Binance Unveils Renzo Protocol on Binance Launchpool

Binance recently introduced Renzo as the 53rd project on Binance Launchpool, sparking significant interest within the community. The surge in Renzo Point and related token prices reflects investors’ optimistic sentiment toward the liquid restaking trend.

Renzo Point Trading Insights

Renzo Point, trading at $0.122 on Whales Market, has surged over 18% in the last 24 hours, with a trading volume of $419,954.36, marking a 343.7% increase. The total Renzo volume has hit $639,518, a notable milestone in the current market. The average bid price stands at $0.1173, with the average ask price at $0.1354, while the most common purchase price is $0.128.

Significance of Renzo Point

Renzo Point holds significance for users to qualify for the project’s airdrop. Speculation among long-time investors suggests a potential conversion of Renzo Point into REZ tokens at a ratio of 1:1, prompting traders to accumulate Renzo Point.

Growth of EZETH

EZETH, Renzo’s liquid restaking token, has witnessed significant growth post its appearance on Binance Launchpool. Rising from $3,196 USD to $3,279 after Binance’s announcement, EZETH is currently trading at $3,253, up 0.43% in the last 24 hours. EZETH provides users with restaking features while ensuring liquidity and asset security, positioning itself as a leading LRT asset in the market.

Market Analysis and Predictions

Analysis from yieldfarming on Twitter suggests an initial market capitalization of approximately $300 million for Renzo, with an initial supply of 1.05 billion REZ. Project followers anticipate a price of around $0.075 for Renzo Point if a 1:4 ratio is adopted, with an estimated REZ token price of $0.3. Many agree with this prediction, while some hope for Renzo Point’s price to reach $0.1 as the Binance listing approaches.

Renzo Protocol Allocation Details

Renzo Protocol’s native utility and governance token, REZ, has a total supply of 10,000,000,000, with 1,050,000,000 (equivalent to 10.5%) in circulation at listing. Allocation breakdown includes:

• Binance Launchpool: 2.5%
• Airdrop: 10%
• Investors and advisors: 31.56%
• Team: 20%
• Foundation: 13.44%
• DAO treasury: 20%
• Liquidity: 2.5%

REZ facilitates voting on governance proposals related to the Renzo protocol, serving as a key measure for protocol operations, with future features to be potentially supplemented.