Today we will talk about the 53rd launchpool project - Renzo (REZ), a liquidity re-staking protocol. In fact, we have talked about this restaking project before when we talked about the restaking track. At that time, we talked about several projects such as etherFi, renzo, swell, kelp, etc. We also said that etherfi is currently far ahead in terms of technology and TVL scale, so we recommended that if you don’t have enough energy, you can choose etherfi for restaking. However, from the perspective of TVL volume, RENZO has also caught up. Although there is actually no big difference in technology, there is actually no strong technical barrier to restaking. Then this issue still focuses on the prediction of currency prices.

This project will be launched at 20:00 on April 30, 2024. The maximum supply of tokens is 10,000,000,000 REZ

Initial circulation: 1,050,000,000 REZ (10.50% of the maximum token supply)

Total mining amount: 250,000,000 REZ (2.5% of the maximum token supply)

Introduction

Renzo (the protocol) is a protocol on Ethereum that simplifies complex staking mechanisms for end users and enables fast collaboration with EigenLayer node operators and Active Validation Services (AVSs).

ezETH is Renzo’s liquidity re-staking token, allowing its holders to gain re-staking opportunities while having liquidity.

However, Renzo supports more LSD tokens, not only eth chain, BSC chain, ARB chain, coinbase chain, linea chain, etc. And Renzo also provides native ETH rewards, EigenLayer points and ezPoints rewards.

Looking at the data, the current TVL is 3.4 billion US dollars, and Etherfi’s TVL is 3.7 billion US dollars. In the previous program (February 2), Renzo’s TVL was 160 million US dollars, and EtherFi’s TVL was 500 million US dollars, so the TVL difference was nearly 3 times.

However, Renzo is catching up very fast, and has increased its TVL by 3 billion in just over a period of time. Especially after Etherfi went online, people saw that Etherfi had made a lot of airdrops and made a lot of money, and then these people deposited their money into Renzo.

Token Economy

The current total amount of tokens is 10,000,000,000. In terms of token distribution, the DAO treasury holds 20%, the team holds 20%, investors hold 31.5%, the foundation holds 13.4%, airdrops hold 10%, and launchpool holds 2.5%. The proportion of airdrops is still relatively high, so this wave of staking should also be able to make a small profit. In addition, the proportion of the team + foundation + dao treasury is a bit too much.

Then we estimate the price of the token. First, from the previous launchpool's revenue, the general revenue is about 1-2%. This time, 18 million tokens are staked. The current price of BNB is 600 US dollars, so the overall revenue of 1%-2% is 100-200 million US dollars. Currently, there are 212,500,000 REZ allocated in the BNB pool, so the price of a single token is about 0.5-1 US dollars. Then the overall FDV will reach 10 billion US dollars.

Then let's review the previous data of ethfi. When ethfi was launched, it was also on launchpool. The total number of ethfi was also 1 billion, and the initial unlocking was also 11%. At that time, the airdrop amount was 20 million, and the BNB pool was 16 million. The launch price was about 4 US dollars. So the overall FDV is about 4 billion US dollars.

If we compare it with the issue price of ethfi, then the price of renzo will be around 0.3-0.4 USD. At present, there are many projects in the staking track, and the homogeneity is very serious. Then they are all in a hurry to go online. In fact, these staking projects are essentially not very helpful to the blockchain world and are meaningless. Moreover, the market value is several billion at the beginning, and the bubble component is a bit large. Because Ethereum's transformation into POS has made staking the mainstream gameplay, and then you say that the equity assets after staking are not circulated, I am giving you a layer of dolls, then can this doll be infinitely placed? Then how to control the risk, this is all a problem. V God also made it clear not to overload the consensus of Ethereum.

Finally, let's summarize. For the current stage, BNB mining is indeed a relatively good and stable way to make money. Thanks to this series of launchpools, BNB has also risen from the bottom to more than 3 times. Counting the gains from the bull market, there is no problem in seeing $1,200 this time. In addition, there are several launchpool projects every month, so the annualized return is about 50%, which is very good. #新币挖矿 #BNB