LRTs

EigenLayer Overview

EigenLayer is an innovative layer on top of the Ethereum blockchain designed to enhance scalability and functionality by leveraging existing Ethereum validators. It facilitates permissionless innovation and allows for the creation of new decentralized applications (dApps) and services without requiring additional consensus layers.

Key Features:

• Actively Validated Services (AVSs): EigenLayer introduces a framework for validators to participate in external validation services, contributing to security and operational efficiency across multiple blockchain applications.

• Enhanced Yield Opportunities: By enabling validators to secure additional networks and services, EigenLayer offers them new avenues for earning rewards, thereby increasing their potential yield over traditional staking.

• Permissionless Participation: The platform supports a decentralized and open model, allowing anyone to build and deploy services that can benefit from the security provided by Ethereum validators.

Functionality and Integration

Restaking: Through platforms like Renzo, users can restake their ETH in a simplified manner, gaining access to the benefits of EigenLayer without dealing with the complexities of direct participation.

Security and Trust: The infrastructure supports high-level security protocols and fosters trust through its decentralized and transparent nature, making it an attractive option for developers and validators alike.

Scalability Solutions: By offloading certain computational and storage tasks to EigenLayer, the main Ethereum chain can operate more efficiently, reducing congestion and improving transaction throughput.

Strategic Partnerships

EigenLayer collaborates with various strategic partners, including infrastructure providers and blockchain networks, to expand its ecosystem and enhance the utility of its platform. These partnerships help in broadening the scope of services offered and in promoting widespread adoption of the technology.

Vision and Impact

Innovation on Ethereum: EigenLayer is committed to driving permissionless innovation, allowing developers to create more sophisticated and scalable applications on Ethereum. Trust Acquisition: The platform aims to programmatically acquire trust, thus reinforcing the security and reliability of the Ethereum ecosystem.

Renzo Overview

ezETH acts as a liquid restaking token representing a user's restaked position within Renzo. It mirrors the mechanics of Compound’s cTokens, capturing native ETH rewards from staking and reflecting these in the price of ezETH.

Utility of ezETH:

- Collect rewards by holding ezETH in your wallet.

- Trade or supply ezETH on decentralized exchanges (DEXs).

- Engage in various DeFi applications as ezETH becomes increasingly integrated.

Renzo Protocol Overview

Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer, designed to enhance and secure the Ethereum ecosystem by providing Actively Validated Services (AVSs). Renzo facilitates a higher yield than traditional ETH staking by abstracting complexities and promoting easy collaboration between users and EigenLayer node operators.

Renzo champions the widespread adoption of EigenLayer, striving for permissionless innovation on Ethereum and fostering a trust-rich ecosystem.

Core Features:

- Interface to EigenLayer: Renzo serves as the gateway for users to interact seamlessly with the EigenLayer ecosystem, thus enabling greater participation and security in decentralized services.

- Yield Generation: Yield on Renzo comes primarily from Ethereum validators. As AVSs become operational, additional yield sources will be integrated through Renzo Node operators.

- Restaking: Users can deposit ETH or LSTs (like wBETH, stETH) to access EigenLayer Restaked points through Renzo’s app, supported by a distributed validator infrastructure operated by Figment, P2P.org, and Luganodes.

Security and Operations

ETH Validators: The protocol's validator infrastructure is run by Figment and P2P.org, ensuring institutional-grade security and performance.

Audits: Renzo has been audited by Halborn, confirming its adherence to security best practices. Exchange Rate: The ETH to ezETH exchange rate is calculated based on the native ETH rewards generated from staking, encapsulated by the protocol and mirrored in ezETH’s valuation.