Renzo's ezETH depegs 18.3% following REZ tokenomics announcement

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The depeg was likely due to users wanting to exit ezETH after learning more about the REZ token's confusing distribution plan.

Renzo's Ethereum-pegged asset ezETH depegged significantly within the past 24 hours, data from The Block show.

Binance Labs, the crypto venture arm of the crypto exchange giant Binance, announced yesterday the token distribution plan for REZ, Renzo's governance token. Of the 10 billion total token supply and 1.05 billion circulating supply, 10% of that REZ would go to airdrops. Half of that 10% would go to a season 1 airdrop.

 

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