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Binance Introduces Renzo Token (EZ) as 53rd Launchpool Project

Binance, the leading cryptocurrency exchange, is set to offer its users the opportunity to participate in the launch of EZ, the native token of the liquid staking protocol Renzo.

As announced, Renzo (EZ) will be listed on Binance Launchpool as the 53rd project on April 30. The token’s maximum supply is capped at 10 billion, with an initial supply of 1.05 billion EZ coins.

Binance had previously invested in the Renzo protocol back in February, although the exact amount of the investment remains undisclosed. The investment was made through Binance Labs, the exchange’s venture capital arm, which now operates as an independent entity. At the time of the investment, Binance Labs boasted a portfolio supporting over 250 crypto protocols and was valued at $10 billion.

Renzo Emerges as a Key Player in the Liquid Restaking Market Since its mainnet launch in October last year, the Renzo protocol has become a significant player in the Ethereum (ETH) liquid restaking market. Data from DefiLlama indicates that users have deposited a total of $3.39 billion into the Renzo platform.

Renzo has experienced a notable 144% increase in user demand over the past month, making it the second-largest liquid restaker on Ethereum. It follows Ether.fi, which leads the market with $3.82 billion in total value locked.

Liquid restaking protocols, including Renzo, have emerged from EigenLayer, a platform enabling users to secure other chains and decentralized applications (dApps) by repurposing staked ETH. This initiative not only provides an additional yield source for stakers but also introduces derivative tokens to enhance on-chain utility.

While the liquid staking sector has surpassed a valuation of $10 billion, opinions among experts vary regarding the associated risks. Some argue that the risks are overstated, while others advise caution for participants in the market.

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