What Is Renzo (REZ) Coin: Can REZ Hit $1？

Renzo (REZ) is a liquid restaking protocol that collaborates with EigenLayer node operators and Approved Validators (AVS) to simplify the staking process for users. With a goal of increasing earning opportunities and network security within the Ethereum ecosystem, Renzo (REZ) emerges as one of the largest liquidity restaking protocols that aims to provide an easy-to-use interface for the EigenLayer ecosystem. ETH holders can use Renzo to earn a higher yield than simply staking ETH.

The project is also the 53rd project of Launchpool on the cryptocurrency exchange Binance, where users can receive Renzo’s native token REZ by staking it between April 24 and 29 (UTC).

Then, what is Renzo (REZ)? Is Renzo (REZ) a good investment in 2024? In this article, we will take a detailed look at the Renzo (REZ) cryptocurrency.

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What is Renzo?

How does Renzo Work?

What is the REZ Token?

REZ Tokenomics

REZ Airdrop

Renzo (REZ) Staking

What Factors Impact the Price of Renzo (REZ)?

Renzo (REZ) Price Prediction

Is Renzo (REZ) a Good Investment in 2024?

How to Buy REZ Coin?

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What is Renzo?

Founded in 2023 by James Poole and Lucas Kozinski, Renzo (REZ) is a relatively new cryptocurrency project that functions as a Liquid Restaking Token (LRT) for the EigenLayer protocol. The protocol allows participants to be more actively involved in the stake, while its role as a policy manager helps manage the assets staked on the EigenLayer.

Here is the detail explanation about Liquid Restaking Token (LRT) EigenLayer:

Liquid Restaking Token (LRT): what differ Liquid Restaking Token from traditional staking is that LRTs provide liquidity.  Traders can trade them on cryptocurrency exchanges even while your underlying asset (in this case, Ethereum) is staked.

EigenLayer: a protocol designed to secure blockchain networks through a process called “Active Validation Services” (AVSs). Essentially, it allows users to earn rewards by contributing to the security of the network.

One of Renzo’s key features is its ability to abstract the complexities of staking from the end user. By collaborating with EigenLayer node operators and AVS, Renzo streamlines the restaking process, making it accessible to a broader audience. Users are not required to possess extensive knowledge of the technical intricacies of staking in order to participate and earn rewards. This user-friendly approach is designed to attract more participants to the staking ecosystem.

Renzo’s collaboration with EigenLayer node operators and AVS is a key aspect of its strategy. While EigenLayer provides a secure and efficient framework for node operations, AVS offer approved services that enhance the protocol’s functionality and security. This collaboration allows Renzo to provide a reliable and efficient staking platform for its users.

The launch of ezETH enables users to maintain liquidity while participating in restaking. ezETH is a reward-bearing token that reflects the rewards earned from decentralized services that use EigenLayer for economic security (in addition to the underlying rewards earned from ETH staking). In the EigenLayer ecosystem, these decentralized services are called as AVS (actively validated services). The Renzo protocol uses smart contracts and operator nodes to automatically identify the restaking strategy with the best risk-return on behalf of its users.

This is a significant advantage for users who want to earn staking rewards but still need access to their assets. By using ezETH, users can easily enter and exit the staking ecosystem without the constraints of traditional staking methods, which typically require assets to be locked for extended periods.

Renzo can be used by ETH holders to earn higher yields compared to simply staking ETH. Users can deposit ETH or liquid staking tokens (for example Lido’s stETH) to receive an equivalent amount of ezETH tokens.

At present, Renzo is the largest liquid restaking protocol, second only to Ether.fi stake, and maintains around $3.3 billion in total value locked, according to the crypto data tracking platform DeFiLlama.

On Jan. 15, Renzo raised $3.2 million in seed funding led by the investment fund Maven11 at a valuation of $25 million, The Block previously reported. Binance Labs also involved in the investment of the project, but the amount has not been disclosed.

How does Renzo Work?

The Renzo protocol framework enhances the functions of the Ethereum network, and its operation mechanism mainly set as below:

Deposits and mint: users deposit Ether (ETH) or Liquid Stake tokens (LST) into the protocol. Renzo then mints an equal amount of ezETH, representing the staking asset in liquid form.

Protecting the security of AVS: the protocol plays a vital role in protecting active verification services (AVS) on the EigenLayer, allowing users to stake their ETH and secure these services, resulting in additional rewards beyond traditional staking benefits.

Strategy management: as strategy manager, Renzo optimizes returns by selecting the most efficient AVS mix, thereby maximizing returns and minimizing risks associated with stake.

Revenue generation: the protocol facilitates revenue generation for ETH validators and, after launching AVS, increases restaking revenue through Renzo node operators who plug in these services.

Reward distribution: rewards generated by staking and protecting AVS are captured by the protocol and reflected in the value of ezETH, providing users with tokens that carry the fruits of their investment.

Enhanced participation: Renzo has introduced mechanisms such as ezPoints and EigenLayer Points, which reward users for their active participation and contribution to the success of the protocol.

