Outside Source
- Renzo Protocol revealed its ezSOL liquid restaking token will soon launch on Jito as Solana’s first LRT.
- The Renzo team is eyeing growth for the DeFi ecosystem on Solana.
Renzo Protocol has announced the launch of ezSOL, the first liquid restaking token (LRT) on Solana.
The collaboration between Renzo and Jito Network will allow JitoSOL holders to mint ezSOL and use the LRT to tap into more decentralised finance (DeFi) opportunities on Solana.
ezSOL will combine Renzo’s liquid restaking expertise with Jito’s MEV-enhanced features to bring the best of decentralised finance and other earning mechanisms to users.
🚀 Introducing $ezSOL: The first LRT on @jito_sol
Renzo Protocol is launching $ezSOL, Solana’s first LRT on the Jito Network. This is set to transform restaking and DeFi on Solana by combining the power of Renzo’s liquid restaking with Jito’s MEV-enhanced validators.
Dive in… pic.twitter.com/VUiKHndqZS
— Renzo (@RenzoProtocol) August 14, 2024
“The launch of $ezSOL marks a pivotal moment for Solana’s DeFi ecosystem. $ezSOL not only bolsters liquidity but also unlocks new strategies for capital efficiency,” Renzo posted on X.
With ezSOL, users can access DeFi protocols such as lending platforms, automated market makers and aggregators. This means one can tap into new opportunities while retaining the benefits available with restaking.
ezETH proposal
Meanwhile, Renzo’s vote on the proposal to list ezETH on Aave V3 Lido Finance Instance. The proposal seeks to add support for borrow/lend for Renzo and its ezETH as collateral on Aave V3.
Voting is live for Renzo’s proposal to list $ezETH to the @aave V3 @LidoFinance Instance!
By adding $ezETH as collateral, Renzo can drive more demand, boost revenues for both Aave and Renzo, and strengthen the liquidity and stability of $ezETH.
This move will make $wstETH…
— Renzo (@RenzoProtocol) August 14, 2024
If the community adopts the proposal, ezETH will go live on the blockchain platform and likely boost the overall revenue across Aave and Renzo. The development also means that wstETH borrowing is now very attractive.
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
