$pzETH
Last updated
Last updated
Introduction to $pzETH
$pzETH is a liquid restaking token representing a user’s restaked position within the Symbiotic ecosystem. Users can deposit $stETH, $wstETH, $wETH, or $ETH to receive $pzETH in return. Serving as the interface to the Symbiotic ecosystem, $pzETH secures Actively Validated Services (AVSs) to generate both staking and restaking rewards.
How $pzETH Works
Upon depositing their assets, users receive $pzETH, which automatically provides economic security to AVSs within the Symbiotic ecosystem associated with Renzo. Users don’t have to manage restaking strategies, interface with smart contracts themselves, or set up the hardware necessary for restaking. Renzo does it all, making it ezpz for the user.
Key Features
Withdrawals: $pzETH can be withdrawn from day one and is fully redeemable for the underlying restaked collateral.
Enhanced Rewards: By participating in Symbiotic’s restaking protocol, users can participate in both $ETH staking and restaking.
Understanding Symbiotic
Symbiotic is a permissionless restaking protocol that coordinates node operators and economic security providers. It allows users to restake their assets to support various decentralized applications (DApps) and services, including rollups, interoperability infrastructure, and oracles, in exchange for rewards.
For more detailed information, refer to the Symbiotic documentation here: .
Mellow & Symbiotic Points
Mellow Points: 1 point per hour for each underlying $wstETH
Symbiotic Points: 1 point per hour for each underlying $wstETH
Please note that there may be caps on Symbiotic deposits that limit the amount of points generated. Renzo will continuously deploy new collateral to the Symbiotic ecosystem and aims to have as high a utilization rate as possible.
Detailed Mechanics
When users deposit an asset, they receive $pzETH based on the current ratio of collateral to $pzETH within the underlying pool. The deposited asset becomes underlying collateral that is delegated to node operators associated with Renzo. These operators, meeting stringent standards, provide economic security to AVSs. In return, the AVSs reward the providers of the collateral ($pzETH holders). DeFi Integrations
Stay tuned for upcoming DeFi integrations with $pzETH. The official list of integrations is available here: . For the latest updates, follow us on X @.