- Renzo has made its second round in recent times.
- Binance Labs has invested an unspecified amount in the project.
- Previously, the company funded another restacking protocol, Puffer Finance.
Binance Labs, the venture capital arm of the eponymous exchange, has invested an unnamed amount in the Renzo project. It is a liquid restocking protocol based on EigenLayer.
We’re excited to announce we have invested in @RenzoProtocol!
Renzo is an LRT and Strategy Manager for EigenLayer. The protocol serves as the interface to the EigenLayer ecosystem by securing AVSs and offering additional yields.
Read more👇https://t.co/hamISS7unm
- Binance Labs Fund (@BinanceLabs) February 22, 2024
This is Renzo’s second round recently. In January 2024, the project raised $3.2 million at the seed stage.
The startup went public in August 2023. The team started fundraising in the fall, and the testnet was launched in December.
Among the developers’ plans is to expand beyond the Ethereum ecosystem. The team is also looking to launch the mainnet after completing the third stage of tests on EigenLayer.
Details of the new round have not been disclosed. It is known that Binance Labs invested funds using the same scheme as the seed stage participants, that is, using token warrants.
Earlier, Binance Labs invested in another liquid restocking protocol – Puffer Finance. In that case, the amount was also not disclosed.
In February 2024, the amount of funds blocked in the restocking protocols reached $3.5 billion.