Governance and decision making: governance structures such as snapshot voting and potential on-chain governance mechanisms are in place to guide policy decisions, including the selection of AVS supported by node operators.

According to the Renzo team, Renzo stands out in the crowded DeFi space for its unique multi-chain capabilities, which allow users to access a wider range of assets and services across multiple blockchain environments. This interoperability facilitates asset transfers and enhances liquidity and connectivity across the crypto ecosystem.

What is the REZ Token?

Cryptocurrency	Renzo Protocol
Token	REZ
Price	$ 0.0532 -0.51%
Rank	472
Market Cap	$ 87.0M
24H Trading Volume	$ 58.3M
All-time High	$ 0.2073
All-time Low	$ 0.0288
24 High	$ 0.0557
24 Low	$ 0.0493
Cycle High	$ 0.0674 / 2024-12-06 18:30:32
Cycle Low	$ 0.0288 / 2024-11-03 15:10:00
Update Time	2024-12-17 10:27:01

$REZ is a utility and governance token for the Renzo protocol. This coin plays a significant role within the protocol’s ecosystem and functions as the tool through which governance decisions are made.

According to Binance’s announcement, REZ tokens will be utilized for voting on governance proposals associated with the Renzo protocol. Some of these proposals will be pivotal to the operating procedure of the protocol.

The token initially had the ticker symbol EZ, but Binance and Renzo developers changed it to REZ following “confusion within the community.”

Holders of REZ tokens are capable of voting on governance proposals regarding various matters, including but not limited to:

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REZ Tokenomics

The total supply of REZ is 10 billion tokens and initial circulating supply is 1,150,000,000. Here is the planned REZ token distribution:

• Investors & Advisors: 31.56%
• DAO Treasury: 20%
• Team: 20%
• Foundation: 13.44%
• Airdrop: 10%
• Liquidity: 2.5%
• Binance Launchpool: 2.5%

Update: due to strong community dissatisfaction with Renzo’s original token allocation, Renzo updated its tokenomics on April 25 and increased its total community token allocation from 30% to 32%, and total airdrop allocation from 10% to 12% (total supply increased from 5% to 7% in season 1). Liquidity and the fund bear the extra 2%).

REZ Airdrop

Renzo’s season 1 rewards will conclude on April 26, and any users who sell their ezETH holdings before that date may not be eligible for the airdrop. Users can go to claim.renzoprotocol.com to claim their REZ on April 30th. Vested airdrop wallets can claim their tokens at the end of every month.

The community will distribute 500 million REZ (5% of the total) linearly based on ezPoints accumulated for users. The top 5% of addresses will have 50% of their tokens unlocked immediately, with the remainder released linearly over 6 months.

Season 2 rewards will begin immediately on April 26. In addition, 2% of the 5% airdrop in season 1 (i.e. 0.1% of the total token supply) was allocated to the following NFT communities: Milady Maker and SchizoPosters.

Renzo New Rules for Airdrops

According to Renzo’s announcement on April 25, the airdrop share is now increased to 12%, and the claim date is changed to 19:00 on April 30.

In addition, the minimum qualification for each wallet airdrop is 360 ezPoints, and most airdrop addresses can be fully unlocked after TGE. The largest wallets holding greater than 500k ezPoints will be subject to a 50% unlock at TGE and 50% linear vesting over 3 months.

Renzo (REZ) Staking

$REZ staking enables users to stake their $REZ and boost their ezPoints based on staking and Renzo ecosystem activity.

A. Season 1 ezPoint Boost

Info: All Season 1 users will receive a 10% boost on their total ezPoints balance at the end of Season 2. No minimum ezPoints requirement.

B. Season 2 Baseline: $REZ Staking

Info: All users who stake $REZ get 1 ezPoint for every 5,000 $REZ staked per hour prorata

Example 1: Staking 5k $REZ = 1 ezPoint per hour

Example 2: Staking 2.5k $REZ = 0.5 ezPoints per hour

Timelines:

• Start / End Date: The start date for calculating daily average $REZ staked begins on May 22nd, 2024 and will run until the end of Season 2

• Unstaking / Cooldown: Users can unstake their $REZ tokens at any time, but doing so will stop the accumulation of ezPoints. A 7-day cool down period must be initiated and observed before unstaking $REZ tokens.

What Factors Impact the Price of Renzo (REZ)?

As a digital asset, the cryptocurrency market encompasses numerous variables that either propel or depress the price of Renzo (REZ). Below is a comprehensive analysis of the key factors influencing Renzo (REZ)’s price trends:

• Market Sentiment: Positive or bullish market sentiment typically sparks an upward trend in prices, whereas negative or bearish sentiment can contribute to price declines.
• Adoption: The demand for REZ is heavily influenced by its adoption rate. An increase in the widespread use of REZ by both businesses and individuals serves as a catalyst for price appreciation.
• Regulatory Framework: Governmental regulations pertaining to cryptocurrencies, including REZ, can exert a profound impact on their prices, either positively or negatively.
• Renzo Protocol Development: Any advancements, upgrades, or enhancements made to the Renzo Protocol can enhance its overall value and potentially boost its price.

