The Renzo protocol manages $2.9 billion in user deposits as of April 9—a hefty difference from other protocols. The surge in deposits is primarily attributed to the EigenLayer protocol, with Ether.fi alone receiving over $1.5 billion worth of deposits in the past month. Stakers on Ether.fi will also earn a share of $500K USD worth of ZK tokens, accessible via the EigenLayer protocol.
This protocol, built on top of the Ethereum blockchain, allows users to stake their ETH or Liquid Staking Tokens (LSTs) across multiple protocols. Liquid restaking through EigenLayer offers the benefit of participating in diverse services while retaining the liquidity and accessibility of users’ ETH capital. Protocols like Ether.fi and others continue to accept ether deposits, restaking them and issuing derivative tokens, such as Liquid Restaking Tokens (LRTs).
This provides users additional incentives to engage with the ecosystem and draws in deposits on LRTs, further boosting the Total Value Locked (TVL). LRT protocols also provide an alternative for users lacking the 32 ETH required for native or direct staking. This accessibility has contributed to the massive asset accumulation within the top protocols, which now totals $9.7 billion.
Additionally, EigenLayer is listed as a node operator on the Goerli testnet, showcasing its role and presence in the network.