Liquid Restaking Protocol Renzo Airdrops REZ Token, Debuts At $289M Market Cap
Renzo has allocated 32% of the total tokens to the community.
The protocol tweeted that the token was not yet available on decentralized exchanges, however Dextools data shows the token is being traded on Uniswap.
50% of the tokens accumulated by users with more than 500,000 ezPoints are subject to a three-month vesting period.
Liquid restaking protocol Renzo has opened airdrop claims for its native token (REZ), which has debuted at a $289 million market cap, according to CoinMarketCap.
The initial circulating supply of REZ is 1.15 billion, with the remaining 8.85 billion tokens remaining locked up until various criteria are met. 31% of the tokens have been allocated to investors, 32% to the community and 20% to core contributors, who are subject to a 1-year lock up and 2-year vesting period.
Renzo is a protocol that acts as a portal to EigenLayer by securing actively validated services (AVS). Users that stake ether {{ETH}} on the platform generate a yield and automatically receive ezETH, Renzoâs liquid restaking token, which can be used to generate a higher yield across various decentralized finance (DeFi) protocols.
Users holding more than 500,000 ezPoints, which were accumulated by staking on Renzo following its launch in January, are subject to a 50% lockup over a three-month vesting period.
Renzo said in a tweet that REZ was not available to trade on any decentralized exchange, although the official token contract posted on Renzoâs website had racked up $75 million in trading volume an hour after claims went live, Dextools data shows.
What If You Stake $72,000 FDUSD to Earn $REZ Rewards?
Let's crunch the numbers! đ°
With Binance's latest project, $REZ , you can earn rewards by staking FDUSD and BNB. The allocation breakdown is 85% for BNB and 15% for FDUSD. Here's what you need to know:
For staking $72,000 FDUSD:
đč Hourly hard cap per user in the FDUSD Pool: 26,041.67 REZ (15%)
After staking for over 30 hours, you've already earned a significant amount of REZ! đ But the big question remains: HODL or sell after launch? đ€ Your plan to sell half of your REZ immediately and buy more on a healthy dip sounds like a smart strategy! đđĄ Diversifying your portfolio and capitalizing on market fluctuations could lead to even greater gains in the long run! đ
What's your take on this approach? Share your thoughts below! Let's navigate this exciting journey together! đŹâš
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