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TVL $13MAPY 5.12%medium riskUpdated Feb 1, 2025

ezETH/WETH Convex Deposit

Deposit Curve ezETH/WETH LP tokens into Convex for boosted yields on this Renzo Protocol liquid restaking pool.

ProtocolConvex
Networkethereum
SymbolCVXEZETH-WETH
CategoryYield Vaults
Underlying Assets
ezETHWETHETHCRVCVX
Contract Address0x7b2c7a4e95f7c5f5af98a97e5ac5ba2f49d8f7c2

What is ezETH/WETH Convex Deposit?

This vault optimizes yields for the Curve ezETH/WETH pool through Convex Finance. ezETH is Renzo Protocol's liquid restaking token, representing ETH that is both staked for Ethereum validation and restaked through EigenLayer for additional security services.

Understanding ezETH and Renzo Protocol

Renzo is a liquid restaking protocol that simplifies EigenLayer restaking:

  1. ETH Staking: Underlying ETH earns standard Ethereum staking rewards
  2. EigenLayer Restaking: Staked ETH is restaked to secure Actively Validated Services (AVSs)
  3. Liquid Token: ezETH remains liquid and DeFi-compatible while earning multiple yield sources
  4. Point Systems: ezETH holders accumulate both Renzo points and EigenLayer points

The ezETH/WETH Curve pool provides deep liquidity for ezETH while allowing LPs to earn additional CRV and CVX rewards.

How Liquid Restaking Works

EigenLayer enables a new paradigm called restaking:

  • Validators can opt-in to secure additional networks beyond Ethereum
  • Each additional service (AVS) provides its own rewards
  • Restakers earn stacking yields from multiple sources
  • Renzo abstracts this complexity into a single liquid token (ezETH)

How This Vault Works

  1. Provide ezETH and/or WETH to the Curve pool
  2. Stake resulting LP tokens in Convex
  3. Convex applies veCRV boost for enhanced CRV rewards
  4. Earn from multiple sources: restaking yield, trading fees, CRV, CVX
Yield Sources: ETH staking rewards, EigenLayer restaking rewards, Curve swap fees, boosted CRV emissions, and CVX token incentives.

Fee Structure

Convex standard fees:

  • 16% of CRV rewards to CVX ecosystem
  • No deposit/withdrawal fees

Renzo charges fees on restaking rewards (check current rates on Renzo documentation).

Points and Incentives

ezETH holders may accumulate:

  • Renzo protocol points (REZ eligibility)
  • EigenLayer points
  • Potential AVS token airdrops

These benefits may or may not pass through to LP positions.

Risk Disclosures

Smart Contract Risk: Multi-layer exposure to Curve, Convex, Renzo, and EigenLayer contracts. Restaking introduces novel contract risks. Restaking/Slashing Risk: EigenLayer restaking means ETH secures multiple services. Slashing on any AVS could impact ezETH value. EigenLayer Risk: EigenLayer is new infrastructure. Systemic issues could affect all restaking protocols. Operator Risk: Renzo selects operators to run validators and AVSs. Poor operator performance affects returns. Depeg Risk: ezETH may trade at discount to ETH, especially during market stress or security concerns. Complexity Risk: Multiple yield sources and point systems create complex risk profiles. Regulatory Risk: Restaking may face regulatory scrutiny as a novel financial product.

Related Yield Vaults

USPD/USDC Convex Deposit1.34% APYDOLA/sUSDe Convex Deposit4.65% APYFRAXUSDe Convex Deposit2.50% APYYearn WETH yVault1.82% APYCurve.fi Factory Pool: stETH-ng Convex Deposit1.27% APY
Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.

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