Renzo Restaked ETHezETH Price

ezETH is the liquid restaking token representing a user’s restaked position at Renzo. Users can deposit native ETH or LSTs and receive ezETH.

Rewards

• ezETH is a reward bearing token similar to cTokens

• The underlying restaking positions earn rewards which are reflected in the price of ezETH

• Rewards are expected in ETH, USDC and Actively Validated Services (AVSs) reward tokens.

• This means the value ezETH increase relative to the underlying LSTs as it earns more rewards in AVS tokens

• To mint ezETH, simply go to the renzoprotocol.com/restake and stake your ETH or LSTs

Withdrawals

• Depending on the restaking strategies deployed, unstaking will take a minimum of 7 days, primarily due to EigenLayer unstaking requirements, but will vary depending on each AVS.

• If the deposits and withdrawals are balanced, the rewards are equally distributed regardless of the asset being withdrawn.

• If the deposits and withdrawals are unbalanced, while the principal will be withdrawn in whole the rewards are different for each asset incentivizing the balance based on the jump rate model

Transfers

• Please note, ezETH withdrawals are not enabled. You are encouraged to supply liquidity or sell ezETH on Balancer, that offers a superior mechanism to convert ezETH into ETH for most cases. Visit the ezETH/WETH Balancer Pool.

Fees

• Renzo passes 100% of any EigenLayer rewards

• The fees will be split between protocol reserves (treasury) and Renzo node operators.