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Chainlink has added price feed support for Renzo, an EigenLayer restaking protocol.
The integration sees the Chainlink Price Feeds available for Renzo’s ezETH on the Ethereum mainnet, Arbitrum and Linea networks, the staking protocol announced on March 21.
Renzo’s growth in the market
Chainlink’s service will enhance Renzo’s DeFi ecosystem, providing for further growth. This will come in the form of user access to secure data feeds.
Platforms like Compound require Chainlink Price Feeds and this integration provides for that. Integrating Chainlink is thus a big boost for Renzo.
The protocol will expand its reach across the liquid restaked ETH and LSTs market. As it grows its market share, the staking protocol will add other Chainlink services, including Chainlink Automation and CCIP.
“Ever since learning about Chainlink at ETH Denver 2018, I’ve been following the protocol and have been impressed with how it has evolved to be the top provider for bringing real-world use cases to smart contracts. Our initial integration of Chainlink Price Feeds is just the beginning,” James, founding contributor at Renzo, said in a statement.
ezETH rewards and points
Renzo’s ETH restaking product allows users to restake ETH and liquid staking tokens (LSTs).
The LSTs include tokens such as stETH and wBETH. ezETH is the token users receive when they restake on Renzo and is crucial to the ETH staking ecosystem.
ezETH shows a user’s restaked position, while rewards are distributed via ETH, USDC, and Actively Validated Services (AVS) reward tokens.
Notably, ezETH rewards automatically reflect in the token’s price. Meanwhile, ezETH holders can earn ezPoints and EigenLayer points.
Renzo recently received a strategic investment from Binance Labs and data from DeFiLlama shows its TVL has spiked to above $1.25 billion.
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