Restaked Binance Staked SOLPrice

(BZSOL)

Restaked Binance Staked SOL, known as bzSOL, is a vault receipt token within the Web3 ecosystem. It functions as Renzo Protocol's Vault (Re)Staking Token (VRT), representing a user's restaked position using the BNSOL token, which is Binance Staked SOL. Essentially, bzSOL is a tokenized representation of staked Solana (SOL). The primary purpose of bzSOL is to allow users to participate in securing Node Consensus Networks (NCNs). Users deposit BNSOL or SOL tokens to receive bzSOL. This mechanism enables individuals to stake their SOL tokens and earn rewards while still maintaining liquidity, a benefit not typically found in traditional staking methods. When users hold bzSOL, they generate staking and restaking rewards, which are automatically compounded either in BNSOL or by increasing the value of bzSOL itself relative to its underlying assets. The Renzo platform facilitates deposits of both SOL and BNSOL, automatically converting SOL into BNSOL before it enters the vault. Key features of bzSOL include liquid staking, which allows users to mint bzSOL while keeping their assets liquid for use in decentralized finance (DeFi). This means bzSOL can be used across various Solana DeFi protocols, such as lending platforms and automated market makers (AMMs), without needing to unstake the underlying SOL. Restakers can earn staking, restaking, and Maximal Extractable Value (MEV) rewards. Renzo Protocol, the entity behind bzSOL, emphasizes security through institutional-grade node operators, robust security measures, regular audits, and an open-source approach. bzSOL operates on the Solana blockchain. Users can mint bzSOL by depositing SOL or BNSOL, and withdrawals are generally available, though they may involve a queueing period and associated fees. Learn more

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