ezSOL, the newest liquid staking token (LRT), will be launched on the Jito network using the Renzo protocol. Users can mint ezSOL using jitoSOL as the underlying staked asset. Thanks to Jito’s MEV-enhanced validators, more DeFi and liquid staking features will be accessible in this release.
Renzo serves EigenLayer and Symbiotic with liquid restaking tokens. Renzo’s ezETH and pzETH act as the interface for the EigenLayer and Symbiotic ecosystems. With ezETH and pzETH, the goal is to create staking and restaking incentives and safeguard actively validated services.
The “Jito Network” is a distributed Solana-based protocol that allows users to stake SOL to validators engaged in effective block organization and get a liquid staking token (JitoSOL). The DAO can make changes to the protocol source code or related parameters. Anyone can access the Jito Network.
The ezSOL release marks a significant development for Solana’s DeFi ecosystem. ezSOL encourages creative approaches to capital efficiency and enhances liquidity. Restaking will still be available even if users of ezSOL can use several DeFi protocols, including aggregators, lending platforms, and AMMs. Due to its growing composability, SOL becomes more flexible and helpful in the DeFi space, therefore enhancing the value of the Solana ecosystem.
Solana’s low costs and short settlement times on ezSOL will allow users to rebalance NCN positions rapidly for the best risk-adjusted returns. DeFi strategists and stakeholders will find ezSOL valuable since it protects the network and opens fresh opportunities inside the Solana ecosystem.
Source: https://blockchainreporter.net/renzo-launches-ezsol-on-jito-transforming-liquid-restaking-defi-and-more/