REZ Listed on Binance with Trading Pairs
Binance Launchpool, the world’s largest cryptocurrency exchange, has listed the Renzo Protocol (REZ) with several trading pairs, including:
- REZ/BTC
- REZ/USDT
- REZ/BNB
- REZ/FDUSD
- REZ/TRY
REZ Price Skyrockets, Then Pulls Back
Upon its launch, REZ opened at $0.0098 and quickly rose by 2960% to $0.299. The price has since corrected and is currently trading at around $0.177 at the time of writing.
Investors had the opportunity to stake Binance Coin (BNB) and First Digital USD (FDUSD) to earn REZ through the Binance Launchpool.
Details on REZ’s Circulating Supply and Market Value
Renzo Protocol’s initial circulating supply is 1.15 billion tokens, with the rest (8.85 billion) remaining locked until various conditions are met. The token launched with a market value of $289 million.
The distribution of the token’s supply is as follows:
- 31% to investors
- 32% to the community
- 20% to core participants, subject to a 1-year lock-in and 2-year vesting period
Renzo Team Warns of Fake Tokens and DEX Risks
In a recent statement, the Renzo team cautioned investors about the risk of fake REZ tokens circulating in the market. They clarified that REZ is not available on any decentralized exchange (DEX). The team stated:
“There is an increase in fake REZ tokens and accounts. Please be careful:
- REZ token is ONLY available on ETH Mainnet
- There are NO DEX trading options currently available
- All DEX pairs will be announced to the community through our verified account
REZ is only listed on Binance at this time.”
BSCN is aiming to become the leading media coverage platform around the Binance Smart Chain Ecosystem. With a strong focus towards Content Quality, Decentralized platforms, Hot topics in the market, Informative and education sources and guidance in how to be more aware around unreliable crypto projects.
