Sirwin
Sirwin
The Binance Labs Investment Observer - Renzo Protocol

The Binance Labs Investment Observer - Renzo Protocol


Recently, I published an article about "Five Potential Projects to Launch on Binance Launchpad and Binance Launchpool in 2024". The main idea behind this article was to check the projects that Binance Labs Fund, the investment division of Binance, has invested in.

These projects must have a certain potential and there is a high chance that they will likely be launched on Binance Launchpad or Binance Launchpool. By keeping an eye on Binance's investment moves, you can participate in these projects in an early stage. Additionally, many projects of these projects offer airdrops to early adopters and supporters.

As I like this idea, I have decided to start a series called "The Binance Labs Investment Observer" to keep you updated on the latest investments and potential altcoin gems.

Today, Binance Labs Fund announced its investment in Renzo Protocol, which may lead to an airdrop as users can already start collecting points.

What Is EigenLayer?

EigenLayer is the latest Decentralized Finance primitive and be described as restaking. It allows you to stake your $ETH and secure Actively Validated Services that generate rewards in addition to staking rewards.

 

What Is Renzo Protocol?

Renzo Protocol can be described as EigenLayer’s Restaking Hub. It consists of Ethereum smart contracts that facilitate trustless collaboration between stakers, node operators, and Actively Validated Services.

These contracts allow users to restake their assets, delegate them to node operators, and interact with on-chain service modules, simplifying complicated processes and allowing people to work together more easily, as well as EigenLayer node operators.

Renzo Protocol serves as the interface to the EigenLayer ecosystem by securing Actively Validated Services and offering a higher yield than the traditional Ethereum staking.

Yi He, Co-Founder of Binance and Head of Binance Labs says

“Renzo’s technology addresses the complexities of Liquid Restaking, enabling more users to participate in Liquid Restaking. At Binance Labs, we are always seeking innovative DeFi projects that introduce novel use cases, and we look forward to witnessing Renzo’s growth in the Liquid Restaking sector.”

 

Potential Airdrop

Renzo Protocol has already introduced so-called ezPoints to reward early users who contribute to the success of the protocol. These points will later be relevant for a potential airdrop.

Participants in the Renzo ecosystem will receive ezPoints. The number of points will vary based on the duration and nature of participation, with the first way of getting points being by depositing Ethereum minting ezETH.

 

My Final Conclusion

I hope that I have provided you with valuable information on Renzo Protocol, the latest project invested in by the Binance Labs Fund.

If you follow the investments of the Binance Labs Fund, you can invest in projects at an early stage. To invest early in Renzo Protocol, you can collect points by using the protocol itself. The more points you gather, the greater your chance of receiving an upcoming airdrop.

However, this post is just reflecting my two gwei for the day and it should not be taken as investment advice. Always DYOR before making any investment.

If you are for some crazy reason not registered on Binance yet, you can use my referral link with the invitation code E3PGAJCE to sign up. Using it saves trading fees for each Binance trade, a win-win.

Thank you for reading! If you enjoy this type of content, follow me on Publish0x for more and if you like, you can also follow me on X and Medium.

You may also like: Five Potential Projects to Launch on Binance Launchpad and Binance Launchpool in 2024

 

 

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