On April 28th, The First trading platform released an official announcement that REZ (Renzo) will be listed on April 30th at 21:00 (UTC + 8), and the REZ/USDT trading pair will be opened simultaneously.
In the past two years, Restaking has undoubtedly been one of the hottest narratives in the crypto field. The Ethereum head re-staking protocol EigenLayer TVL exceeds 770,000 ETH , and multiple deposit windows have reached the opening limit in a very short time. The re-staking protocol Renzo based on EigenLayer has been online for only three months, and TVL has exceeded $100 million , and this growth was basically achieved in January this year.
What advantages does Renzo have to occupy a place in the Restaking track?
What is REZ (Renzo)?
Renzo is an Ethereum re-staking protocol provided by EigenLayer, which aims to allow users to re-use staked ETH (ether) for higher returns. The protocol ensures the safety of users' assets through smart contract technology and provides efficient staking and unstaking processes.
Renzo's positioning is based on the liquidity re-staking protocol of EigenLayer. The project mainly aims to solve the two major pain points of directly re-staking through EigenLayer: first, the liquidity of ETH will also be locked after re-staking. Renzo's solution is to use the derivative token ezETH to release the liquidity of re-staked ETH; second, as the number of EigenLayer active verification services (AVS) increases, different AVS configuration strategies will present completely different returns and risk situations. At this time, Renzo can use its algorithm to balance returns and risks in real time, replace users to make complex configuration choices, and help users achieve stable high returns.
In short, compared to EigenLayer, Renzo significantly simplifies the operation process. The complexity of EigenLayer lies in the fact that it requires users not only to actively manage each node, but also to actively participate in verifying services and handling various token rewards, while Renzo makes these simpler. Users can not only maintain asset liquidity while obtaining services, but also do not need to participate in complex node management.
REZ (Renzo) Token Economics
The total supply of REZ will be 10 billion tokens, and the circulating supply at the time of listing will be 1.05 billion tokens, accounting for about 10.50% of the total token supply. The specific distribution mechanism is as follows.
From the perspective of token unlocking progress, since the beginning of circulation, the circulation proportion of REZ will remain relatively low in the next year. The token supply during this period is mainly composed of Binance Launchpool and airdrop shares. However, starting from the end of Q1 next year, the circulation supply of REZ will enter an accelerated stage, and investors need to pay attention to this time node.
According to The Block, Renzo announced the completion of a $3 million seed round of financing led by Maven11, with participation from OKX Ventures, IOSG Ventures, Figment Capital, and SevenX Ventures. According to OKX Ventures, this is their first announced investment in the EigenLayer ecosystem. Additionally, Binance Foundation announced its investment in Renzo on February 22, but the specific amount was not disclosed.
Currently, there is no over the counter price for EZ tokens, and they can only be traded through points on the Whales platform. The unit price is $0.12, Currently, the points price is trending downward. It is expected that the exchange ratio between points and tokens may be 1:1. Depending on the performance of similar projects in the early stages, the profits of Binance mining, and the distribution of existing chips, the price of Renzo tokens after their launch may be affected by these factors. Therefore, the market price of REZ still needs to be analyzed specifically based on the market trading situation after landing on The First. We stay tuned for the performance of REZ after its launch on April 30th at 21:00 (UTC + 8).
In the past two years, Restaking has undoubtedly been one of the hottest narratives in the crypto field. The Ethereum head re-staking protocol EigenLayer TVL exceeds 770,000 ETH , and multiple deposit windows have reached the opening limit in a very short time. The re-staking protocol Renzo based on EigenLayer has been online for only three months, and TVL has exceeded $100 million , and this growth was basically achieved in January this year.
What advantages does Renzo have to occupy a place in the Restaking track?
What is REZ (Renzo)?
Renzo is an Ethereum re-staking protocol provided by EigenLayer, which aims to allow users to re-use staked ETH (ether) for higher returns. The protocol ensures the safety of users' assets through smart contract technology and provides efficient staking and unstaking processes.
Renzo's positioning is based on the liquidity re-staking protocol of EigenLayer. The project mainly aims to solve the two major pain points of directly re-staking through EigenLayer: first, the liquidity of ETH will also be locked after re-staking. Renzo's solution is to use the derivative token ezETH to release the liquidity of re-staked ETH; second, as the number of EigenLayer active verification services (AVS) increases, different AVS configuration strategies will present completely different returns and risk situations. At this time, Renzo can use its algorithm to balance returns and risks in real time, replace users to make complex configuration choices, and help users achieve stable high returns.
In short, compared to EigenLayer, Renzo significantly simplifies the operation process. The complexity of EigenLayer lies in the fact that it requires users not only to actively manage each node, but also to actively participate in verifying services and handling various token rewards, while Renzo makes these simpler. Users can not only maintain asset liquidity while obtaining services, but also do not need to participate in complex node management.
REZ (Renzo) Token Economics
The total supply of REZ will be 10 billion tokens, and the circulating supply at the time of listing will be 1.05 billion tokens, accounting for about 10.50% of the total token supply. The specific distribution mechanism is as follows.
- Binance Launchpool will allocate 2.50%.
- Airdrop will allocate 10.00%.
- Investors and advisors will allocate 31.56%.
- The team will allocate 20.00%.
- The foundation will allocate 13.44%.
- DAO Treasury will allocate 20.00%.
- The liquidity budget will be allocated 2.50%.
From the perspective of token unlocking progress, since the beginning of circulation, the circulation proportion of REZ will remain relatively low in the next year. The token supply during this period is mainly composed of Binance Launchpool and airdrop shares. However, starting from the end of Q1 next year, the circulation supply of REZ will enter an accelerated stage, and investors need to pay attention to this time node.
According to The Block, Renzo announced the completion of a $3 million seed round of financing led by Maven11, with participation from OKX Ventures, IOSG Ventures, Figment Capital, and SevenX Ventures. According to OKX Ventures, this is their first announced investment in the EigenLayer ecosystem. Additionally, Binance Foundation announced its investment in Renzo on February 22, but the specific amount was not disclosed.
Currently, there is no over the counter price for EZ tokens, and they can only be traded through points on the Whales platform. The unit price is $0.12, Currently, the points price is trending downward. It is expected that the exchange ratio between points and tokens may be 1:1. Depending on the performance of similar projects in the early stages, the profits of Binance mining, and the distribution of existing chips, the price of Renzo tokens after their launch may be affected by these factors. Therefore, the market price of REZ still needs to be analyzed specifically based on the market trading situation after landing on The First. We stay tuned for the performance of REZ after its launch on April 30th at 21:00 (UTC + 8).
