Renzo

Renzo is a decentralized finance protocol, represented by its token REZ, that aims to make professional-grade yield strategies accessible to ordinary users without requiring them to give up custody of their assets. Its debut product, Renzo Basis, runs a delta-neutral strategy on Hyperliquid, pairing a spot position with an equal-sized perpetual short so that price movements cancel out and yield comes from funding rates paid by leveraged long traders. The protocol is designed for anyone who wants exposure to structured yield strategies that would traditionally require a professional trading desk.

Renzo Basis operates directly inside accounts that users own and control, meaning the protocol never pools or takes custody of funds. The strategy buys spot on an asset — currently BTC and HYPE — while simultaneously shorting an equal-sized perpetual on the same asset; funding rates, which leveraged longs pay to shorts and which settle hourly, are the source of yield. REZ is the protocol's native token and sits within the Ethereum and Base ecosystems, with 9,037,382,721 tokens currently in circulation out of a maximum supply of 10,000,000,000.

Renzo generated 225,556.85 USD in total fees over the trailing 30 days, with an annualized fee run-rate of 2,744,275.01 USD based on that same period. The protocol retains a take rate of approximately 15.10% over the trailing 30 days, meaning it kept roughly 34,059.12 USD in protocol revenue during that window while the remainder, 191,497.73 USD over the same 30 days, went to the supply side — that is, to users providing the capital that the strategies deploy. Both fees and protocol revenue declined by approximately 20% over the last 30 days, indicating that recent activity has been lower than the period before it.