{"id":"renzo-restaked-eth-ezeth","title":"Renzo Restaked ETH (ezETH)","content":"**Renzo Restaked ETH (EZETH)** functions as the [Liquid](https://iq.wiki/wiki/liquid) Restaking Token (LRT) within the [Renzo Protocol](https://iq.wiki/wiki/renzo-protocol), symbolizing the user's restaked position. Participants can [stake](https://iq.wiki/wiki/staking) native [ETH](https://iq.wiki/wiki/ethereum) or [liquid staking](https://iq.wiki/wiki/liquid-staking) tokens (LSTs), like [wBETH](https://iq.wiki/wiki/wbeth) and [stETH](https://iq.wiki/wiki/lido-staked-ethereum-steth), and in return, acquire ezETH. ezETH is a reward-bearing token, implying that its value has the potential to surpass that of the underlying tokens due to its yield enhancement within Actively Validated Services (AVSs). [\\[1\\]](#cite-id-fAPwSkhKkt) [\\[2\\]](#cite-id-OYL2zmGHP8)\n\n## Overview\n\nezETH functions as a reward-bearing token akin to cTokens. The rewards are generated from the underlying restaking positions and are reflected in the value of ezETH. These rewards are anticipated to be [ETH](https://iq.wiki/wiki/ethereum), [USDC](https://iq.wiki/wiki/usdc), and Actively Validated Services (AVSs) reward tokens. Consequently, ezETH's value is expected to appreciate relative to the underlying [Liquid Staking](https://iq.wiki/wiki/liquid-staking) Tokens (LSTs) as it accumulates more rewards in AVS tokens.\n\n[Renzo Protocol](https://iq.wiki/wiki/renzo-protocol) serves as an interface and strategy manager for [EigenLayer](https://iq.wiki/wiki/eigenlayer). It uses a combination of operator nodes and smart contracts to optimize restaking strategies for users, aiming for the best risk/reward ratio [across](https://iq.wiki/wiki/across) various AVSs. Renzo has delegated a high percentage of its Total Value Locked (TVL) [across](https://iq.wiki/wiki/across) a curated list of AVSs, which contributes to its reward structure.\n\nAs of June 2025, [Renzo Protocol](https://iq.wiki/wiki/renzo-protocol) has a TVL of over $976 million. The TVL is primarily composed of [Ethereum](https://iq.wiki/wiki/ethereum) ($919 million) and [Solana](https://iq.wiki/wiki/solana) ($57 million) restaked assets. ezETH specifically has a TVL of $851 million and an APY of 3.05%. ezETH secures several AVSs, including EigenDA, eoracle, Witness Chain, OpenLayer, and Cyber via [AltLayer](https://iq.wiki/wiki/altlayer).\n\nezETH is available on multiple chains beyond [Ethereum](https://iq.wiki/wiki/ethereum) [mainnet](https://iq.wiki/wiki/mainnet), including Linea, [Unichain](https://iq.wiki/wiki/unichain), [Arbitrum](https://iq.wiki/wiki/arbitrum) One, [Blast](https://iq.wiki/wiki/blast), [Base](https://iq.wiki/wiki/base), Mode, and BNB Smart Chain. The increasing number of blockchains and Layer 2 networks contributes to liquidity fragmentation, making cross-chain solutions like ezETH valuable. [\\[1\\]](#cite-id-fAPwSkhKkt) [\\[2\\]](#cite-id-OYL2zmGHP8) [\\[3\\]](#cite-id-HOvH0WkimW) [\\[4\\]](#cite-id-NcJTiVafno) [\\[5\\]](#cite-id-JDjFCt0y57) [\\[6\\]](#cite-id-isotwWDTgX)\n\n$$widget0 [YOUTUBE@VID](7HAZGP2KeEI)$$\n\n### ezETH Depeg\n\n[Renzo Protocol’s](https://iq.wiki/wiki/renzo-protocol) restaked [Ether](https://iq.wiki/wiki/ether-eth) token (ezETH) experienced a price depeg on April 24th, 2024. The token's price briefly dropped to $688 on [Uniswap](https://iq.wiki/wiki/uniswap) decentralized exchange before recovering its price parity with [Ether (ETH)](https://iq.wiki/wiki/ether-eth). The incident was likely triggered by a broader sell-off following the conclusion of [Renzo Protocol’s](https://iq.wiki/wiki/renzo-protocol) season 1 [airdrop](https://iq.wiki/wiki/airdrop), as users sought to convert ezETH back to ETH to farm other protocols.