Here I want to explain a little about a project called Renzo Protocol. Renzo Protocol's native coin, $REZ, is currently holding a launchpool on Binance.
To get the $REZ token reward, we can stake the $BNB coin or $FDUSD stablecoin that we have. The farming period lasts for 6 days and open trade will be on April 30th.
The following is the $REZ token allocation data according to Binance Research. Friends, you can read in more detail.
Renzo is present as a liquid restaking protocol in the Defi ecosystem, which functions as a strategy manager to bridge EigenLayer with Ethereum users for ETH restaking.
EigenLayer is a middleware protocol that introduces a new cryptoeconomic security feature on Ethereum in the form of restaking.
Renzo protocol is supported by large investors such as Binance Labs, Maven11, Figment Capital, SevenX Ventures, and many other investors.
So, we can start restaking ETH by connecting the wallet we have to app.renzoprotocol.com such as Binance Web3 wallet, OKX wallet, WalletConnect or Coinbase wallet.
We will get staking rewards on Ethereum mainnet and additional payments from AVSs. That is the reward we receive when restake ETH with EigenLayer. The risk is that AVSs may experience an increased risk of slashing, thereby reducing rewards, possibly because the network is bad.
So what we really need to pay attention to is that we can stake several different tokens on the Renzo platform with different levels of risk. In Renzo Protocol we can use a layer 2 network which can reduce fees without using the Ethereum main network.
Then, if we want to use one of the staking or layer 2 networks such as BNB Chain or Arbitrum and others, we will know the main network when we want to deposit it into our wallet.
We can also see 3 different coins supported by the main network. Now in the Renzo Protocol only Ethereum can be staked because there are no restrictions from the Eigen Layer, different from tokens in other layer 2 networks. Because Renzo runs his own validator and there are no limits for Ethereum.
So, to try it, friends, you can deposit or deposit ETH into Renzo Apps. At Renzo Apps the APR is 1.41% with a total restake value of 3.32 billion dollars.
We can also see the types of Eigen Layers with different advantages and risks. There is also a portfolio menu to see our portfolio, there is Defi with its own chain. Then there is also a referral program that we can use to get points.
OK, for more detailed information about this project, friends, you can visit the website directly at renzoprotocol.com or social media such as Twitter, Telegram, Mirror and Discord.
