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Editorial policyRenzo Protocol lets users deposit ETH or LSTs and receive ezETH, a liquid restaking token that earns both native Ethereum staking rewards and EigenLayer AVS restaking yield. ezETH is accepted as collateral on Aave, Pendle, and other DeFi protocols. The REZ token governs the protocol. Renzo is one of the largest liquid restaking providers alongside ether.fi and Kelp DAO.
Renzo is a liquid restaking protocol on Ethereum that issues ezETH — letting users earn Ethereum staking yield plus EigenLayer restaking rewards in a single composable token.
Market context
DeFiLlamaSkip this What is Renzo? Liquid Restaking and ezETH Explained explainer if you wanted a first wallet setup or a CEX account. It covers how the protocol works and who it is not for. How-tos and comparisons are linked where they exist.
Related comparisons
Renzo Protocol is a liquid restaking platform that simplifies access to EigenLayer's restaking ecosystem. Users deposit ETH or liquid staking tokens and receive ezETH — a token representing a restaked position that continues earning Ethereum consensus rewards while simultaneously participating in EigenLayer Actively Validated Services (AVS).
Renzo grew rapidly during the 2024 restaking boom, accumulating billions in TVL as users sought exposure to EigenLayer points and AVS rewards without running validators or managing complex restaking interfaces directly.
Convex, Curve, Resupply, Inverse Finance and Frax share collateral, gauges and stablecoin rails. Read the flywheel first if you are new to the stack.
FAQ
Renzo is a liquid restaking protocol issuing ezETH — a token representing ETH restaked through EigenLayer with automatic reward accrual.
ezETH is Renzo's liquid restaking token. Its exchange rate vs ETH increases as staking and restaking rewards accumulate.
REZ is Renzo's governance token, used for protocol votes and distributed as incentives to early users and liquidity providers.
Restaking adds incremental slashing risk beyond standard ETH staking. Smart contract risk, operator risk, and AVS slashing are all relevant.
ether.fi emphasises non-custodial validator keys; Renzo uses operator-managed infrastructure. Both issue LRTs earning EigenLayer restaking yield.
Yes — ezETH is accepted as collateral on major lending protocols and is traded on Curve and via aggregators.
Kelp DAO issues rsETH — a liquid restaking token for EigenLayer — and gained global attention after a $292M bridge exploit in April 2026 that stress-tested DeFi's composability stack.
EigenLayer lets you restake ETH or LSTs to secure extra services (AVSs). Verdict-first guide on stacked slashing, why Lido-only staking is enough for most people, and who should not restake.
ether.fi issues eETH, a liquid restaking token. Verdict-first guide on when Lido stETH is the simpler choice and what extra risk eETH adds.