Renzo Finance, formerly known as Renzo Protocol, has officially rebranded and unveiled its first onchain structured yield product, Renzo Basis, built on the Hyperliquid network. The launch marks a strategic expansion beyond liquid restaking into automated, market-neutral yield strategies and advanced structured products, announced on September 9, 2026.
The Renzo Basis strategy replicates a classic basis trade: it acquires an asset in the spot market while simultaneously opening an equivalent short position in perpetual futures. Because the directional exposures cancel out, users earn yield exclusively from funding rates — periodic fees paid by perpetual traders. As Renzo Labs founder Lucas Kozinski explained, “because the two sides cancel each other out, the asset’s price movement doesn’t matter. What remains is the funding rate, a fee that traders pay every hour to keep their position open. That fee is the yield users receive.”
The product uses Hyperliquid’s agent (API) wallets to operate on behalf of users without taking custody of funds. It includes three configurable safeguards: a hedge guard, a yield guard, and a safety buffer that automatically manage rebalancing, funding risk, and leverage before liquidation. Kozinski confirmed the system does not use artificial intelligence.
The launch addresses a gap: structured products represent a multi-trillion-dollar category in traditional finance, but onchain equivalents remain scarce due to technical complexity. Renzo Basis launches with initial support for BTC and HYPE, with plans to add all Hyperliquid assets that have both spot and perpetual markets. Renzo Finance also intends to expand to Lighter on Robinhood for onchain equity perpetuals. The protocol positions itself against competitors like Ethena and Bitwise’s Superstate by emphasizing full onchain execution, self-custody, and user-configurable risk parameters, with autocallables and growth notes planned for the future.
