In a recent announcement, the major cryptocurrency exchange Binance introduced Renzo (EZ) as its 53rd project on the Binance Launchpool, featuring a unique liquid restake mechanism. The launch is set to commence with a token farming period which will span from April 24 to April 30, giving participants an opportunity to earn EZ tokens by staking BNB and FDUSD.
Details on Farming and Staking
Under the new scheme, the staking page for BNB and FDUSD will activate five hours before the farming period starts, allowing users sufficient time to familiarize themselves with the platform rules and how to participate. The farming, scheduled to begin at 03:00 AM on April 24, invites users to engage in earning EZ tokens by staking in specifically designated pools.
The total supply of EZ tokens is capped at 10 billion, with 250 million tokens allocated as rewards for launchpool participants, constituting 2.5% of the total supply. The initial circulating supply will be over 1 billion tokens, which amounts to about 10.50% of the total capped supply. The distribution during the farming phase will allocate 85% of the tokens to the BNB pool and the remaining 15% to the FDUSD pool.
Post-Farming Trading Opportunities
Following the farming phase, Binance plans to list EZ tokens for trading at 03:00 PM on April 30. The new listing will permit trades across multiple pairs including EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD, and EZ/TRY, thus broadening the trading options for participants.
Points to Consider
- The farming period offers a strategic opportunity for investors to accrue EZ tokens by staking BNB and FDUSD.
- With a significant portion of the tokens being distributed from the BNB pool, participants using BNB might see more substantial rewards.
- The listing on Binance could potentially enhance the liquidity and value of EZ tokens post-farming period.
This new project by Binance marks yet another significant addition to its Launchpool platform, providing both novice and seasoned investors a gateway to engage with new token offerings in a regulated and secure environment.