Renzo (REZ) Price Prediction

As of writing this article, REZ is traded at $ 0.0532, boasting a market cap of $ 87.0M, and witnessing a hefty 24-hour trading volume of $ 58.3M. REZ Token saw a 24-hour change of -0.51%, with minor fluctuations of -0.98% in the past hour.

The following sets the REZ to USD Chart.

Renzo Chart

For more information about Renzo (REZ) coin, please visit BTCC REZ quote page.

 Renzo (REZ) Price Prediction 2024

In terms of Renzo price prediction for 2024, based on current analysis data, it is predicted that Renzo would be traded within the range of $0.6606 on the lower end and $1.59 on the high end by the end of year 2024. The anticipated average cost is positioned around $1.12 for the entirety of 2024, offering investors valuable insights into potential future trends.

The following sets the potential price change for next half month on Renzo:

 Renzo (REZ) Price Prediction 2025

As for Renzo price prediction for 2025, it is predicted that REZ’s potential highest price level can reach $ 0.0799 by 2025. However, if the market is bearish, the lowest price for REZ this year could fall to $ 0.0467. Consequently, the average forecast for REZ’s price in 2025 stands at an encouraging $ 0.0703, reflecting a dynamic trajectory in the crypto market.

Renzo (REZ) Price Prediction 2030

As for long-term price prediction for 2030 on Renzo (REZ),  it is expected that  Renzo (REZ) could see significant growth and it has the potential to reach a peak price by the end of 2030, with prices reaching $ 116.32%. However, if the cryptocurrency market experiences a significant bearish trend, the minimum price of the REZ coin could fall to $ 0.0684 by 2030. Consequently, the average forecast for REZ’s price in 2030 stands at an encouraging $ 0.1110

Renzo (REZ) Price Prediction 2050

As for long-term price prediction on Renzo (REZ) for 2050, the potential lowest price of Renzo (REZ) in 2023 is projected to fall to $ 0.1910 while the highest possible price is predicted to be $ 0.3426. The average price of Renzo (REZ) in 2030 is estimated to be $ 0.3165.

There is large uncertainty about the future price of $REZ, as the cryptocurrency market changes rapidly. With this in mind, we have made both more bullish and more bearish forecasts for $REZ based on a variety of different scenarios.

Potential highs & lows of Renzo

Here’s a quick look at the potential highs and lows of $REZ’s price between 2025 and 2050.

Is Renzo (REZ) a Good Investment in 2024?

Notably, Renzo Protocol has quickly emerged as a leader in the Decentralized Finance (DeFi) space, boasting significant growth in both active users and Total Value Locked (TVL). This growth has catapulted Renzo into the top 10 DeFi protocols, reflecting its robust market acceptance and user trust.

Renzo Protocol not only simplifies the complexities associated with liquid staking but also positions itself as a pivotal bridge to the EigenLayer ecosystem. By doing so, it ensures that users can leverage Ethereum’s robust security model while participating in Actively Validated Services (AVSs) that enhance their staking rewards. Through these innovations, Renzo is set to redefine the landscape of staking protocols, making it a significant player in the DeFi space as we move into 2024 and beyond.

According to the comprehensive analysis of Renzo (REZ) and its burgeoning position within the Decentralized Finance (DeFi) sector, it’s evident that REZ embodies a blend of innovative technology, strategic growth initiatives, and a deeply rooted community engagement strategy.

Looking ahead, Renzo is poised to embark on a promising journey in the digital asset landscape, with projections indicating a potential market capitalization of between $400 million and $500 million. This forecast aligns with the performance of similar launchpool projects, suggesting a robust entry into the market. . The anticipated listing price of REZ is estimated to be within a range of $0.30 to $0.50, offering a favorable entry point for prospective investors seeking to capitalize on this emerging opportunity.

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How to Buy REZ Coin?

On April 24th, 2024, REZ became available for farming on Binance Launchpool. This allows users to stake BNB and FDUSD to earn REZ tokens for a limited time.

At present, REZ USDT-margined perpetual futures contracts with a leverage of up to 50x are now available on BTCC platform, if you are interested. If you are interested in REZ coin, you can buy it from BTCC crypto exchange.

The following sets forth the guidance for REZ USDT-margined perpetual futures contract trading on cryptocurrency exchange BTCC:

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step Two: on the BTCC official homepage, choose “Deposite”, and then fund your account through your preferred methods.

Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find REZ coin trading pair.

You can also directly click the button below to enter the REZ order page⇓

Step Four: choose the contract trading order type. Futures contract orders on BTCC platform include market orders, limit orders and SL/TP orders.

• Market Order: users place orders at the best price in the current market to achieve fast trading.
• Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
• SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

Step Five: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Six: choose the lot size and set the SL/TP price .

Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Eight: click the buy or sell button, and the REZ coin futures contract order is completed.

That’s all information about Renzo (REZ). If you want to know more information about Renzo (REZ) coin and other cryptocurrencies, please visit BTCC Academy.

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