We are very excited to announce that Renzo, the restaking hub for EigenLayer, has successfully integrated Chainlink price oracles and has implemented this integration on Ethereum Mainnet, Arbitrum, and Linea. By integrating this industry-leading decentralized computing platform, Renzo’s ezETH now has access to high-quality, tamper-proof price oracles, allowing for safer and more extensive smart liquidity restaking strategies. This ultimately provides Renzo users with the industry-standard price data they need for DeFi integrations.
Renzo’s Deep Collaboration with Chainlink
Renzo’s ezETH integration with Chainlink allows for new DeFi integrations that require Chainlink price oracles, including Compound Finance. Chainlink was selected as Renzo’s preferred oracle solution because its infrastructure is easy to integrate and has been time-tested in production. As the most widely adopted price data standard in Web3, Chainlink has helped protect billions of dollars in leading DeFi protocols, maintaining strong security and high availability even during unexpected events such as exchange outages, flash crashes, and data manipulation attacks through flash loans.
Core Features of Renzo
Renzo provides access to liquidity for re-collateralized ETH and LSTs through ezETH. As a layer on top of EigenLayer, Renzo simplifies the selection and delegation complexity of EigenLayer node operators and active validation services (AVS). ezETH holders can earn re-collateralization rewards, including ETH, USDC, and active validation service reward tokens. These rewards are automatically reflected in the price of ezETH, allowing recipients to not worry about claim costs or waiting periods. Not only does this add additional rewards compared to other LSTs, Renzo users can also earn ezPoints and EigenLayer points.
To help protect Renzo's asset deposits and pricing logic, the latest asset prices need to be accessible directly on-chain in a highly reliable manner. Fair market asset prices should reflect the volume-weighted average of all trading environments. Therefore, Renzo needs to leverage an oracle network to obtain aggregated price data off-chain and pass it on-chain for use.
Why Chainlink Price Oracles
After evaluating various oracle solutions, Renzo chose Chainlink Price Oracles because they offer multiple key features, such as:
High-quality data: Chainlink price oracles source data from numerous high-end data aggregators, resulting in price data aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trades. Chainlink's data aggregation model generates more accurate global market prices, naturally resistant to inaccuracies or manipulation by any single or small number of exchanges.
Secure node operators: Chainlink price oracles are protected by independent, security-reviewed, and Sybil-resistant oracle nodes, which are run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes undergo rigorous security reviews, ensuring data reliability and security.
High availability and robustness: Chainlink price oracles also maintain high availability and robustness during unexpected events. For example, Chainlink can still provide reliable data services in the event of exchange downtime, flash crashes, and data manipulation attacks through flash loans.
Seamless integration: Chainlink's infrastructure design makes its integration with Renzo very smooth. Whether it is technical implementation or operational maintenance, Chainlink provides excellent support and tools, making the whole process easy and efficient.
Future Outlook of Renzo
By integrating with Chainlink, Renzo not only improves the security and reliability of its platform, but also provides users with more DeFi integration opportunities. This partnership enables Renzo to stand out in the competitive DeFi market by providing its users with smarter and safer liquidity re-staking strategies.
Renzo's ezETH not only provides additional rewards, but also simplifies the user's operational experience by automatically reflecting rewards in the price. This innovative solution makes Renzo occupy an important position in the evolving blockchain and DeFi world.
Conclusion
Renzo's cooperation with Chainlink is an important milestone, marking a new height in security, reliability and user experience for DeFi platforms. Through this cooperation, Renzo not only improves the overall performance of its platform, but also provides users with more opportunities and choices. In the future, as more DeFi integrations are realized, Renzo will continue to play an important role in the blockchain field and promote the development and innovation of the industry.
Through this deep cooperation, Renzo has not only achieved breakthroughs in technology, but also achieved significant improvements in user experience and market competitiveness. This successful cooperation has set an example for other DeFi platforms and demonstrated the possibility of achieving excellent user experience through technological integration and innovation.