- Renzo has allocated 32% of the total tokens to the community.
- The protocol tweeted that the token was not yet available on decentralized exchanges, however Dextools data shows the token is being traded on Uniswap.
- 50% of the tokens accumulated by users with more than 500,000 ezPoints are subject to a three-month vesting period.
Liquid restaking protocol Renzo has opened airdrop claims for its native token (REZ), which has debuted at a $289 million market cap, according to
CoinMarketCap.The initial circulating supply of REZ is 1.15 billion, with the remaining 8.85 billion tokens remaining locked up until various criteria are met. 31% of the tokens have been allocated to investors, 32% to the community and 20% to core contributors, who are subject to a 1-year lock up and 2-year vesting period.Renzo is a protocol that acts as a portal to EigenLayer by securing actively validated services (AVS). Users that stake ether
(ETH) on the platform generate a yield and automatically receive ezETH, Renzo’s liquid restaking token, which can be used to generate a higher yield across various decentralized finance (DeFi) protocols.Users holding more than 500,000 ezPoints, which were accumulated by staking on Renzo following its launch in January, are subject to a 50% lockup over a three-month vesting period.Renzo said in a
tweet that REZ was not available to trade on any decentralized exchange, although the official token contract posted on Renzo’s website had racked up $75 million in trading volume an hour after claims went live, Dextools
data shows.Edited by Parikshit Mishra.
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