🎁Details about the Renzo liquid staking protocol
⭐Renzo becomes the 53rd project on Binance Launchpool. REZ token will be listed on the Binance exchange at 7:00 p.m. on April 30 and is tagged Seed. Open spot trading pairs include REZ/BTC, REZ/USDT, REZ/BNB, REZ/FDUSD and REZ/TR. Users can stake BNB and FDUSD into separate pools to farm REZ tokens for six days, with the farming process starting at 7:00 a.m. on April 24.
⭐Renzo's operating model
- Renzo is a Liquid Derivatives platform built on EigenLayer. The project serves as an interface for the EigenLayer ecosystem by securing Actively Validated Services and providing higher returns than simple ETH staking.
- For each LST or ETH deposited into Renzo, the protocol will mint an equivalent amount of ezETH. Renzo is built to be an on-ramp/off-ramp solution for Ethereum restaking, using a combination of smart contracts and operating nodes to secure the restaking strategy.
- ezETH: is Liquid Restaking Token (LRT) representing the user's LST or ETH deposited into Renzo.
- Withdrawal: Depending on the staking strategies implemented, withdrawal of user assets will take a minimum of 7 days. This mechanism mainly depends on EigenLayer's withdrawal request, but will vary depending on each AVS.
- Protocol usage fee: Renzo will pay users 100% of the rewards coming from EigenLayer. User platform usage fees will be used by the project for protocol reserves (treasury) and paid to Renzo node operators.
- Renzo ezPoint: is a form of reward for users who use the protocol. Renzo ecosystem participants will receive ezPoints from the launch of Renzo Beta on December 18, 2023. The number of bonus points will vary depending on time and nature of participation.
