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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🔆 How Renzo Protocol Works
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.
⚡ Native ETH Restaking on BNB Chain:
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.
💈Renzo On Binance Launchpool
🔸Token Name: Renzo ($REZ)
🔹Max Token Supply: 10,000,000,000 REZ
🔸Launchpool Token Rewards: 250,000,000 REZ (2.5% of max token supply)
🔹Initial Circulating Supply: 1,050,000,000 REZ (10.50% of max token supply)
🔸Smart Contract Details: Ethereum
🔹Staking Terms: KYC required
⚡ Hourly Hard Cap per User:
🔸147,569.44 REZ in BNB pool
🔹26,041.67 REZ in FDUSD pool
𝕀𝕄ℙ𝕆ℝ𝕋𝔸ℕ𝕋 ℕ𝕆𝕋𝔼 𝔽ℝ𝕆𝕄 𝔹𝕀ℕ𝔸ℕℂ𝔼: 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.
🔸 How To Join Binance Launchpool?
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].
🔸How to participate in a new project?
1. Let’s 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].
🔥 Project Official Links :
🔹 Website : https://www.renzoprotocol.com/
🔸WhitePaper : https://docs.renzoprotocol.com/docs
🔹X (Twitter) : https://twitter.com/RenzoProtocol
Don't interact With Any Third party Links Other than Official Ones
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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 purposes
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