Renzo Protocol has revealed that ezSOL liquidity restaked tokens will soon launch on Jito as Solana’s first LRT.
The Renzo team is focused on the growth of the DeFi ecosystem on Solana.
Renzo Protocol has announced the release of ezSOL, Solana’s first liquidity re-staking token (LRT).
The collaboration between Renzo and Jito Network will enable JitoSOL holders to issue ezSOL and use LRT to leverage more decentralized finance (DeFi) opportunities on Solana.
ezSOL combines Renzo’s liquidity restakage expertise with Jito’s MEV enhancing capabilities to provide users with the best of decentralized finance and other revenue mechanisms.
🚀 Introducing $ezSOL: @jito_sol's first LRT
Renzo Protocol is releasing $ezSOL, Solana's first LRT on the Jito Network, which is set to transform restakage and DeFi on Solana by combining the power of Renzo's liquid restakage with Jito's MEV-enhanced validators.
Let's 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 enhances liquidity, but also unlocks new strategies for capital efficiency,” Renzo posted on X.
ezSOL gives users access to DeFi protocols such as lending platforms, automated market makers and aggregators, meaning they can take advantage of new opportunities while still retaining the benefits that come with re-staking.
ezETH Proposal
Meanwhile, Renzo voted for a proposal to list ezETH on the Aave V3 Lido Finance instance. The proposal aims to add support for borrowing/lending with Renzo and its ezETH as collateral on Aave V3.
Voting is now open on Renzo's proposal to list $ezETH on the @aave V3 @LidoFinance instance.
By adding $ezETH as collateral, Renzo can increase demand, increase revenue for both Aave and Renzo, and strengthen the liquidity and stability of $ezETH.
This move has caused $wstETH to…
— Renzo (@RenzoProtocol) August 14, 2024
If the community adopts this proposal, ezETH could go live on the blockchain platform, potentially increasing revenue for Aave and Renzo overall. This development also means that borrowing wstETH has become very attractive.
