Binance Announces Renzo (EZ), The 53rd Project On Binance Launchpool
Among the 53 projects listed on Binance Launchpool, Renzo (EZ) stands out.
Staking BNB and FDUSD allows users to farm EZ; EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD, and EZ/TRY are among of the trading pairings available.
Binance announced that Renzo (EZ) will be joining Binance Launchpool as the 53rd project. Just five hours before the Launchpool starts, the exchange's homepage is expected to be up, announcing the liquid staking system.
During the next six days, users may harvest EZ tokens by staking BNB and FDUSD into different pools.
Farming is scheduled to commence on April 24 at 00:00 UTC, according per Binance.
The following pairings will be available for trading when Binance lists EZ on April 30 at 12:00 UTC: EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD, and EZ/TRY.
A Seed Tag will be attached to the token, according to the exchange. Projects with this label may be more risky or volatile than the others on the list.
There will be a total of 250,000,000 EZ in Launchpool Token Rewards, which is 2.5% of the total token supply (or 10 billion EZ), as stated in the release.
Starting out, there will be 10.5% more supply in circulation than there can be.
Renzo (EZ) is what?
Renzo is an EigenLayer-based restaking mechanism for Ethereum. This makes restaking on EigenLayer easier, giving users a more natural and approachable method to work with it.
You may buy ezETH, a liquid staking token (LRT) that can be used in DeFi apps, with Ethereum (ETH) and, in the future, liquid staking tokens (LSTs) on Renzo.
With the recent introduction of its beta mainnet, the protocol is working towards its goals of supporting new blockchains and expanding its services to Layer 2 networks, among other Layer 1 networks.
Binance Labs put money into Renzo in February so that the EigenLayer ecosystem could enable liquid restaking.
