Today, Hyperlane introduces the next phase of the Renzo integration: interchain expansion for pzETH, one the first Mellow LRTs on Symbiotic to expand beyond Ethereum. The first bridge route to Zircuit is live: renzo.hyperlane.xyz.
With over $1B in bridging volume for Renzo assets, Hyperlane leads the interchain liquidity growth for Renzo. Hyperlane’s secure bridging infrastructure and Renzo’s additional Symbiotic validators empower users to safely and seamlessly use pzETH across more chains. Bridging happens in moments, without worrying about slippage or liquidity pools.
Renzo pzETH with Symbiotic
Renzo’s pzETH is a liquid restaking token, created with Mellow Protocol, representing a user’s restaked position within the Symbiotic shared security ecosystem. With Renzo’s management, users can deposit stETH, wstETH, wETH, or ETH to provide economic security to Symbiotic. In turn, users receive liquid pzETH as well as Renzo, Mellow, and Symbiotic points.
With Symbiotic’s customizable risk-mitigation parameters and Mellow’s modular platform for creating LRTs like pzETH on Symbiotic, Renzo is able to curate operator-specific vaults. This means that Renzo has custom delegation strategies across specific operators that provide security for use cases like bridging, oracles, and ZK processing.
App Specific Security
In addition, those same Renzo-selected operators are also used for securing Renzo asset bridging with Hyperlane, adding an additional layer of security. At launch on Zircuit, Renzo’s own validator and Luganodes will provide an app-specific validator set beyond Hyperlane’s default validator set on Zircuit.
Expanding Mellow LRT Distribution
Renzo is a leader in liquid restaked assets — its pzETH Mellow Vault has about $150M in TVL, representing a quarter of all Mellow TVL.
Now pzETH is becoming the one of the first Mellow LRT Curators to achieve interchain expansion, a major milestone for the ecosystem. Going interchain with Hyperlane unlocks new liquidity opportunities with each new chain & DeFi ecosystem reached for Renzo, while driving more rewards back into Mellow Finance & increasing economic security for Symbiotic.
Using Hyperlane Warp Routes, Renzo pzETH has the flexibility to expand its distribution anywhere within the Hyperlane network, as well as to add additional Symbiotic operators to secure pzETH.
Catalyzing Zircuit’s Ecosystem
Zircuit is a high throughput, low gas fee ZK Rollup designed to scale DeFi applications. By extending pzETH to Zircuit, this opens new staking, lending, and composable DeFi opportunities for its growing ecosystem of over 30 major defi apps live now on Mainnet. Attracting novel defi assets like pzETH helps spark Zircuit’s growth and stand out in the rollup landscape. Anyone can use Hyperlane to bridge assets to Zircuit in just two CLI commands and a UI that works out of the box.
Try pzETH on Zircuit now
This is just the beginning for Renzo’s pzETH interchain growth. As it leads the charge to expand Mellow LRTs interchain, Hyperlane will continue to play a key role in driving this interchain expansion.
Ready to bring your pzETH to Zircuit? Head to the official Renzo bridge, with the routes also available on Superbridge.
Want to learn more about using Hyperlane Warp Tokens to bring your asset interchain, or using Hyperlane to grow your chain’s defi ecosystem? Get in touch or see the Hyperlane docs.
More about Hyperlane
Hyperlane is the open interoperability framework. It empowers developers to connect anywhere onchain and build applications that can easily and securely communicate between multiple blockchains. Importantly, Hyperlane is fully open-source and always permissionless to build with.
