Renzo is the leading Liquid Restaking protocol in the cryptocurrency market at the moment. In this article, let's TAG to learn more details about this project!

What is Renzo?

Renzo is a Liquid Restaking protocol developed based on EigenLayer's restaking solution. This protocol helps users access EigenLayer products easily, while also providing liquidity for LSTs when participating in staking.

Renzo's operating model

Operational model

Renzo is a Liquid Derivatives platform built on EigenLayer. The project serves as an interface for the EigenLayer ecosystem by securing Actively Validated Services and providing higher returns than simple ETH staking.

For each LST or ETH deposited into Renzo, the protocol will mint an equivalent amount of ezETH.

Renzo is built to be an on-ramp / off-ramp solution for Ethereum staking, using a combination of smart contracts and operating nodes to secure the staking strategy.

ezETH

ezETH is a Liquid Restaking Token (LRT) that represents the user's LST or ETH deposited into Renzo. 

ezETH is a token that accumulates value, user rewards will come from ezETH increasing in price over time compared to the ETH or LST the user initially deposited into the protocol.

Withdraw money

Depending on the staking strategies implemented, withdrawal of user assets will take a minimum of 7 days. This mechanism mainly depends on EigenLayer's withdrawal request, but will vary depending on each AVS.

Protocol usage fees

Renzo will pay users 100% of the rewards coming from EigenLayer.

User platform usage fees will be used by the project for protocol reserves (treasury) and paid to Renzo node operators.

Renzo ezPoint

Renzo ezPoint is a form of reward for users who use the protocol. Renzo ecosystem participants will receive ezPoints from the launch of Renzo Beta on December 18, 2023. The number of bonus points will vary depending on time and nature of participation.

This project has not released tokens yet, so ezPoints can be used as criteria for future user airdrops.

Renzo's operating situation

Since its launch, Renzo has rapidly grown to achieve a TVL of more than 570.94 million USD. This protocol has issued more than 93.32 million EigenLayer Points and 100.67 million Renzo ezPoints. Users who retake through this protocol will receive a 2.72% APY.

Among the active Liquid Restaking protocols on the market, Renzo is the protocol with the 4th highest TVL. In the last 7 days, Renzo's TVL has increased by more than 60%.


Top 5 Liquid Restaking protocols in the cryptocurrency market.


Basic information about Renz tokens


Token allocation rate

There is currently no information about the REZ token allocation rate. Coin68 will update when more information is available.

Token use case

Currently there is no information about the use case of the REZ token. Coin68 will update when more information is available.

Investors

Renzo has completed 2 rounds of capital raising with the participation of investment funds such as: Binance Labs, IOSG Ventures, Maven11, …

Launchpool information

Binance users can lock BNB, FDUSD to farm EZ starting from 07:00 AM on April 24, 2024 (VN time) and ending in 6 days. Binance will then list EZ at 7:00 p.m. on April 30 (Vietnam time).

Specifications of Launchpool EZ are as follows:

  • Token Name: Renzo (EZ)

  • Total Token Supply: 10,000,000,000 EZ

  • Launchpool Token Reward: 250,000,000 EZ (2.5% of total supply)

  • Total initial circulating supply: 1,050,000,000 EZ (10.5% of total supply)

  • Stake conditions: KYC required

  • Maximum Limits Per User:

    • 147,569.44 EZ in BNB pool

    • 26,041.67 EZ in FDUSD pool

Supported pools:

  • Stake BNB (site will be available in about 4 hours): 212,500,000 EZ (85%)

  • Stake FDUSD (site will be available in about 4 hours): 37,500,000 EZ (15%)

Binance announcement details: Introducing Renzo (EZ) on Binance Launchpool! Farm EZ by Staking BNB and FDUSD | Binance Support.

Conclude


Renzo is the leading Liquid Restaking protocol in the cryptocurrency market at the moment. This protocol has completed 2 rounds of capital raising with the participation of leading investment funds such as: Binance Labs, IOSG Ventures,... Thank you for reading the article and don't forget to subscribe to WeTAG's information channels. !