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Binance Announces Addition of Renzo to Launchpool for Staking and Upcoming Token Listing

Earning opportunities with Renzo on Binance launchpool

Binance, the world's leading cryptocurrency exchange, has introduced Renzo (REZ) as the newest addition to its Binance Launchpool platform, offering users the opportunity to earn REZ by staking BNB and FDUSD.

Key takeaways:

  • Renzo (REZ) tokens can be earned by staking BNB or FDUSD on Binance Launchpool until April 29.
  • Binance will distribute 2.5% of the total REZ token supply through Launchpool, equivalent to 250 million REZ tokens.
  • Renzo is set to be listed on Binance with trading pairs against major cryptocurrencies starting April 30.

From April 24 to April 29, Binance users have the unique opportunity to earn Renzo (REZ) tokens by staking BNB or the FDUSD stablecoin on the Binance Launchpool. This initiative allows participants to withdraw their staked assets at any point during the staking period while retaining the accrued REZ tokens. 

The total REZ tokens allocated for distribution via Launchpool amount to 250 million, which represents 2.5% of the overall supply. This allocation will primarily benefit BNB stakers, who are eligible to receive 85% of the distributed tokens, while the remaining 15% will go to those staking FDUSD.

Token distribution and trading details

Binance is set to list the REZ token for trading on April 30 at 12:00 UTC, introducing trading pairs against major currencies such as BTC, USDT, BNB, FDUSD, and TRY. The listing will feature a "Seed Tag" to inform users of the potential high volatility and risk associated with new projects like Renzo, which are still in their early development stages. This tag is part of Binance's effort to ensure transparency and educate its users about the risks involved in trading newer cryptocurrencies.

Overview of Renzo and Its Role in the EigenLayer Ecosystem

Renzo operates as a liquid restaking protocol within the EigenLayer ecosystem, designed to maximize yields for ETH holders through a user-friendly interface. By depositing ETH or liquid staking tokens like Lido's stETH, users receive ezETH tokens, which reflect staking rewards from decentralized services secured by EigenLayer. Renzo automatically optimizes restaking strategies to balance risk and reward efficiently. 

Additionally, Renzo features a governance token, REZ, with a total supply of 10 billion, highlighting its decentralized approach to protocol management and community engagement.