Chainlink Added Price Feed Support For Renzo

Chainlink Added Price Feed Support For Renzo

Chainlink has added price feed support for Renzo, an EigenLayer restaking protocol. 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. 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. 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 the token’s price. Meanwhile, ezETH holders can earn ezPoints and EigenLayer points.

Image: TheNewsCrypto

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