Renzo issues ezETH, a liquid restaking token for Ethereum. You deposit, receive ezETH, and the underlying ETH is restaked to earn additional rewards while your token stays liquid and usable across DeFi.
What stands out about Renzo?
Reach. Our data records ezETH across 13 chains, the broadest multi-chain footprint in this liquid restaking group, alongside 2 independent audits and a track record near 2.7 years. Measured total value locked in our snapshot was about $114.9M with app latency around 271ms. That wide availability is convenient but also means the token's peg has to hold across many venues at once, and liquidity on smaller chains can be thin.
Spreading a single token across many networks is a double-edged design. It makes ezETH easy to use wherever you already are, but it also multiplies the places where a price dislocation can start and the number of bridges and pools that have to function correctly for the peg to stay intact everywhere.
Understand the depeg risk
Liquid restaking tokens can trade below the value of the ETH backing them. ezETH has experienced depeg episodes during periods of market stress and thin liquidity, which is a well-known risk of this token type. Add the usual restaking hazards, extra slashing conditions and multiple smart-contract layers, and the newness of the sector, and it is clear these tokens are higher-risk than plain staking.
Who is Renzo for?
- Users who want restaking exposure available across many chains from one token.
- DeFi participants comfortable actively watching peg and liquidity conditions.
It is not for anyone who wants a set-and-forget position or who cannot tolerate the possibility of ezETH trading below par. Multi-chain convenience is only an advantage if you are prepared to monitor conditions on the chains where you actually hold and use the token.
Our rating
Renzo scores 7.48/10 and ranks 3/15 in our liquid restaking category. Broad reach, audits and a multi-year track record lift the score; the lack of a public status page weighs against it. We do not record a market cap, and we do not track ezETH's yield or fees, which vary; verify them on Renzo's app.