Ethereum

Based

2024

Renzo

April

<p class="is-style-lead">The Renzo team announced some changes to the conditions for the REZ token airdrop.</p> 
<p>According to the project, several&nbsp;changes&nbsp;are expected&nbsp;regarding the REZ airdrop.&nbsp;The Renzo team elected to increase the&nbsp;initial distribution volume&nbsp;from 5% to 7% after criticism towards the developers and the deposit of the ezETH LRT token.</p> 
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   https://twitter.com/RenzoProtocol/status/1783277589525594231 
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<p>In addition, the branding date&nbsp;has been postponed&nbsp;to April 30. Tokens can be requested an hour before the asset&nbsp;is listed&nbsp;on the Binance exchange, and the REZ share for the community will be 32% instead of 30%.</p> 
<p>The developers also stated that the minimum threshold for participation in the distribution would be 360 points, with 99% of addresses fitting this criterion. Requirements are higher for larger wallets.</p> 
<p>Addresses with a balance of more than 500,000 points will receive only 50% of the TGE drop, and&nbsp;the rest will be unlocked&nbsp;linearly over three months.</p> 
<p> You might also like: <a href="https://crypto.news/ethereum-exit-lido-ether-fi-renzo/" rel=""> Ethereum stakers exit Lido for Ether.fi, Renzo </a> </p> 
<p>The Renzo protocol team has previously been criticized, mainly due to the revelation that developers and large investors accounted for 65% of the REZ supply.</p> 
<p>Additionally, according to some commentators, the protocol team attempted to misrepresent the asset allocation by using an incorrect chart.</p> 
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   <p lang="en" dir="ltr">Renzo Protocol really tweeted a distribution chart like this and thought we wouldn't notice. <a href="https://t.co/KpGBVRoRGT" target="_blank" rel="">pic.twitter.com/KpGBVRoRGT</a></p>— Steven (@Dogetoshi) <a href="https://twitter.com/Dogetoshi/status/1782871193827135725?ref_src=twsrc%5Etfw" target="_blank" rel="">April 23, 2024</a>
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<p>On April 24, the LRT token of the Renzo protocol, ezETH, also lost its connection to Ethereum (<a href="https://crypto.news/tag/Ethereum/" target="_blank" rel="">ETH</a>).&nbsp;Its current&nbsp;ratio to the underlying asset fell to 1 to 0.5.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ezETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$ezETH</a> depegged briefly to 0.5 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$ETH</a> or $1600<br><br>RIP leveraged points farmers <a href="https://t.co/wbgwqpmxh7" target="_blank" rel="">pic.twitter.com/wbgwqpmxh7</a></p>— Wazz (@WazzCrypto) <a href="https://twitter.com/WazzCrypto/status/1782963673624961274?ref_src=twsrc%5Etfw" target="_blank" rel="">April 24, 2024</a>
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<p>The Renzo project <a href="https://crypto.news/binance-to-list-renzo-as-53rd-launchpool-token/" target="_blank" rel="">has become</a> the 53rd project in the Binance Launchpool. Binance will be the first platform to list the REZ&nbsp;token, and trading will begin on April 30.</p> 
<p> You might also like: <a href="https://crypto.news/glassnode-restaking-brings-new-yield-opportunities-for-ethereum-community/" rel=""> Glassnode: Restaking brings new yield opportunities for Ethereum community </a> </p>

Renzo team changes airdrop conditions amid community criticism

crypto.news

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