ezETH
ezETH is Renzo's liquid restaked ETH token.
ezETH is Renzo's liquid restaked ETH token. No direct ezETH/USD Chainlink feed exists on mainnet, so this ICustomPriceFeed adapter derives the backing ratio from Renzo's protocol TVL and the ezETH supply, then converts to USD using the NAV's primary ETH/USD price. An independent cross-rate monitor feed (ETH/USD × ezETH/ETH) is registered as a divergence monitor — if its ezETH rate diverges from Renzo's on-chain rate beyond tolerance, ezETH is flagged irregular without moving its price.
ezETH has two monitors, and only one of them is a market feed. One cross-rate monitor's rate leg is RedStone's multi-feed ezETH_FUNDAMENTAL. Against a fundamental primary that puts both sides of the comparison on fundamentals, so it catches a reporting fault between two independent computations of the same claim but not a market depeg — the thing the tolerance exists to detect.
The second cross-rate monitor carries a genuine market leg, which is what makes the tolerance meaningful. Because divergenceBps is taken against the worst single monitor rather than the median, the market monitor dominates instead of being diluted by the fundamental one sitting near 0 bps, so ezETH's 250 bps tolerance can fire.
The market feed is itself deprecated by RedStone, which is deliberate and bounded: a monitor can never price NAV, and monitors are heartbeat-gated, so a frozen feed self-excludes from the divergence check rather than contributing a stale rate — monitorFeedCount simply drops from 2 to 1, making the degradation observable. Its heartbeat is derived from that feed's own measured cadence rather than copied from the other monitor's. Should both monitors go unreadable, ezETH is reported in NAV.monitorsUnhealthyPriceAssets, so the loss of the check is visible rather than presenting as a clean irregular flag.
Its pair identity is not assertable from the feed contract: RedStone Classic-Push feeds return the constant "Redstone Price Feed" from description(), carrying no pair information, so the rate-feed guard declares this leg $UNVERIFIABLE with a written reason and holds it to the plausibility band and readability checks instead.
Source: ezETH_CustomPriceFeed.sol
Mainnet feed. The L2 deployments use a different oracle composition — see ezETH (L2).
Approach
calculateTVLs().totalTVL ÷ totalSupply (ezETH/ETH) × ETH/USD.
The ETH/USD term is sourced from the NAV's own selector — see Base/USD from the NAV's own selector.
Price calculation
totalTVL
IRestakeManager.calculateTVLs() (18 dec)
Total ETH value restaked via Renzo (read defensively — see below)
totalSupply
IERC20(ezETH).totalSupply()
Circulating ezETH supply
ETH/USD
NAV base — getPriceDataNoDivergence(WETH) (8 dec)
the NAV's primary WETH/USD price
The rate is taken directly from Renzo protocol state rather than a market price. If calculateTVLs() cannot be read or totalSupply() is 0, the feed is marked stale. Output decimals are inherited from the ETH/USD feed (8).
Only the third return value of calculateTVLs() — totalTVL, a plain uint256 — is read; the two nested arrays it also returns are never decoded. That matters because try/catch does not intercept a return-data decode failure (the decode runs in the calling frame, after the call returns), and a nested uint256[][] is the most failure-prone shape to decode: a bad head offset or an absurd length would propagate past the catch and revert the feed instead of degrading to stale.
Constructor
ezEth_
ezETH token address (also the supported underlying)
restakeManager_
Renzo RestakeManager (exposes calculateTVLs())
nav_
NAVCalculator (proxy) — supplies the base asset's USD price via getPriceDataNoDivergence
baseAsset_
the registered base asset whose USD price is read (WETH)
Staleness
getLatestPrice() returns stale if calculateTVLs() reverts, if totalSupply() is 0, or if the derived rate is 0, or if the NAV reports the base asset (WETH) stale — all its feeds stale. The base leg's updatedAt comes from the NAV's selected WETH feed.
calculateTVLs() reads Renzo's internal oracles, whose freshness is not independently checked here — only the NAV's base-asset staleness is. If Renzo's oracles are stale the TVL figure may be stale undetected. This is an architectural constraint of Renzo on mainnet; the L2 adapter avoids it by reading xRenzoDeposit.getRate() directly.
Chains
Deployed on Ethereum. For the rollup deployment, see ezETH (L2).
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