Renzo partners with Gito to launch LRT token ezSOL.
Renzo Protocol announced that its ezSOL liquid recovery token will soon launch Solana's first LRT on Gito.
Renzo's team is anticipating growth for the DFi ecosystem on Solana.
Renzo Protocol has announced the launch of ezSOL, the first Liquid Recovery Token (LRT) on Solana.
The collaboration between Renzo and Jito Network will allow GitoSol owners to mine ezSOL and take advantage of decentralized finance (DeFi) opportunities on Solana using LRT.
ezSOL combines Renzo's liquidity recovery capabilities with Gito's MEV-enhanced features to bring the best of decentralized finance and other monetization methods to users.
🚀 Introducing $ezSOL: the first LRT on @jito_sol
Renzo Protocol is launching $ezSOL, Solana's first LRT on the Gito network. This combines Renzo's Liquid Repository power with Gito's MEV-enhanced validators and is set to revolutionize blockchain and DeFi on Solana.
Dive in… pic.twitter.com/VUiKHndqZS
— Renzo (@RenzoProtocol) August 14, 2024
“The launch of $ezSOL is an important moment for the Solana DeFi ecosystem. $ezSOL not only strengthens liquidity but also opens up new strategies for capital efficiency.
With ezSOL, users can access DeFi protocols such as lending platforms, automated market makers and aggregators. This means that one can take advantage of new opportunities while retaining the existing benefits of repossession.
ezETH proposal
Meanwhile, Rezo voted on the proposal to list ezETH on the Aave V3 Lido Finance Instance. The proposal seeks to add lend/lease support to Renzo and his ezETH as collateral on Aave V3.
It's a live vote for Renzo's idea to list $ezETH to the @aave V3 @LidoFinance instance!
By adding $ezETH as collateral, Renzo can generate additional demand, increase revenue for both Aave and Renzo, and strengthen the liquidity and stability of $ezETH.
This step will make $wstETH…
— Renzo (@RenzoProtocol) August 14, 2024
If the community accepts the proposal, ezETH will work directly on the blockchain platform and increase the total revenue of Aave and Renzo. The development also means that borrowing wstETH is now very attractive.
