Renzo rebrands as Renzo Finance, launches onchain yield product

Ethereum restaking platform Renzo Protocol (REZ) is rebranding as Renzo Finance and launching an onchain yield product called Renzo Basis, The Block reported. The product is designed to take a spot long position and a perpetual futures short position simultaneously on Hyperliquid, with both positions sized equally to reduce exposure to price swings and generate returns from perpetual futures funding rates. It will initially support BTC and HYPE. Renzo does not directly custody user funds and instead uses Hyperliquid’s API wallet to automate position construction and monitoring. The company plans to expand into other DeFi platforms and additional structured products.