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 users and EigenLayer node operators.
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๐ How Renzo Protocol Worksย
Renzo allows users to deposit Ethereum (ETH) in exchange for ezETH, a Liquid Restaking Token (LRT). Users can also deposit other liquid staking tokens (LSTs) like Lido stETH (wrapped stETH) when caps open on EigenLayer.
โก Native ETH Restaking on BNB Chain:
โ
With the support of Binance Labs, Renzo Protocol plans to launch native ETH restaking on BNB Chain through a partnership with cross-chain protocol Connext. This collaboration will enable BNB Chain users to directly restake their ETH for Renzo's liquid restaking token, ezETH, without the need for bridging. Users will receive rewards in EigenLayer points and Renzo's ezpoints, which are designed to encourage engagement within the ecosystem.
๐Renzo On Binance Launchpool
๐ธToken Name: Renzo ($REZ)
๐นMax Token Supply: 10,000,000,000 REZย
๐ธLaunchpool Token Rewards: 250,000,000 REZ (2.5% of max token supply)
๐นInitial Circulating Supply: 1,050,000,000 REZ (10.50% of max token supply)
๐ธSmart Contract Details: Ethereum
๐นStaking Terms: KYC requiredย
โก Hourly Hard Cap per User:ย
๐ธ147,569.44 REZ in BNB pool
๐น26,041.67 REZ in FDUSD pool
๐๐โ๐โ๐๐ธโ๐ โ๐๐๐ผ ๐ฝโ๐๐ ๐น๐โ๐ธโโ๐ผ: Binance will be the first platform to list the token mentioned herein, with trading starting at 2024-04-30 12:00 (UTC). Any claims to offer this token for sale before the stated timeline are false advertising. Please do your own research to ensure safety of your funds.
๐ธ How To Join Binance Launchpool?ย
Binance Launchpool allows users to acquire new token rewards by staking BNB, FDUSD, and other tokens on the platform.
1. Log in to your Binance account and click the navigation button - [Launchpad].
2. Then, scroll down to find [Launchpool] and the list of available and completed projects.
3. You can also access Launchpool by clicking[Finance] - [Binance Earn].
4. Scroll down and click [View More] under [Launchpool].
๐ธHow to participate in a new project?
1. Letโs take Flamingo (FLM) as an example. On the Launchpool page, you can see the available staking options for farming FLM. For example, [Flamingo BNB] means that you can stake BNB to farm FLM. Click [Stake Now] to participate.
2. Here you can see the project reward information and the estimated annual percentage yield (APY).
3. [My Funds] shows your staked assets. [Available] shows the available balance for staking in your Spot Wallet. If you do not hold any BNB, you can click [Buy BNB].
You can then click [Stake] to stake BNB to farm FLM. Your assets can be redeemed any time by clicking [Redeem]. To view your staking records, click [Staking History].
4. [My Rewards] shows your unclaimed earned rewards, which are updated every hour. You can click [Claim Rewards] to claim the earned tokens to your Spot Wallet any time you wish. To view the claimed rewards or distribution history, click [Claim History].
๐ฅ Project Official Links :ย
๐น Website : https://www.renzoprotocol.com/
๐ธWhitePaper : https://docs.renzoprotocol.com/docs
๐นX (Twitter) : https://twitter.com/RenzoProtocol
ย Don't interact With Any Third party Links Other than Official Onesย
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The Joining Process is the Actual offical post from Binance, the article is represented here just for information purposes. Names are taken only for information not for any investment purposesย
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