As the closing date for Renzo’s Season 1 ezPoints campaign approaches, the liquid staking protocol has made public the REZ token economics and instructions for claiming earned ezPoints.
Based on the Renzo Protocol, the ezPoints campaign for Season 1 will conclude on April 26th. This protocol has seen remarkable expansion in both the number of active users and the Total Value Locked (TVL). Such growth in TVL has propelled Renzo into the top tier of Decentralized Finance (DeFi) protocols.
Renzo Season 2 Starts on April 26
Significantly, the second season of the show will begin just a few days after the current one concludes on April 26. The decentralization procedure is set to start on April 30 and will be signaled by the debut of REZ, which is the native token for the Renzo Protocol.
Starting May 2, users are unable to receive their REZ allotment as 5% of the total REZ stockpile, equal to 500 million units, will be disseminated at that time. The distribution process will depend on each individual user’s amassed ezPoints. It is worth mentioning that out of the designated 5% airdrop, 2% will be allocated for Milady Maker and SchizoPosters communities respectively.
The REZ token has a total issuance of 10 billion tokens. At launch, only 1.05 billion tokens will be in circulation. A significant portion of the token distribution (around 75%) is earmarked for investors. Meanwhile, just 2.5% of the supply is reserved for Launchpool, which includes projects like Binance‘s staking platform and has announced its 53rd project using their restaking protocol.
At the Token Generation Event (TGE), most large wallets will have half of their holdings unlocked, and the remaining half will be released linearly over a six-month period. Renzo Protocol intends to transfer unclaimed or vesting tokens to dedicated users who continue engaging with the platform. Eligible wallets from the initial phase may receive extra benefits for the subsequent stage, but this depends on certain conditions.
“The protocol stated that your ezETH amount from Season 1 should remain in your wallet or in any Renzo DeFi integration for it to be valid.”
With the REZ token, you have the ability to participate in various functions, specifically when it comes to casting votes on governance proposals related to the Renzo Protocol.
Renzo Season 1 Comes to an End
In the first season, there were several notable achievements including a $3.5 billion deposit, regaining a 33.5% market share, and attracting over 250,000 users.
In the past four months since its launch, Renzo’s liquid staking protocol has achieved notable milestones. It currently supports staking on seven different networks: Ethereum, Coinbase Base, Arbitrum, Mode, Blast, BNB Smart Chain, and Linea. Additionally, approximately a quarter of the total value locked (TVL) in Renzo is represented by ezETH on Layer-2 accounts.
According to a recent announcement, Renzo claimed that his newly launched staking protocol is the first to support deposits of both ETH and LST, with stETH and wBETH accounting for approximately $110 million of the total value locked within just two weeks of its debut.
From January onward, Renzo has become a part of Morpho Blue, Balancer, Curve, Pendle, and several other platforms.
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2024-04-24 15:48