Renzo Joins Forces with Connext to Launch Native Cross-Chain Restaking on Arbitrum

As a liquid restaking protocol and strategy overseer for EigenLayer, Renzo collaborated with the industry-leading interoperability framework, Connext to launch cross-chain restaking on Arbitrum , a Layer 2 scaling solution on Ethereum (ETH). This partnership is designed to enhance user participation in restaking on Arbitrum while also increasing overall liquidity within the network.

Renzo's users will now have the opportunity to partake in the native restaking of ETH on Arbitrum, with possibilities of extending the restaking options to additional Layer 2 networks, including others. This integration makes it more cost-effective to restake, utilizing the reduced fees associated with rollup technology. It presents a fantastic opportunity for a wider audience to easily restake and unstake their assets directly via the supported Layer 2 platforms. BNB Chain , Linea and Base Moreover, Connext's xERC20 token standard will simplify transactions of Liquid Restaking Tokens (LRT) across different chains while ensuring high-level, customizable security.

"Renzo's collaboration with Connext marks a groundbreaking step into native cross-chain restaking using rollups. Our objective is to align incentives and enable EigenLayer's actively validated services (AVS) to be secured by ETH from the ecosystems utilizing EigenLayer,\" remarked Lucas Kozinski, a founding contributor at Renzo.

Through partnerships with a variety of Layer 2 networks,

will push the evolution of restaking primitives into Layer 2 decentralized finance (DeFi) settings, enhancing liquidity, improving capital efficiency, and empowering Ethereum restakers to enhance network security while discovering new opportunities. Renzo Participants who deposit ETH into Renzo's staking smart contracts will receive ezETH as a representation of their stake, with the deposited ETH then being restaked through Renzo’s unique restaking module. To facilitate this process, EigenLayer will harness Connext’s bridging and message-passing capabilities alongside the xERC20 token standard, enabling transfers across chains while avoiding common issues such as slippage, liquidity fragmentation, and security vulnerabilities.

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Renzo Amplifies Its Presence as Interest in Restaking Grows Airdrops Calendar .

Established in 2023, Renzo acts as a bridge to the

ecosystem, safeguarding Actively Validated Services (AVS) while delivering superior yields compared to standard ETH staking. Since its beta mainnet rollout a few months back, Renzo has already amassed over $600 million in Total Value Locked (TVL). EigenLayer Recently, Renzo attracted an undisclosed investment from Binance Labs, the venture capital branch of the prominent crypto exchange Binance, building upon the successful conclusion of its $3.2 million seed funding round raised earlier this year at a valuation of $25 million.

The liquid restaking segment within the Ethereum ecosystem has surged into prominence in the crypto market recently, drawing in significant investment totaling in the billions. This trend was sparked by EigenLayer's launch of a

system on Ethereum last year, and currently, EigenLayer's TVL stands at over $9.8 billion based on data from DeFiLlama. restaking Renzo's recent partnership with Connext represents a substantial leap forward in the realm of restaking, fostering enhanced security and liquidity while contributing to the growth of DeFi.

"Renzo's efforts in establishing restaking standards across Layer 2 networks are unmatched, now bolstered by Connext’s Restake From Anywhere module, addressing fragmentation issues and ensuring a smooth user journey,\" commented Arjun Bhuptani, founder of Connext. \"No matter where users choose to conduct their transactions, they will enjoy natively integrated staking for ETH without the need to leave their current network.\"

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