Binance excited users by announcing the 53rd project of Launchpool, a cryptocurrency exchange. The new project is a liquid repurchase protocol Renzo It bears the name (REZ). Binance plans to make the web page for this project available within 5 hours before Launchpool starts.
Users will be eligible for six days starting April 24. REZ tokenThey will be able to stake their BNB and FDUSD in separate pools to farm their funds. Users, who will earn REZ tokens in this process, can’t wait for REZ to be listed, which will be available for trading with a number of trading pairs.
On the date REZ is scheduled to be listed, investors will be able to start trading REZ/BTC, REZ/USDT, REZ/BNB, REZ/FDUSD and REZ/TRY trading pairs. However, the “Seed Label” will be applied before starting the project.
Details of Renzo (REZ) Launchpool have also become clear. The maximum token supply is set at 10,000,000,000 REZ, while 250,000,000 REZ will be allocated as token rewards. Additionally, 1,050,000,000 REZ will be available, which is 10.50% of the initial circulating supply.
Staking conditions include a KYC requirement and a fixed upper limit per hour per user. Rewards earned from pools will be offered separately, supported by BNB and FDUSD. This will increase the chances of users earning Renzo tokens across their different assets.
During the Launchpool process, user balances and pool balances will be updated regularly and users will be able to accumulate and claim their rewards calculated every hour. Additionally, tokens staked in pools and unclaimed rewards will be automatically transferred to users’ accounts at the end of each period.
Binance is also integrating products such as BNB Vault and Locked Products to support Launchpool. In this way, users who have staked their BNB assets in these products will automatically be able to join Launchpool and earn new token rewards.
Finally, BNBs deposited into Launchpool will continue to provide standard benefits to users. These advantages include opportunities such as airdrop, Launchpad availability and VIP benefits of holding BNB.
Binance’s new project, Renzo (REZ) Launchpool, continues to create excitement in the cryptocurrency market while offering various opportunities to users.
