OKX Ventures announces strategic investment in Eigenlayer, a leading Ethereum re-staking protocol, Renzo
OKX Ventures today announced the completion of its investment in Renzo Protocol, which is a liquidity restaking protocol, a new application in the DeFi space.
OKX Ventures today announced the completion of its investment in Renzo Protocol, which is a Liquid Restaking Protocol, a new application in the DeFi space. It is currently running on the EigenLayer mainnet as a native re-staking product, with the advantage of being fully stakeable, meaning it is not constrained by the EigenLayer LST deposit limits.
EigenLayer is a middleware protocol based on Ethereum that offers a re-staking experience while sharing the Ethereum network. Users can re-stake ETH or LSD tokens such as stETH into other protocols or services that require security and trust, thereby earning dual rewards and governance rights. This round of financing for Renzo is the first officially announced project by OKX Ventures in the EigenLayer ecosystem. Renzo entered the mainnet beta testing phase a month ago, on December 18, 2023, during which over 2,000 users deposited a total of $20 million. The mainnet beta has been running smoothly and growing rapidly, making it the most promising Restaking secondary staking protocol within EigenLayer.
Dora Yue, founder of OKX Ventures, stated: "The forefront of the DeFi track with the most development momentum is EigenLayer, highlighted by its products that provide better yield strategies for community users through re-staking. As a leading project in EigenLayer, Renzo is at the forefront in terms of product and ecosystem layout. Based on this strategic cooperation, we will actively support Renzo's development, including in product portfolio and ecosystem resource coordination, committed to helping Renzo provide a better DeFi experience for community users."
Lucas Kozinski, co-founder of Renzo, said: "The investment from OKX Ventures confirms our team's development direction and prospects in the increasingly innovative DeFi decentralized finance space; together with OKX Ventures, Renzo will accelerate its development, realizing the implementation of the EigenDA data availability solution, becoming the most active and best product ETH restaking platform in Crypto."
