$bzSOL
Last updated
Last updated
bzSOL is Renzo’s Vault (Re)Staking Token (VRT), representing a user’s restaked Binance staked SOL (BNSOL) position on Jito. Users can deposit BNSOL to receive bzSOL, representing their participation in securing Node Consensus Networks (NCNs). Restakers earn staking and restaking rewards, which are automatically compounded into their bzSOL balance.
Liquid Staking: Users can mint bzSOL while maintaining liquidity for use in DeFi.
DeFi Usability: bzSOL can be deployed across Solana DeFi protocols, including lending and AMMs, without requiring the unstaking of SOL.
bzSOL is a reward-bearing token similar to BNSOL
Staking and restaking rewards are automatically redeposited into the protocol, increasing the amount of collateral a user can claim without increasing the asset supply. Thus, the price of the asset increases as rewards are harvested.
This means the value of bzSOL increases relative to the underlying assets as it earns more rewards.
To mint bzSOL, users can deposit either BNSOL or SOL directly through Renzo’s platform. Renzo bzSOL vault on the Jito restaking network only supports BNSOL deposits. However, by integrating Jupiter’s swap API and a custom deposit CPI program, Renzo enables seamless deposits of both SOL and BNSOL. The platform automatically converts the deposited token into BNSOL before completing the vault deposit, ensuring users get the best possible exchange rate—either by swapping through Jupiter or minting BNSOL directly on Binance.
Click Connect Wallet to link your Solana wallet.
Select the asset that you want to deposit: BNSOL or SOL.
Enter the amount of asset that you would like to deposit. You can click MAX to enter the maximum tokens available in your wallet.
Confirm the amount and proceed to deposit.
Approve and confirm the transaction on your wallet.
Once the deposit is successful, you can view your bzSOL in your wallet.
Withdrawals are enabled since day one. Once the withdrawal is initiated, your withdrawal will be queued and be available for claiming after 2 epochs (up to 4 days). Please note that there is a 0.2% withdrawal fee for every withdrawal.
Switch between restake and withdraw functions by clicking the swap arrow button in the center of the dialog box.
Enter the amount of bzSOL tokens that you would like to withdraw. You can click MAX to enter the maximum tokens available.
Confirm the amount and proceed to withdraw.
Approve and confirm the transaction on your wallet.
Once you initiate the withdrawal, you stop accruing any reward on your bzSOL. You can track the status of your withdrawal in the Claims tab located at the bottom of the page, near the NCNs tab.
Once your withdrawal is ready, click the Claim button to collect your assets.
