Introduction
Renzo, in partnership with Concrete, is thrilled to announce ezBTC – its first ever Bitcoin-backed liquid restaking asset on EigenCloud. Fully backed by WBTC, ezBTC will generate yield by securing AVSs on EigenLayer.
How ezBTC Works
ezBTC is a reward bearing asset, pegged to WBTC. It is designed to increase in value relative to the underlying asset as rewards accrue. Following the implementation of Decentralized Verifier Networks (DVNs) on LayerZero, and the adoption of the DVN-AVS framework on EigenCloud, stakers can now participate in securing the WBTC cross-chain transfers routes. Rewards are generated from fees charged on cross-chain transfers then auto-compounded into ezBTC via Restaking Auctions (ezAuctions). This only represents the initial use case scenario, with additional implementations planned for the future.
More Rewards
Following the launch of ezBTC, holders will also earn a 3x Concrete points boost, visible from the Renzo Dapp
Security & DeFi Use-case
Withdrawals are enabled from day one. ezBTC is built on the same battle-tested smart contracts proven through ezREZ and ezEIGEN, Renzo’s other tested and audited liquid staking assets.
ezBTC will be integrated into several DEX and lending protocols across DeFi. This includes additional incentives to grow demand and liquidity for trade and redemption.
Looking Ahead
The launch of ezBTC marks a major step in expanding Bitcoin’s role within DeFi and bringing yet another Golden Restaking use-case for the EigenCloud ecosystem.
Get started today via the Renzo Dapp – Secure Networks, Unlock greater rewards!
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