Renzo Protocol

arbitrum

I made a dashboard to track /renzo ETH restaking activity on /arbitrum  https://flipsidecrypto.xyz/santtee/renzo---restaking-on-arbitrum-QpRhf6 Here's a thread on the insights I found while exploring the data

So far, over 250M USD worth of ETH has been locked in the protocol. That's ~4% of the total ETH deposited in the L2. In terms of users, more than 25k active addresses are holding ezETH

Full-stack web3 dev & data engineer @daohaus @raidguild

During the last week, over 19k ezETH has been minted, that's a 24% increase of Renzo TVL on Arbitrum solely

but how much ETH has been actually restaked? So far over 56k WETH deposited in the L2 (~80% of total user deposits) have been periodically bridged back to Ethereum by the Renzo contract using Connext

what about ezETH activity on Arbitrum? During the last couple weeks, more than 1k ezETH has been minted daily, with over 2k active addresses interacting with the token. On the other hand, not much withdrawal (tokens burned) activity has happened since ezETH got live in the network

and last but not least, how's the DeFI activity of the token? ezETH moved more than 200M USD of DEX volume on Arbitrum One. It has been mostly traded through Camelot DEX pools, however there's has been a slight spike in dex activity on UniswapV3 during the last week.

Overall, ETH restaking is currently one of the hottest topics within the ecosystem and is moving a lot of capital into protocols such as Renzo, which enables true native cross-chain restaking for Arbitrum One users *in a few clicks and with near-zero fees*.