Key Points
- Renzo (EZ) is the 53rd project introduced on Binance Launchpool.
- Users can farm EZ by staking BNB and FDUSD; trading pairs include EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD, and EZ/TRY.
In an official announcement, Binance revealed Renzo (EZ) as the 53rd project on Binance Launchpool. The exchange announced the liquid staking protocol with its webpage estimated to become available in about five hours, before the Launchpool begins.
Users will be able to stake their BNB and FDUSD into separate pools in order to farm EZ tokens over the next six days.
According to Binance, farming is set to begin on April 24 at 00:00 UTC.
Binance will list EZ on April 30 at 12:00 UTC, and trading will open with the following pairs: EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD, and EZ/TRY.
The exchange also announced that the token will have a Seed Tag applied. This tag is applied to projects that may exhibit higher volatility and risks compared to other listed tokens.
According to the announcement, the maximum token supply is 10 billion EZ, and the Launchpool Token Rewards will be 250 million EZ, representing 2.5% of the maximum token supply.
The initial circulating supply will be 10.5% of the maximum supply.
On X, the team behind Renzo announced the next generation of dApps built on top of Renzo using EigenLayer and AltLayer shared security:
A new generation of dapps built on top of Renzo utilizing @eigenlayer and @alt_layer shared security 🔒
Stake $ezETH & receive:
1️⃣ L3X Points
2️⃣ 2x ezPoints
3️⃣ 1x EigenLayer Points https://t.co/crRqQVJEng— Renzo (@RenzoProtocol) April 22, 2024
What is Renzo (EZ)?
Renzo is an Ethereum restaking protocol that’s based on EigenLayer. This simplifies the complexities of restaking on EigenLayer, offering users a more accessible and liquid way to engage with the process.
Renzo allows users to deposit ETH and, in the future, LSTs (liquid staking tokens) in exchange for ezETH, a liquid staking token (LRT) usable in DeFi applications.
The protocol, which has recently launched its beta mainnet has the aim to support more blockchains and expand its services to Layer 2 networks and other Layer 1 networks as well.
Back in February, Binance Labs invested in Renzo to support liquid restaking on the EigenLayer ecosystem.