Binance's latest Launchpool project Renzo @RenzoProtocol mining is in progress. Friends who often read my content know that I pay more attention to projects launched on Binance Launchpool. The Renzo project launched this time is also a relatively outstanding project in the hot liquidity re-staking track this year. In addition, the project has experienced a series of things such as ezETH depegging and the modification of airdrop claim time in the past few days. The community discussion is also high. Therefore, today's content will share with you the basic situation of the Renzo project, my views on recent hot spots, and how to participate in Binance Launchpool.
First, let's take a look at the situation of this Binance Launchpool: Again, I recommend everyone to participate. This mining activity will start at 8:00 on April 24th, Beijing time. Users can invest BNB and FDUSD in Launchpool to obtain mining rewards. The activity will last for 6 days. Binance will list Renzo at 20:00 on April 30 and open REZ/BTC, REZ/USDT, REZ/BNB, REZ/FDUSD and REZ/TRY trading markets.
Secondly, let's take a look at the basics of the Renzo project: It can be said that Renzo is a first-tier project in the current re-staking track. As one of the earliest projects to enter the re-staking track, its TVL is second only to http:/Ether.fi, which is currently about US$3.3 billion. In terms of project mechanism innovation, Renzo runs on EigenLayer. In order to solve the problem that the liquidity of ETH will be locked after re-staking, Renzo uses the derivative token ezETH to release liquidity; in order to solve the problem that different AVS configuration strategies will present different benefits and risks as the number of EigenLayer AVS increases, Renzo can use its algorithm to balance benefits and risks in real time, replace users to make complex configuration choices, and help users achieve stable high returns. In terms of financing, we also saw many familiar VCs, such as Maven 11, IOSG Ventures, OKX Ventures, etc. Renzo is also the first project officially announced by OKX Ventures in the EigenLayer ecosystem. Not only can it obtain investment from OKX Ventures, but it can also be listed on Binance Launchpool. This is not only a recognition of the basic base of the project, but also shows the powerful resource attributes behind Renzo.
Although the basic project has passed, the series of controversial events that have occurred in Renzo recently are also thought-provoking: According to the detailed token distribution rules announced by Renzo on April 24, the dissatisfaction mainly comes from three points: the first point of controversy comes from the fact that the proportion of tokens allocated to protocol deposit users is only 5%, which is really not much, especially for the re-staking project where depositors are the breadwinners; the second point of controversy comes from the fact that users who sold ezETH holdings before the first quarter Renzo incentive on April 26 may not be eligible for airdrops, and many users said they were "let down"; finally, Binance will list Renzo on April 30, but users will receive the Renzo airdrop on May 2, which is equivalent to not getting any early market dividends. Once the details were announced, the price of Renzo's ETH deposit certificate token ezETH once plunged. Although the time of significant decoupling was very short, I also saw some people taking advantage of this to successfully pick up leaks and make a lot of ETH.
In the face of community dissatisfaction, Renzo also responded quickly: the airdrop claim date was adjusted to April 30 (that is, 1 hour before Binance went online); the token allocation ratio for the community increased from 30% to 32%, and the airdrop allocation ratio increased from 10% to 12%; in addition, the minimum qualification for each wallet airdrop is 360 ezPoints, and wallets with more than 500,000 ezPoints will unlock 50% at TGE, and the remaining part will be linearly vested within 3 months. This design has greatly reduced the market selling pressure and is also very beneficial to retail investors. I saw some people in the community jokingly called this move "allocation according to the noise", but I think the airdrop design at the beginning of the project was indeed inappropriate, but the team's timely response did appease the community's emotions to a certain extent.
Finally, I think everyone can still participate in the launch of Renzo on Binance Launchpool this time. We can also see that the token rewards of this Launchpool account for 2.5% of the total supply of Renzo tokens, which may also be a good way to obtain chips. At present, the over-the-counter price of ezPoints is about 0.12. Based on the previous logic and the distribution of chips this time, I personally predict that the launch price of Renzo may be between 0.4 and 0.6. Of course, the above sharing content is based on personal observations and does not represent any investment advice. The risk of the crypto market is extremely high. The above is the content of this issue. Welcome to leave a message for discussion.