\n\nAccording to analysts, similar depegging incidents are a risk for all LRTs. The depeg led to mass liquidations on leveraged protocols like Gearbox and [Morpho Labs](https://iq.wiki/wiki/morpho-labs), with loopers (users using LRTs as [collateral](https://iq.wiki/wiki/collateral) to borrow ETH) suffering significant losses. One trader reportedly profited nearly $400,000 in two hours by buying ezETH during the depeg and selling after it recovered. [\\[7\\]](#cite-id-lXYgrIBV73) [\\[6\\]](#cite-id-isotwWDTgX) [\\[8\\]](#cite-id-i7X01c1Kbf)\n\n$$widget0 [YOUTUBE@VID](YXT0iZL5r9Y)$$\n\n## Rewards and Fees\n\nezETH is a reward-bearing token where [staking](https://iq.wiki/wiki/staking) and restaking rewards are auto-compounded. This auto-compounding mechanism means the value of ezETH increases relative to the underlying assets as it earns more rewards.\n\nRenzo passes 100% of any [EigenLayer](https://iq.wiki/wiki/eigenlayer) rewards to users. Renzo charges a 10% fee on the rewards generated via restaking. This fee is split equally (50/50) between the protocol reserves (treasury) and Renzo [node](https://iq.wiki/wiki/node) operators [\\[1\\]](#cite-id-fAPwSkhKkt)\n\n## ezPoints\n\nRenzo’s points system, known as ezPoints, is designed to incentivize and reward users for their active participation and contributions to the protocol's growth. Holding ezETH is a primary way to earn ezPoints, with users receiving 1 Renzo ezPoint per hour for every 1 ezETH held. Early participation and holding larger amounts of ezETH can also lead to earning additional points through various boosts. ezPoints play a crucial role in determining the allocation of REZ tokens a user receives during [airdrop](https://iq.wiki/wiki/airdrop) events. [\\[2\\]](#cite-id-OYL2zmGHP8)\n\n## Team\n\nThe founding contributors of [Renzo Protocol](https://iq.wiki/wiki/renzo-protocol) include [Lucas Kozinski](https://iq.wiki/wiki/lucas-kozinski), James Coole, and Kratik Lodha. [Lucas Kozinski](https://iq.wiki/wiki/lucas-kozinski) has a background in the [crypto](https://iq.wiki/wiki/cryptocurrency) industry, having worked at [Moonwell](https://iq.wiki/wiki/moonwell-finance), TokenSoft, and the [Tezos](https://iq.wiki/wiki/tezos) Foundation. James Coole is a co-founder of TokenSoft, where he served as CTO. Kratik Lodha has experience in analytical roles at various funds. [\\[2\\]](#cite-id-OYL2zmGHP8)\n\n## Investors\n\n[Renzo Protocol](https://iq.wiki/wiki/renzo-protocol) is backed by several prominent investors in the [blockchain](https://iq.wiki/wiki/blockchain) space. In January 2024, the protocol announced a $3.2 million seed funding round led by Maven11. Other participants in this round included IOSG Ventures, Figment Capital, and SevenX Ventures. Additional investors listed by Renzo include [Binance Labs](https://iq.wiki/wiki/binance-labs), [OKX](https://iq.wiki/wiki/okx) Ventures, [Mantle](https://iq.wiki/wiki/mantle-network), Edessa Capital, BODHI Ventures, [Robot Ventures](https://iq.wiki/wiki/robot-ventures), and Re7Capital. [\\[3\\]](#cite-id-HOvH0WkimW) [\\[2\\]](#cite-id-OYL2zmGHP8)\n\n## DeFi Integrations\n\n[Renzo Protocol](https://iq.wiki/wiki/renzo-protocol)'s ezETH is integrated across various [Decentralized Finance](https://iq.wiki/wiki/defi) (DeFi) platforms, allowing users to earn additional yield on their restaked positions. Notable integrations include [Aave](https://iq.wiki/wiki/aave), Spark, and Kamino. Renzo has also integrated with [Pendle Finance](https://iq.wiki/wiki/pendle-finance), enabling the tokenization of ezETH into principal and yield tokens. [\\[2\\]](#cite-id-OYL2zmGHP8) [\\[3\\]](#cite-id-HOvH0WkimW)","summary":"Renzo