• Renzo Protocol has announced that its ezSOL liquid resttaking token will soon launch on Jito as Solana’s first LRT.
• The Renzo team expects the DeFi ecosystem on Solana to grow.

Renzo Protocol has announced the launch of ezSOL, the first liquid resttaking token (LRT) on Solana.

Thanks to the partnership between Renzo and Jito Network, JitoSOL holders can mint ezSOL and use the LRT to leverage more decentralized finance (DeFi) opportunities on Solana.

ezSOL combines Renzo’s liquid restaking expertise with Jito’s MEV-enhanced features to bring users the best of decentralized finance and other earning mechanisms.

🚀 Introduction $ezSOL: The first LRT on @jito_sol

Renzo Protocol is launched $ezSOLSolana’s first LRT on the Jito Network. This is intended to transform resttaking and DeFi on Solana by combining the power of Renzo’s liquid resttaking with Jito’s MEV-enhanced validators.

Dive in… photo.twitter.com/VUiKHndqZS

— Renzo (@RenzoProtocol) August 14, 2024

“The launch of $ezSOL marks a pivotal moment for Solana’s DeFi ecosystem. $ezSOL not only bolsters liquidity but also unlocks new capital efficiency strategies,” Renzo posted on X.

With ezSOL, users have access to DeFi protocols such as lending platforms, automated market makers, and aggregators. This means that they can tap into new opportunities while still retaining the benefits of resttaking.

ezETH proposal

Meanwhile, Renzo voted on the proposal to list ezETH on Aave V3 Lido Finance Instance. The proposal aims to add support for lending/borrowing for Renzo and his ezETH as collateral on Aave V3.

Voting is live for Renzo’s proposal to be noted $ezETH to the @aave V3 @LidoFinance Construction!

By adding $ezETH As collateral, Renzo can generate more demand, increase revenues for both Aave and Renzo and enhance the liquidity and stability of $ezETH.

This move will $wstETH…

— Renzo (@RenzoProtocol) August 14, 2024

If the community accepts the proposal, ezETH will go live on the blockchain platform and will likely increase Aave and Renzo’s total revenue. The development also means that wstETH lending is now very attractive.