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SINGAPORE, Jan. 15, 2024 /PRNewswire/ — OKX Ventures, the funding arm of main Web3 know-how firm OKX, at this time introduced an funding in Renzo, a brand new DeFi Liquid Restaking Protocol, that’s reside on EigenLayer’s Mainnet, permitting customers to restake their ETH and bypass Eigenlayer Liquid Staking Tokens (LST) caps.
The funding is OKX Ventures’ first in tasks that make the most of EigenLayer, the protocol constructed on Ethereum that allows customers to restake their ETH, safe new networks and seize providing extra larger yields. EigenLayer will also be used to restake Liquid Staking Tokens (LST) like stETH.
Renzo efficiently launched its Beta Mainnet on December 18th 2023, attracting USD $20 million in deposits from over 2,000 customers, making it the quickest rising Restaking Protocol on EigenLayer.
OKX Ventures Founder Dora Yue stated: “One of the fascinating and fast-growing sectors of the DeFi world is the EigenLayer ecosystem, which is opening up new frontiers for many who need choices for higher yield by way of re-staking. Renzo is an impressive mission with unimaginable potential to be on the forefront of this revolution. Our funding in Renzo will pave the way in which to help the staff’s development and construct technical compatibility between our giant, DeFi-savvy person base and Renzo’s providers.”
Renzo Founding Contributor Lucas Kozinski stated: “OKX Enterprise’s funding in Renzo is a testomony to the potential of the protocol and the innovation that’s taking place day by day as we contribute to the way forward for decentralized finance. As Renzo scales and prepares for the launch of EigenDA, relationships with main exchanges like OKX will in the end assist to make Renzo essentially the most accessible and easy-to-use ETH restaking resolution within the crypto house.”
For additional info, please contact: [email protected]
About OKX Ventures
OKX Ventures is the funding arm of world main crypto change and Web3 know-how firm OKX, with an preliminary capital dedication of USD100 million. It focuses on exploring the very best blockchain tasks on a world scale, supporting cutting-edge blockchain know-how innovation, selling the wholesome growth of the worldwide blockchain business, and investing in long-term structural worth.
By its dedication to supporting entrepreneurs who contribute to the event of the blockchain business, OKX Ventures helps construct progressive corporations and brings international sources and historic expertise to blockchain tasks.
Discover out extra about OKX Ventures here.
SOURCE OKX Ventures
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