🌎 Renzo Protocol Introduces ezSOL, Solana’s First Liquid Restaking Token

Renzo Protocol is expanding its liquid restaking expertise to the Jito ecosystem on Solana. According to an announcement on Aug. 14, Renzo is launching ezSOL, the first liquid restaking token on Solana.

Having established itself in the decentralized finance world with liquid restaking expertise for Ethereum-based protocols EigenLayer and Symbiotic, Renzo is now advancing the LRT market with ezSOL on the Jito Network. ezSOL joins ezETH and pzETH, the LRTs on EigenLayer and Symbiotic, respectively. The launch of this new liquid restaking token is in collaboration with the Jito Foundation.

The Significance of ezSOL

Renzo is Ethereum’s third-largest liquid restaking protocol by total value locked (TVL). According to data, Renzo’s TVL is currently over $1.29 billion, trailing Puffer Finance with over $1.33 billion and ether.fi with over $5 billion.

The Jito Network allows users to earn from maximum extractable value (MEV) and decentralized finance (DeFi) protocols on Solana. This focus on MEV and DeFi is powered by JitoSOL, the largest liquid staking token in the Solana ecosystem. Renzo aims to bring maximum value for these stakers, and the restaking option offers just that. The expansion will enable JitoSOL holders to mint ezSOL using their JitoSOL tokens, allowing them to benefit from the compounding of rewards across staking, restaking, and MEV extraction.

Additional Usability for SOL in DeFi

Beyond boosting network liquidity, ezSOL unlocks new DeFi opportunities for the community, including:

Lending
Automated market making
Aggregators

The LRT token will help power these strategies, providing capital efficiency while allowing users to retain their exposure to restaking. Renzo states that this composability will bolster the overall flexibility and usability of Solana’s native token, SOL.

Using ezSOL on Solana will benefit from the blockchain network’s low fees and fast transaction settlement.