According to ChainCatcher, Renzo Protocol announced the launch of its governance token REZ on Solana to enhance its influence in the blockchain ecosystem. REZ on Solana will maintain a 1:1 peg with REZ on Ethereum, and the token will comply with Solana's token standards and be compatible with the blockchain's decentralized financial ecosystem.

REZ was initially deployed on Ethereum and will be transferred to Solana using Wormhole's framework. The Guardian network of the multi-chain protocol uses secure cross-chain proofs to ensure trouble-free token transfers between Ethereum and Solana.