Binance Adds Renzo as 53rd Launchpool Project, Invites Users to Farm EZ Token

Binance, the world's largest crypto exchange by trade volume, has announced Renzo, a liquid restaking protocol, as its 53rd project in the Binance Launchpool. Users are invited to farm Renzo's native token, EZ, for a limited time, which will be followed by Binance becoming the first exchange to list the token for trading.

Binance Announces Renzo as Its 53rd Launchpool Project

New Delhi, India, April 24, 2023 - Binance, the world's leading cryptocurrency exchange by trading volume, has announced the addition of Renzo as its 53rd project in the Binance Launchpool. This highly anticipated collaboration marks a significant milestone for both Binance and Renzo, a liquid restaking protocol and strategy manager for EigenLayer.

Founded in 2023 by James Poole and Lucas Kozinski, Renzo has emerged as a prominent player in the crypto ecosystem. Its innovative liquid restaking token (LRT), ezETH, empowers users to gain exposure to restaking while maintaining liquidity, a feature that has garnered immense interest among crypto enthusiasts.

Binance Launchpool: A Platform for Promising Projects

Binance Launchpool serves as a platform for promising crypto projects to gain early support and exposure. By participating in Launchpool, users can farm the project's native token during a limited period, providing them with a unique opportunity to acquire the token before it becomes available on the open market.

Renzo (EZ) Token Farming

Binance has invited users to participate in the farming of the Renzo (EZ) token, which will commence on April 24 and conclude on April 29. Users can stake BNB and FDUSD into separate pools to earn EZ rewards. The Launchpool token reward for Renzo is a substantial 250,000,000 EZ, representing 2.5% of the token's maximum supply. The BNB staking pool will receive 85% of the rewards (212,500,000 EZ), while the FDUSD pool will receive 15% (37,500,000 EZ).

Binance Listing and Trading

Binance anticipates listing EZ for trading once the farming period ends. The exchange will be the first platform to offer EZ trading, with the launch scheduled for April 30, 2024, at 12:00 UTC. Trading pairs for EZ will include EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD, and EZ/TRY.

Initial Token Supply and Distribution

EZ has a maximum supply of 10 billion tokens. However, the initial circulating supply at launch will be 1,050,000,000 EZ, representing 10.50% of the maximum token supply.

Caution Against Unauthorized Offerings

Binance has emphasized that any claims to offer EZ for sale before the stated timeline are false advertising. The exchange urges users to conduct thorough research and exercise caution to ensure the safety of their funds.

Binance's Commitment to Innovation

The addition of Renzo to Binance Launchpool underscores Binance's unwavering commitment to supporting innovation and the growth of the crypto ecosystem. Binance's global reach and extensive user base provide a fertile platform for promising projects like Renzo to showcase their potential and gain adoption.

About Binance

Binance is the world's leading cryptocurrency exchange by trading volume, offering a comprehensive suite of products and services to users worldwide. The exchange provides access to a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin (BNB). Binance is dedicated to promoting blockchain adoption and fostering the growth of the digital asset ecosystem.

About Renzo

Renzo is a liquid restaking protocol and strategy manager for EigenLayer. It enables users to obtain exposure to restaking while maintaining liquidity through its ezETH token. Renzo was founded in 2023 by James Poole and Lucas Kozinski and has quickly established itself as a leading player in the liquid restaking space.