Binance @binance has launched another re-staking protocol project @RenzoProtocol Renzo ($REZ), which is a re-staking protocol based on EigenLayer. Currently, the OTC token is around $0.30+, and the Renzo points are around $0.1+, so how many points you get will determine how much the airdrop is worth 🪂

What is Renzo?

Renzo @RenzoProtocol simplifies complex staking mechanisms for end users and enables fast collaboration with EigenLayer node operators and Active Verification Services (AVSs). ezETH is Renzo's liquidity re-staking token, allowing its holders to obtain re-staking opportunities while having liquidity. $REZ will be used to vote on governance proposals related to Renzo Protocol, some of which are key measures for the operation of the protocol.

Summary: Simplify the complex pledge mechanism and release liquidity. We can see these concepts intuitively, which are relatively simple and easy to understand for most users.

Want to learn more about how Renzo works and how it relates to EigenLayer?

At the beginning of the article, it was mentioned that Renzo is a re-staking protocol based on EigenLayer, so there must be a connection. Before we get to know the operation of Renzo in depth, let’s first get to know EigenLayer; 👇

EigenLayer: Makes it easy for innovators to collaborate with Ethereum’s stakers and node operators. It enables multiple parties that don’t trust each other to collaborate and create something meaningful.

Eigenlayer essentially provides an easy way to leverage Ethereum’s “decentralized trust” module, promoting open innovation. This eliminates the need for protocols to develop their own validator sets and allows them to easily access Ethereum’s computational and financial resources.

There are 4 main components in the EigenLayer ecosystem:

1. Active Verification Service (AVS), AVS in EigenLayer is a decentralized service that will inherit the security of Ethereum through EigenLayer.
2. Ethereum stakers. Ethereum stakers in EigenLayer can protect multiple networks by re-staking their ETH.
3. Node operators. Node operators in EigenLayer provide computing resources for the secure operation of various services, including decentralized applications (DAs), oracles, and bridges.
4. The EigenLayer protocol itself. The EigenLayer protocol consists of Ethereum smart contracts, which facilitate trustless cooperation between stakers, node operators, and services.

Renzo is a member of the operator node in the EigenLayer ecosystem.

The EigenLayer ecosystem allows Ethereum validators to re-collateralize their ETH and provide services to the network, such as the data availability layer with a specific type of node software, called Active Validation Service (AVS). Operators opt-in to validate AVS by running their AVS software, thereby acting as AVS nodes, which are nodes that run AVS software as Eigenlayer operators.

Renzo operator nodes are professional collateral providers that ensure the security of protocol user funds and the correctness of re-collateralization operations. The protocol distributes pooled LST to all active node operators based on the weight associated with each operator. This allows for a determined risk/reward setup based on calculated risk, resulting in the best possible return.

After understanding Renzo clearly, let’s see how Renzo works?

Renzo is a liquid derivatives platform built on EigenLayer. It acts as an interface to the EigenLayer ecosystem by securing the Active Verification Service (AVS) and providing higher returns than ETH staking. For every LST or ETH deposited into Renzo, it mints an equal amount of ezETH (see figure)

Where does Renzo’s yield come from?

According to the official introduction, the current staking income comes from ETH validators. With the launch of AVS on EigenLayer, Renzo Node operators will be connected and they will obtain re-pledge income.

Financing

Financing time: 2024-01-15
Round: Seed Round
Funding: $3.2 million
参与机构： Maven11*、SevenX Ventures、IOSG Ventures、OKX Ventures、Robot Ventures、Bitscale Capital、Figment Capital、Bodhi Ventures、Mantle Network、Paper Ventures、Protagonist、Re7 Capital、Karatage、Edessa Capital

Financing time: 2024-02-22
Rounds:--
Financing Amount:--
Participating institutions: Binance Labs

$REZ Token Economics

Token name: Renzo (REZ)
Initial circulation: 1,050,000,000 (10.50% of total token supply)
Total Supply: 10,000,000,000
Binance Launchpool Amount: 250,000,000 (2.50% of total tokens)

Binance LaunchPool

Binance Launchpool now supports the 53rd project - Renzo (REZ), a liquidity re-staking protocol.

You can invest BNB and FDUSD into the REZ mining pool on the Launchpool website after 08:00 on April 24, 2024 (GMT+8) to receive REZ rewards. REZ can be mined for a total of 6 days.

#Binance #binancelaunchpool

New and old users can quickly participate 👉: https://binance.com/zh-CN/join?ref=S5HT0YL0…

Mining activity: https://launchpad.binance.com/zh-CN/launchpool/REZ_BNB

#新币挖矿 #比特币减半 #BNB #BTC $BTC $BNB