Renzo Protocol Renames to Renzo Finance and Launches Hyperliquid Basis Trading Product

ChainCatcher report: The restaking protocol Renzo Protocol has announced its rebranding to Renzo Finance and launched its first on-chain structured yield product, Renzo Basis, which will go live on Hyperliquid with initial support for BTC and HYPE. Lucas Kozinski, founder of Renzo Labs, explained that basis trading generates revenue by simultaneously holding a spot long position and a perpetual short position, capturing funding rate payments; since the long and short positions hedge each other, asset price volatility does not affect returns—users earn fees paid hourly by perpetual traders. Renzo stated that the product is automated through a triple-layer protection mechanism: hedging protection, yield protection, and safety buffer. Currently, the product does not use AI automation but instead leverages Hyperliquid’s proxy wallet (API wallet) to execute trades and monitor strategies under user authorization, without holding user funds; all protection parameters are customizable by users. Renzo emphasized that its product differs from competitors such as Ethena and Bitwise’s Superstate by being fully on-chain, self-custodial, and allowing depositors to independently select assets, trading venues, and risk parameters. Renzo Basis plans to expand support to all assets on Hyperliquid that offer both spot and perpetual markets, and will extend to other DeFi platforms next—starting with Lighter on Robinhood, introducing on-chain stock perpetual basis trading.