Coinspeaker
Renzo (REZ) Addresses Community Backlash with Airdrop Adjustment and Token Stabilization Efforts

Renzo, a liquid restaking platform, has announced changes to its airdrop allocation and token distribution strategy. These moves come in response to mounting community outrage and the temporary depeg of its liquid restaking token – ezETH.

The protocol has increased its airdrop allocation from 5% to 7% of its tokens in the first season. This adjustment aims to distribute a larger portion of tokens to eligible participants, with 7% of the tokens being allocated in the initial phase, which goes live at the end of the month, and 5% in subsequent phases. In total, 12% of the 10 billion token supply is earmarked for user airdrops.

Renzo, the second-largest liquid restaking protocol with over $3 billion in total value locked (TVL) according to DefiLlama, has also strategically rescheduled its claim date to April 30th. This move is timed an hour before the protocol’s incoming token REZ listing on the Binance exchange, an event that has already garnered interest...