PREDICTION: $REZ IS IT PRICED $0.3 OR $0.42?
This project is Renzo Protocol, a staking platform built on EigenLayer.
Renzo highlights:
- Built on EigenLayer, one of the most prominent platforms recently.
- With is Cross chain staking. This helps #Renzo expand more to the user file in the Layer 2 surrounding the ETH ecosystem. If successful, this will be a big lever for the project to explode.
- Multi-protocol next highlight. Renzo combines a variety of protocols such as Pendle, Curve, Balancer... => more liquidity.
Renzo successfully raised $3.2M in the seed round from tier 2 funds such as: Maven 11 Capital (lead), OKX, SevenX... Most recently, February 2024 #Renzo continued to call from Binance Labs (undisclosed amount). )
So how to set a reasonable price?
- With a total supply of 10B tokens, the initial circulating supply is 10.5%, meaning 1.05B tokens will be circulated to the market. To make it easiest to guess, I bring EtherFi for you to compare. EtherFi raised $32M and current cap is around $450M. Renzo raises to 3.2M, what do you think the price will be? OTC is trading at $0.37.
Few options:
- MC $450M (on par with EtherFi) price will be $0.42
- MC $300M price will be $0.28
- MC $200M price will be $0.19
So a reasonable amount would be $0.3, which means the cap is around $300 - $350M. The number is quite close to recent Launch projects on Binance.
