The Renzo team announced some changes to the conditions for the REZ token airdrop.
According to the project, severalĀ changesĀ are expectedĀ regarding the REZ airdrop.Ā The Renzo team elected to increase theĀ initial distribution volumeĀ from 5% to 7% after criticism towards the developers and the deposit of the ezETH LRT token.
We hear you! The Renzo team acknowledges feedback and the importance of our community who has made Renzo the leading restaking protocol. Based on your feedback weāre updating:1ā£Claim timeline2ā£Tokenomics3ā£Airdrop eligibilitySnapshot & Claim Timeline:šSnapshot dateā¦
ā Renzo (@RenzoProtocol) April 24, 2024
In addition, the branding dateĀ has been postponedĀ to April 30. Tokens can be requested an hour before the assetĀ is listedĀ on the Binance exchange, and the REZ share for the community will be 32% instead of 30%.
The developers also stated that the minimum threshold for participation in the distribution would be 360 points, with 99% of addresses fitting this criterion. Requirements are higher for larger wallets.
Addresses with a balance of more than 500,000 points will receive only 50% of the TGE drop, andĀ the rest will be unlockedĀ linearly over three months.
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The Renzo protocol team has previously been criticized, mainly due to the revelation that developers and large investors accounted for 65% of the REZ supply.
ā Steven (@Dogetoshi) April 23, 2024
On April 24, the LRT token of the Renzo protocol, ezETH, also lost its connection to Ethereum (ETH).Ā Its currentĀ ratio to the underlying asset fell to 1 to 0.5.
$ezETH depegged briefly to 0.5 $ETH or $1600RIP leveraged points farmers pic.twitter.com/wbgwqpmxh7
ā Wazz (@WazzCrypto) April 24, 2024
The Renzo project has become the 53rd project in the Binance Launchpool. Binance will be the first platform to list the REZĀ token, and trading will begin on April 30.
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#BinanceLaunchpool #rezlaunchpool