Binance, the world’s largest cryptocurrency exchange, announced last night that it has launched the 53rd new coin mining project on its Launchpool: the Renzo (EZ) liquidity restaking protocol. Users are allowed to participate in the 6-day mining activity starting from 8:00 am on April 24, 2024, Taipei time by depositing BNB and FDUSD into the EZ mining pool on the Launchpool website.
At the same time, Binance will also list Renzo (EZ) spot trading at 8:00 pm on April 30, and open trading pairs such as EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD, and EZ/TRY, with seed labels added. Binance emphasized that it will be the first platform to list the token, and any claims of selling the token before the specified timeline are false advertisements that investors should be aware of.
Detailed information about the Renzo Launchpool is as follows:
Token name: Renzo (EZ)
Maximum token supply: 10,000,000,000 EZ
Initial circulation: 1,050,000,000 EZ (10.50% of the maximum token supply)
Total mining supply: 250,000,000 EZ (2.5% of the maximum token supply)
Smart contract details: Ethereum
Restrictions: KYC required
Individual hourly mining cap: BNB pool: 147,569.44 EZ; FDUSD pool: 26,041.67 EZ
Renzo is a liquidity restaking protocol based on the Ethereum restaking protocol EigenLayer, which allows users to easily restake Ethereum on EigenLayer. Lucas Kozinski, one of the main contributors to Renzo, stated that Renzo was created to enable users to participate more effectively on EigenLayer.
According to Binance, the token economics of Renzo are as follows:
Total token supply: 10,000,000,000
Initial circulating supply: 1,050,000,000
Binance Launchpool: 2.5% of the total token supply
Airdrop: 10% of the total token supply
Investors and advisors: 31.56% of the total token supply
Team: 20% of the total token supply
Foundation: 13.44% of the total token supply
DAO treasury: 20% of the total token supply
Liquidity: 2.5% of the total token supply
Almost at the same time as the launch of Renzo’s new coin mining on Binance, the platform’s token BNB entered an upward trend, rising from around $600 to a high of $619.8. However, at the time of writing, most of the gains have been retraced, with BNB currently trading at $605.9, a 0.34% decrease in the past 24 hours.