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Renzo has been in the headlines the past couple of days. Various activities have somehow spread the project all over the internet, whether it's the loose airdrop allocation, the unmatched claim period, the max allocation for the team & investors, or the Binance Launchpool. Everywhere, Renzo has successfully brought back negative sentiments among retail investors. And that's not the best position for any project before their token launch.
Despite a few hiccups and mismatches, Renzo is still a strong project and one of the most used Liquid Restaking Platforms on Ethereum. The De-Pegging event was sudden but could have been handled better.
The team did, however, correct some of the mistakes by giving a 2% higher allocation to Airdrop holders and shifting the claim period 1 hour before the official listing on Binance.
The most complained about part comes after Launchpool listing. People blindly buy the token hoping VCs and whales will drive the price up, but now it seems like the trick is being exposed. Binance Launchpool isn't an ICO platform, so you don't get any ROI because you're getting the token for free. And sometimes, Launchpool users create a big sell wall because of big instant access to the asset, thus we've seen numerous coins plummet over time.
Therefore, it's always better to wait before buying something out of excitement. Making a short-term bet is harder than investing for the long term. Short-term price action is often driven by sentiment, and you have to accept that.ย
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