pzETH FAQs
Q: How to get pzETH
A: You can deposit stETH, wstETH, wETH, or ETH to receive pzETH here: https://app.renzoprotocol.com/pzeth
Q: What do I get by staking pzETH?
A: Staking yield from ETH staking + Symbiotic points + Mellow points + AVSs rewards when they go fully functional
Please note that there may be caps on Symbiotic deposits that limit the amount of points generated.
Q: If I deposit pzETH, will I get Symbiotic/Mellow points?
A: Users who deposited before Symbiotic limits were reached:
Earn 1x Symbiotic points and 1x Mellow points
Users who deposited after Symbiotic limits were reached:
Earn 1.5x Mellow points boost while their liquidity remains idle in Mellow vaults (No Symbiotic points yet)
Once limits increase and their deposits entered Symbiotic, users will start earning 1x Symbiotic points and 1x Mellow points
There are multipliers for utilizing DeFi integrations. Please refer to https://app.mellow.finance/defi for more info.
Q: How do I check Symbiotic Caps / Limits
A: You can check the wstETH caps directly on https://app.symbiotic.fi/restake. You can follow their socials to stay updated when they raise their limit.
Q: What if I get pzETH from DEX or other DeFi integrations, will I get Symbiotic points?
A: When users buy pzETH from a liquidity pool, they will be treated as pzETH that is not staked in Symbiotic i.e. Earn 1.5x Mellow Points until Symbiotic limits open.
If a user buys more pzETH than the amount in the Mellow waiting queue , they’ll receive non-staked pzETH points plus a portion of the staked pzETH to fulfill the buy order.
This last-in-first-out principle applies to other DeFi integrations as well.
For more information please read Mellow’s doc here.
Q: How is the $pzETH exchange rate calculated?
A: pzETH is a reward bearing token like Compound’s cTokens. Once AVSs begin distributing rewards, these will be automatically restaked and compounded, which will be reflected in pzETH's price. This process allows pzETH to continuously accrue value relative to wstETH.
Q: What can you do with pzETH?
A; Hold pzETH in your wallet to collect rewards, swap or supply pzETH on DEXs, or participate in DeFi opportunities as pzETH is integrated into various DeFi applications. See a full list of Renzo's DeFi integrations here.
Q: How to withdraw pzETH?
A: From day one, you can withdraw your pzETH and fully redeem it for the underlying restaked collateral. To withdraw your pzETH and receive wstETH, visit https://app.renzoprotocol.com/pzeth. You can easily switch between deposit and withdraw functions by clicking the swap arrow button in the center of the dialog box.
Click Withdraw and approve the transaction. Please note that you'll stop accruing points for the withdrawn LRT after requesting a withdrawal. Withdrawals are processed within 14-21 days, after which you'll receive your assets in your wallet.
Q: How to check my withdrawals?
A: At the bottom of the pzETH page, at the bottom, there’s a Claim section where you can view your claim progress.
Q: Are AVSs live yet on Symbiotic/Mellow? Where can I see the list?
A: AVS is not yet functional on Symbiotic/Mellow. When it goes live, you can see the list of the AVSs along with the stats at the bottom of the pzETH page.
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