Binance 53rd Launchpool Project @RenzoProtocol is now live!
What is Renzo ?
Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. It is the interface to the EigenLayer ecosystem securing Actively Validated Services (AVSs) and offering a higher yield than ETH staking.
The protocol abstracts all complexity from the end-user and enables easy collaboration between them and EigenLayer node operators.
Renzo strongly advocates for EigenLayer and its goal of facilitating permissionless innovation on Ethereum, and programmatically acquiring trust for the ecosystem. Renzo is built to promote the widespread adoption of Eigenlayer.
How can you simply earn RENZO Coins for FREE?
Farm $REZ tokens by staking $BNB and/or $FDUSD from today until the 29th of April!
Binance has allocated 250,000,000 REZ to those staking BNB and FDUSD.
No risks involved!
Binance will list $REZ at 2024-04-30 12:00 (UTC)
As you might know by now, Binance launchpool tokens will probably trade above their launch price. So it’s smart to farm these coins right now for the launch price!
Still no Binance account?
Sign up here
https://accounts.binance.com/en/register?ref=O22ARWES…
How to find the launchpool on Binance?
Simply head over to the menu and select "More". Then, go to "Launchpad & Launchpool". The last thing to do is to click on "Stake" to secure your allocation!
REZ Launchpool Details:
- Token Name: Renzo ( $REZ )
- Max Token Supply: 10,000,000,000 REZ
- Launchpool Token Rewards: 250,000,000 REZ (2.5% of max token supply)
- Initial Circulating Supply: 1,050,000,000 REZ (10.50% of max token supply)
- Smart Contract Details: Ethereum
- Staking Terms: KYC required
- Hourly Hard Cap per User:
- 147,569.44 REZ in BNB pool
- 26,041.67 REZ in FDUSD pool
How do LRTs work?
Renzo is a liquid derivative platform built on EigenLayer. It serves as the interface to the EigenLayer ecosystem by securing Actively Validated Services (AVSs) and offering a higher yield than ETH staking.
For every LST or ETH deposited on Renzo, it mints an equivalent amount of ezETH.
How does Renzo do it?
The Renzo Protocol is a layer over EigenLayer that users can interact with to abstract away the complexities of the protocol.
The smart contracts are set up in a way to allow delegation to multiple Operators in EigenLayer and also allow users to deposit Native ETH and LSTs.
Depositing and Delegation
When a user deposits native ETH, it is staked via an Ethereum Beacon chain validator node. The native ETH is held in the DepositQueue contract until the 32 ETH minimum is met. Once the minimum is met, the ETH is sent directly to the Beacon Chain Deposit Contract and the withdrawal credentials are pointed at the EigenPod in EigenLayer.
This allows the ETH to earn staking rewards and also contribute to securing AVSs in EigenLayer, as shutting down the validator node would give the EigenPod the ability to withhold some of the ETH in case a slashing event occurred. The deposited ETH earns both Ethereum validator rewards and EigenLayer AVS rewards for the protocol.
Upgradeability
The EigenLayer protocol is currently in active development and interfaces are expected to change over time. In order to support these changes, the Renzo Protocol smart contracts are upgradeable via proxy contracts. The upgrade permissions are gated by a protcol multisig contract.
Fees
- Renzo passes 100% of any EigenLayer rewards
- The fees will be split between protocol reserves (treasury) and Renzo node operators
Restake
Renzo launched its beta mainnet to the public on 18th December 2023. The app allows users to deposit native ETH, wBETH, or stETH (LSTs) and get access to EigenLayer Restaked points. Renzo runs a distributed Ethereum validator infrastructure powered by Figment, http://P2P.org, and Luganodes to enable unrestricted participation on Eigenlayer.
Restake allows users to deposit ETH and earn EigenLayer restaking points.
#rezlaunchpool #BinanceLaunchPool🔥