Binance Launches Renzo Protocol for Liquid Restaking

Binance will feature Renzo (EZ) on its Launchpool platform, allowing users to stake BNB and FDUSD for EZ tokens during a 6-day farming period.

Binance, a cryptocurrency exchange, has announced that Renzo (EZ), a protocol for liquid restaking, will be featured on its Launchpool platform as the 53rd project. Starting at 00:00 UTC on April 24th, users can stake BNB and FDUSD for EZ tokens during a 6-day farming period.

Within the EigenLayer ecosystem, Renzo acts as a strategy manager in addition to being a liquid restaking token (LRT). It secures Actively Validated Services (AVSs), provides a higher payout than ETH staking, and acts as the gateway to EigenLayer. In order to facilitate communication between users and operators of EigenLayer nodes, the Renzo protocol streamlines user interactions by hiding technical details.

At 12:00 UTC on April 30th, Binance intends to list EZ for trading, following farming. A number of token pairs, including BTC, USDT, BNB, FDUSD, and TRY, will be accessible for EZ tokens.

Revealing Renzo’s EZ Tokenomics: Supply and Utility
 
Renzo has set the initial circulating supply of EZ tokens at 1.05 billion, out of a total supply of 10 billion. Renzo has set aside 250 million tokens, or 2.5% of the total token supply, in this distribution as incentives for the Launchpool.

The Renzo protocol’s native utility and governance token, EZ, gives its holders a say in governance proposals that can change the way the protocol works. These suggestions may include decisions critical to the protocol’s operation. In addition, users of ezETH, Renzo’s liquid restaking token, can participate in restaking activities while maintaining their liquidity.

As part of his EZ tokenomics plan, Renzo has set aside 31.56% of the token supply for investors and advisers and 40% for the DAO Treasury and the team. In addition, the foundation will receive 13.44% of the token supply, airdrops will receive 10%, and liquidity and the Binance Launchpool will share the remaining 5% equally.

Binance Labs, the venture capital branch of Binance, awarded an undisclosed amount of money to Renzo earlier this year, reiterating the company’s continued dedication to firms that prioritize staking and restaking. According to the project website, the total value locked (TVL) in Renzo is $3.31 billion as of this writing.