Binance, the world's largest cryptocurrency exchange, announced that it has invested in Ethereum-based protocol Renzo to support liquid repurchase in the EigenLayer ecosystem.
The statement included the following statements:
“Binance Labs, the venture capital and incubation arm of Binance, has invested in Renzo, a Liquid Retaking Token (LRT) and EigenLayer Strategy Manager created to drive widespread adoption of EigenLayer.
The mission of the protocol is to develop common security on EigenLayer and set the standard for risk management in reacquisition. “
Binance Co-Founder and Head of Binance Labs Yi He said:
“Renzo's technology removes the complexities of Liquid Retaking, enabling more users to participate in Liquid Retake.
At Binance Labs, we are always looking for innovative DeFi projects that offer new use cases, and we look forward to witnessing Renzo's growth in the Liquid Retaking industry.
Renzo is working with enterprise-level node operators to offer local ETH repurchase service. Currently, the protocol supports both native ETH deposits and LST tokens such as stETH and wBETH.”
We’re excited to announce we have invested in @RenzoProtocol!
Renzo is an LRT and Strategy Manager for EigenLayer. The protocol serves as the interface to the EigenLayer ecosystem by securing AVSs and offering additional yields.
Read more👇https://t.co/hamISS7unm
— Binance Labs Fund (@BinanceLabs) February 22, 2024
*This is not investment advice.
