OKX Ventures Invests in Renzo, a Leading ETH Restaking Protocol on Eigenlayer

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Jan 15, 2024, 21:12 ET

SINGAPORE, Jan. 15, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading Web3 technology company OKX, today announced an investment in Renzo, a new DeFi Liquid Restaking Protocol, that is live on EigenLayer's Mainnet, allowing users to restake their ETH and bypass Eigenlayer Liquid Staking Tokens (LST) caps.

The investment is OKX Ventures' first in projects that utilize EigenLayer, the protocol built on Ethereum that enables users to restake their ETH, secure new networks and capture offering additional higher yields. EigenLayer can also be used to restake Liquid Staking Tokens (LST) like stETH.

Renzo successfully launched its Beta Mainnet on December 18th 2023, attracting USD $20 million in deposits from over 2,000 users, making it the fastest growing Restaking Protocol on EigenLayer.

OKX Ventures Founder Dora Yue said: "One of the most interesting and fast-growing sectors of the DeFi world is the EigenLayer ecosystem, which is opening up new frontiers for those who want options for better yield via re-staking. Renzo is an outstanding project with incredible potential to be on the leading edge of this revolution. Our investment in Renzo will pave the way to support the team's growth and build technical compatibility between our large, DeFi-savvy user base and Renzo's services."

Renzo Founding Contributor Lucas Kozinski said: "OKX Venture's investment in Renzo is a testament to the potential of the protocol and the innovation that is happening every day as we contribute to the future of decentralized finance. As Renzo scales and prepares for the launch of EigenDA, relationships with leading exchanges like OKX will ultimately help to make Renzo the most accessible and easy-to-use ETH restaking solution in the crypto space."

For further information, please contact: [email protected]

About OKX Ventures

OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

Disclaimer

SOURCE OKX Ventures