Renzo has allotted 32% of the full tokens to the group.
The protocol tweeted that the token was not but out there on decentralized exchanges, nonetheless Dextools knowledge exhibits the token is being traded on Uniswap.
50% of the tokens amassed by customers with greater than 500,000 ezPoints are topic to a three-month vesting interval.
Liquid restaking protocol Renzo has opened airdrop claims for its native token (REZ), which has debuted at a $289 million market cap, in accordance with CoinMarketCap.
The preliminary circulating provide of REZ is 1.15 billion, with the remaining 8.85 billion tokens remaining locked up till numerous standards are met. 31% of the tokens have been allotted to traders, 32% to the group and 20% to core contributors, who’re topic to a 1-year lock up and 2-year vesting interval.
Renzo is a protocol that acts as a portal to EigenLayer by securing actively validated providers (AVS). Customers that stake ether (ETH) on the platform generate a yield and routinely obtain ezETH, Renzo’s liquid restaking token, which can be utilized to generate a better yield throughout numerous decentralized finance (DeFi) protocols.
Customers holding greater than 500,000 ezPoints, which have been amassed by staking on Renzo following its launch in January, are topic to a 50% lockup over a three-month vesting interval.
Renzo stated in a tweet that REZ was not out there to commerce on any decentralized trade, though the official token contract posted on Renzo’s web site had racked up $75 million in buying and selling quantity an hour after claims went stay, Dextools knowledge exhibits.
