo, including product portfolio and ecological resource coordination, and strive to help Renzo provide a better DeFi experience for community users."

Renzo co-founder Lucas Kozinski said: "OKX Ventures' investment confirms the development direction and prospects of our team in the increasingly innovative DeFi decentralized finance; in collaboration with OKX Ventures, Renzo will accelerate its development and realize the landing of the EigenDA data availability solution, becoming the most active and best product ETH restaking Ethereum re-staking platform in Crypto for users."