Description

Here's how it works:

• Liquid Restaking Tokens (LRTs): For each Liquid Staking Token (LST) or ETH deposited, Renzo mints an equivalent amount of ezETH, a token representing a user's staked position - the assets deposited into the protocol.
• Restaking Strategies: Offers various strategies for securing Actively Validated Services (AVS), enabling users to optimize for risk/reward across multiple AVSs. This means the protocol diversifies risk for the user by depositing assets in different AVSs.
• ezETH: Acts as a reward-bearing token, increasing in value relative to the underlying assets as it accumulates rewards in ETH, USDC, and AVS reward tokens.
• Rewards: Reflects the underlying restaking positions' earnings in the ezETH price, aiming to distribute rewards fairly among users.
• Withdrawals and Transfers: Unstaking requires a minimum of 7 days, with rewards distribution varying based on the balance of deposits and withdrawals. ezETH withdrawals are not yet enabled, but can be exchanged via the ETH/ezETH Balancer Pool.
• Fees: Renzo ensures 100% of EigenLayer rewards are passed to users, with fees divided between protocol reserves and node operators.

In summary, Renzo simplifies the process of staking on Ethereum through EigenLayer by offering users an easy way to manage their staking strategies and earn higher yields, while also advocating for the adoption of EigenLayer's technology.