The Renzo liquid restaking protocol has announced its entry into the Solana market with the LRT token ezSOL on the Jito platform.
? 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 Jito Network is a set of decentralized protocols focusing on MEV and DeFi infrastructure. The platform supports the largest liquid staking token by capitalization on Solana — JitoSOL.
JitoSOL will serve as the base asset for ezSOL. The collaboration is expected to allow users to increase rewards by combining income from locked assets and MEV.
According to the statement, this will open up new capital utilization strategies, increase liquidity, and enable the use of “ezSOL in various DeFi protocols such as lending platforms, AMM, and aggregators, while maintaining the ability to restake.”
The total value locked in Renzo through Ethereum platforms EigenLayer and Symbiotic amounts to $1.29 billion.
For those interested in participating in liquid restaking on Solana, the project has opened a waiting list.
Back in January, Renzo raised $3.2 million in a seed funding round.