Restaked ETH (ezETH) is a reward-bearing restaking token in the Renzo Protocol, which users acquire by staking native ETH or liquid staking tokens.","images":[{"id":"QmU3Er7W7uUPKjtf2rBN78y1xnPnvFaRJkfiX4qC1rEJbu","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"tags":[{"id":"Protocols"}],"media":[{"id":"https://www.youtube.com/watch?v=7HAZGP2KeEI","size":"0","name":"7HAZGP2KeEI","type":null,"source":"YOUTUBE"},{"id":"https://www.youtube.com/watch?v=YXT0iZL5r9Y","size":"0","name":"YXT0iZL5r9Y","type":null,"source":"YOUTUBE"},{"id":"QmQ797zPwRpoabJRaR8SpXzdtBeoDcdnsqmzSKBrkXMZNA","name":"download.png","caption":"","thumbnail":"QmQ797zPwRpoabJRaR8SpXzdtBeoDcdnsqmzSKBrkXMZNA","source":"IPFS_IMG"}],"metadata":[{"id":"website","value":"https://app.renzoprotocol.com/restake"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/renzo-restaked-eth/#Chart"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/renzo-restaked-eth"},{"id":"etherscan","value":"https://etherscan.io/token/0xbf5495efe5db9ce00f80364c8b423567e58d2110"},{"id":"bscscan","value":"https://bscscan.com/token/0x2416092f143378750bb29b79ed961ab195cceea5"},{"id":"arbiscan","value":"https://arbiscan.io/token/0x2416092f143378750bb29b79ed961ab195cceea5"},{"id":"contract_url","value":"https://etherscan.io/token/0xbf5495efe5db9ce00f80364c8b423567e58d2110"},{"id":"github_profile","value":"https://github.com/Renzo-Protocol"},{"id":"discord_profile","value":"https://discord.gg/renzoprotocol"},{"id":"twitter_profile","value":"https://twitter.com/RenzoProtocol"},{"id":"references","value":"[{\"id\":\"fAPwSkhKkt\",\"url\":\"https://docs.renzoprotocol.com/docs/products/restaking/ezeth\",\"description\":\"Official Renzo documentation\",\"timestamp\":1750194051214},{\"id\":\"OYL2zmGHP8\",\"url\":\"https://cryptopotato.com/renzo-protocol/#3\",\"description\":\"CryptoPotato explanation of Renzo Protocol\",\"timestamp\":1750194051214},{\"id\":\"HOvH0WkimW\",\"url\":\"https://www.renzoprotocol.com/\",\"description\":\"Renzo Protocol homepage\",\"timestamp\":1750194051214},{\"id\":\"NcJTiVafno\",\"url\":\"https://app.renzoprotocol.com/ezeth\",\"description\":\"Renzo App ezETH page\",\"timestamp\":1750194051214},{\"id\":\"JDjFCt0y57\",\"url\":\"https://www.coingecko.com/en/coins/renzo-restaked-eth\",\"description\":\"CoinGecko EZETH page\",\"timestamp\":1750194051214},{\"id\":\"isotwWDTgX\",\"url\":\"https://thedefiant.io/news/defi/uniswap-and-across-team-up-on-standard-for-cross-chain-trades\",\"description\":\"The Defiant article on cross-chain standards\",\"timestamp\":1750194051214},{\"id\":\"lXYgrIBV73\",\"url\":\"https://cointelegraph.com/news/renzo-ezeth-depegs-688-airdrop\",\"description\":\"Cointelegraph article on depeg\",\"timestamp\":1750194051214},{\"id\":\"i7X01c1Kbf\",\"description\":\"Stripe Adds Crypto Payments, Consensys Sues SEC, Renzo's ezETH DEPEGS\\n\",\"timestamp\":1750194314657,\"url\":\"https://www.youtube.com/watch?v=YXT0iZL5r9Y&t=600s&ab_channel=TheDefiant-DeFi%2CWeb3%26NFTInsights\"}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmUVB6g1TimCsGY8CMXyF2F825GGbLjt1WUG7FBD8ruDHg\""},{"id":"commit-message","value":"\"Expand ezETH article: Add rewards, team, investors, DeFi, TVL; update overview & depeg.\""},{"id":"previous_cid","value":"QmUVB6g1TimCsGY8CMXyF2F825GGbLjt1WUG7FBD8ruDHg"}],"events":[{"id":"BJjwWQ8ian","date":"2023-12","title":"Renzo Mainnet","type":"CREATED","description":"Renzo Restake Launch","link":"https://docs.renzoprotocol.com/docs/product/restake","multiDateStart":null,"multiDateEnd":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum"],"founders":["lucas-kozinski","james-poole"],"speakers":[]}}