Renzo
Best for independently tracked protocol
How it rates
- Audit report linked from a public dataset
- No accounting methodology published at this check
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- MetIndependent audit report linked publicly
Audit report linked from the public protocol dataset.
docs.renzoprotocol.com/docs/security/audits - Met
- MetTracked by an independent analytics platform
Listed with published TVL and history.
defillama.com/protocol/renzo - Not metAccounting methodology published in the dataset
No methodology published at this check.
defillama.com/protocol/renzo - MetApplication reachable at a public address
Reachable without an account at this check.
app.renzoprotocol.com/restake
- MetApplication reachable without an account
Reachable without an account at this check.
app.renzoprotocol.com/restake - MetProtocol economics published independently
TVL and change history published.
defillama.com/protocol/renzo - Not met
- PartialFee or reward model documented publicly
Application reachable for review; specific rates not captured at this check.
app.renzoprotocol.com/restake - MetNo account required to reach the application
Reachable without an account at this check.
app.renzoprotocol.com/restake
- Met
- Not met
- Not met
- Met
- MetListed on the dataset for over a year
Listing date recorded in the dataset.
defillama.com/protocol/renzo
- Met
- Met
- Met
- Met
- Not met
- Met
- Met
- Met
- Not met
- Met
A liquid restaking protocol deployed across 13 chains, holding $91m with published audits and a documented 2024 depeg episode.
Our assessment
Renzo holds $91m across 13 chains — the widest deployment in liquid restaking — with two audits and reports linked. In April 2024 its token traded substantially below the value of the underlying assets, and that episode is the most instructive thing in its history.
What happened in April 2024
Confusion around an airdrop allocation triggered heavy selling of ezETH. Because restaking tokens cannot be redeemed instantly, the only exit was the secondary market, which was far too thin to absorb the flow. The price fell well below the underlying value and liquidated leveraged positions built on the assumption that it would not.
The lesson generalises to the whole category
A restaking derivative's price holds only while secondary liquidity is adequate and redemption is available. Neither condition holds under stress, which is exactly when people want to exit. Anyone using a restaking token as collateral is assuming a peg that has already broken once, sector-wide.
Wide deployment, modest depth
Thirteen chains sounds like reach and in practice divides liquidity: each deployment has its own market, and none is deep. The relevant number is depth where you hold, not the total across all chains.
Who it suits
Renzo fits users who want restaking across many chains and understand the depeg history. Users planning to use a restaking token as leverage collateral should reconsider — that is the position the 2024 episode destroyed.
Frequently asked
Does this score mean Renzo is safe?
No. It measures what an outsider can verify: linked audits, published methodology and independently recorded market data. Contract risk is not tested by us.
Where do the TVL and audit figures come from?
A public analytics dataset queried at the verification date, plus the audit reports it links. Both are re-runnable by anyone.
Why do some protocols score zero on audits?
Because no audit report is linked in the public record. The indicator records what a user can reach, not a claim that no audit exists.