Discover Renzo Protocol (REZ) on Binance Launchpool: How to earn REZ Airdrop

Binance has announced its 53rd project on Binance Launchpool – Renzo Protocol, a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. It is the interface to the EigenLayer ecosystem securing Actively Validated Services (AVSs) and offering a higher yield than ETH staking. Discover the Renzo Protocol farming on Binance Launchpool and learn more about the Renzo network airdrop by taking a look at this article.

What is Renzo Protocol?

Renzo is a platform built on EigenLayer that simplifies restaking strategies for decentralized services (AVSs) to optimize risk and reward. Users stake native ETH or other liquid staking tokens (LSTs) like wBETH and stETH to receive ezETH, which represents their restaked position in Renzo.

ezETH is a reward-bearing token that can increase in value relative to the underlying tokens due to its use in AVSs. Renzo has integrated with Pendle Finance to create a new token, the EIP5115 SY Token, representing ezETH at a 1:1 ratio. This token can be further tokenized into principal and yield tokens for additional flexibility. Renzo’s goal is to simplify the complex process of selecting the best restaking strategy and maximizing the risk/reward ratio for users.

Details about the Renzo Farming campaign on Binance Launchpool

Details of the REZ Farming campaign on Binance Launchpool

Binance Launchpool offers an exciting opportunity to get Renzo Protocol – the 53rd project on Launchpool before listing REZ on the exchange. Here’s how you can participate:

• Verify your Binance account: Make sure you have verified your account to be eligible to stake in the launchpools. Don’t have a Binance account yet? Register here
• Stake your BNB / FDUSD in the pools: Earn REZ tokens by staking your current holdings of BNB or FDUSD on Binance Launchpool.
• Claim your rewards and trade: Once the farming duration ends, you need to claim all your rewards in REZ tokens (you can claim the rewards at any time), and then get ready for the token listing at 2024-04-17 12:00 (UTC) and open trading with REZ/BTC, REZ/USDT, REZ/BNB, REZ/FDUSD and REZ/TRY trading pairs.

REZ Launchpool Details

• Token Name: Renzo (REZ)
• Max Token Supply: 10,000,000,000 REZ 
• Launchpool Token Rewards: 250,000,000 REZ (2.5% of max token supply)
• Initial Circulating Supply: 1,050,000,000 REZ (10.50% of max token supply)
• Smart Contract Details: Ethereum
• Staking Terms: KYC required 
• Hourly Hard Cap per User:
  • 147,569.44 REZ in BNB pool
  • 26,041.67 REZ in FDUSD pool

Supported Pools: 

• Stake BNB (webpage will be available in around 5 hours): 212,500,000 REZ in rewards (85%) 
• Stake FDUSD (webpage will be available in around 5 hours): 37,500,000 REZ in rewards (15%)
• Farming Period: 2024-04-24 00:00 (UTC) to 2024-04-29 23:59 (UTC).

 REZ Farming Accumulation

Dates (00:00:00 – 23:59:59 UTC each day)	Total Daily Rewards (REZ)	BNB Pool Daily Rewards (REZ)	FDUSD Pool Daily Rewards (REZ)
2024-04-24 – 2024-04-29	41,666,666.67	35,416,666.67	6,250,000

Currently, users residing in the following countries or regions will not be able to participate in farming REZ: Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America, and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine

• User balances and total pool balances will be snapshot multiple times each hour to calculate users’ hourly average balances and rewards.
• Hourly rewards will be updated and can be accumulated by users, who can claim them directly to their spot accounts at any time.
• Each pool’s APY and total balance are updated in real-time.
• Tokens can only be staked in one pool at a time; users cannot stake the same token in multiple pools simultaneously.
• Users can split their tokens across different pools (e.g., allocating 50% to Pool A and 50% to Pool B).
• Users can unstake their funds instantly with no delay and participate in other available pools immediately.
• Tokens staked in each pool and unclaimed rewards are automatically transferred to users’ spot accounts at the end of each farming period.
• Binance BNB Vault and Locked Products support Launchpool participation; staked BNB holders automatically join and receive new token rewards.
• If multiple Launchpool projects are active concurrently, users’ BNB assets in BNB Vault and Locked Products are evenly split across projects by default.
• BNB assets collateralizing Binance Loans (Flexible Rate) do not qualify for Launchpool rewards.
• Staking BNB in Launchpool retains standard benefits, including airdrops, Launchpad eligibility, and VIP benefits.

How to claim the REZ Airdrop

Renzo’s ezPoints are rewards for contributing to the protocol’s success, distributed since its Beta mainnet launch on December 18, 2023. These points play a key role in upcoming airdrop allocations.

We hear you! The Renzo team acknowledges feedback and the importance of our community who has made Renzo the leading restaking protocol.

Based on your feedback we’re updating:

1⃣Claim timeline
2⃣Tokenomics
3⃣Airdrop eligibility

Snapshot & Claim Timeline:
Snapshot date…

— Renzo (@RenzoProtocol) April 24, 2024

Below is the latest Renzo Tokenomics update, following community feedback:

• Community: increased from 30% to 32%
• Total Airdrop Allocation: increased from 10% to 12%
• Season 1 allocation increased from 5% to 7% (2% increase from Liquidity Providers (LP) & Platform)
• Season 2 allocation remains at 5% of total supply
• Binance Launchpool: Remains at 2.5% of total supply

Airdrop Criteria:

• The minimum requirement is 360 ezPoints per wallet
• The majority of all wallets meeting conditions, over 99%, are fully unlocked at TGE
• Top wallets with over 500 thousand ezPoints will have 50% unlocked at TGE and the remainder vesting over 3 months
• Snapshot taken on April 26, 2024
• REZ claim date changed to April 30, 2024 – 1 hour before listing on Binance: click here

Season 2 of Renzo’s airdrop, lasting 3 months with a 5% supply allocation, offers an additional 10% ezPoints increase to Season 1 participants maintaining or increasing their ezETH balance.

Renzo’s tokenomics have been updated based on community input, with increased allocations for community and total airdrop percentages. Key conditions for airdrop eligibility include minimum ezPoints per wallet and unlocking criteria based on wallet balance. Snapshot and token claim dates have been specified, leading up to a Binance listing.

Conclusion

In conclusion, we hope you participated and became one of the eligible winners to receive the REZ token before its listing on Binance in their Airdrop campaign. Congratulations if you are chosen! The Binance Launchpool offers your last opportunity to acquire REZ before it is listed on Binance on April 30, 2024, at 12:00 (UTC). Therefore you should maximize your participation in the launchpool and optimize your farming of the REZ token to achieve the highest possible rewards!