RenzoProtocol's ezETH token experienced a significant depeg, dropping to $688 briefly due to poor liquidity on Uniswap. This led to liquidations and losses in DeFi, with over $60M in liquidations reported. Renzo introduced REZ tokenomics, aiming to distribute 500M REZ on May 2nd.
RENZO'S ezETH DEPEGS SIGNIFICANTLY AFTER TOKENOMICS ANNOUNCEMENT Renzo's ezETH experienced a sharp depeg of 18.3%. This significant drop reflects the market's reaction to changes in the underlying economic model of the ezETH token. Source: The Block https://t.co/GEpl0AHV9Q
This week, Renzo (ezETH), a $3bn coin which is soft-pegged to ETH, briefly crashed down 80% relative to ETH. It is still trading at a 3% discount to ETH, despite the peg. A bit about what happened. 1) Every ezETH is backed by 1 ETH which is in Eigenlayer, earning yield. A… https://t.co/brf0p6Awhv
Super helpful to understand why ezETH depegged yesterday Thanks @0xBreadguy for breaking it down 👇 https://t.co/JmMEbUdilo
💥 #ARB_Universe Daily Digest 24.04.24 💥 @Inleoio enters @Maya_Protocol ecosystem to bring $LEO/ $CACAO pool 💥 @DefiLlama is now tracking @Bountive on @Starknet 💥 @BattleFlyGame joins @AstarNetwork Yoki Origin ecosystem 💥 @RenzoProtocol $REZ will be launching on… https://t.co/5OMiBFjxOb
Big updates from @RenzoProtocol! https://t.co/Y7O9HYXgEE
Renzo's ezETH token depegged 😶 Here's what you need to know 👇 https://t.co/BJaceBba8E
Renzo's ezETH depegs 18.3% following REZ tokenomics announcement on Binance https://t.co/auUfo1WVFu
Renzo’s ezETH falls as low as $700, leading to $56m in liquidations https://t.co/fbp3L54sWF
Depeg of $3B restaking token ezETH causes over $60M in DeFi liquidations https://t.co/M9I2nktS1z
From the completion of the fourth Bitcoin halving to a U.S. stablecoin bill that’s gaining attention—and a build your own layer 2 blockchain trend—there’s plenty to catch up on in this week's Crypto Water Cooler! https://t.co/Xp04hOGgHM https://t.co/Z0mbEdqaSw
Renzo (EZ) token has a maximum supply of 10,000,000,000, with an initial circulating supply of 1,050,000,000 (10.50% of the maximum supply). Predict it with me! https://t.co/RgiQMk5brI Can Renzo Restaked ETH break through $3500 within a month? #PredX #SEI #AI… https://t.co/sSYWIP2b2o
Renzo (EZ) token has a maximum supply of 10,000,000,000, with an initial circulating supply of 1,050,000,000 (10.50% of the maximum supply). The total amount available for mining is 250,000,000 tokens (2.5% of the maximum supply). Can Renzo Restaked ETH break through $3500… https://t.co/8Q3ejU2TE9
Weekly DeFi + L1L2 Update: 💧@Ethereum liquid restaking drives DeFi TVL to 2-year highs 🌱 @Cronos_chain unveils #SpringOdyssey campaign powered by @Galxe 📈 @runebtcxyz launch fueled Bitcoin miners’ earnings to surge Full details 👇 https://t.co/0zKu6GVjVN https://t.co/MoqolTUQ5d
Weekly DeFi + L1L2 Update: 💧 @Ethereum liquid restaking drives DeFi TVL to 2-year highs 🌱 @Cronos_chain unveils #SpringOdyssey campaign powered by @Galxe 📈 @runebtcxyz launch fueled Bitcoin miners’ earnings to surge Full details 👇 https://t.co/amcAwTYFUC https://t.co/0KeWo4GPRX
.@RenzoProtocol's LRT ( $ezETH ) depegged from $ETH last night. Most people have no idea wtf that means, but it sounds scary. Here are some pictures to explain how that was possible and why it's not scary right now but will be in the future. https://t.co/PxhbBzJAgH
1/🧵 • 50% of Gearbox ezETH TVL wiped out + debt • 150 liquidations on Morpho • Millions were lost during 78% ezEth depeg Yesterday was just a rehearsal before a major depeg event once EL points are over At @0xfluid we protect lenders and borrowers and had 0 liquidations https://t.co/Chrajmbt36
You think ezETH depeg is bad? We got the first lesson that holding LRTs is not risk-free but it'll probably get worse for LRTs. Eigenlayer just launched on mainnet with a few AVSes but two key upgrades will bring much more risk to restaking/LRTs: • Slashing • Permissionless…
Today in DeFi: Airdrops 🪂 - Renzo REZ Token Launch & Season 2 Updates 📰 - Jupiter Acquired Ultimate Wallet Issues 🚨 - Cross Chain Protocol Magpie Exploited for 130K - Renzo ezETH depegs Premium 💰 - >50% APR on Stables Subscribe to see more...👇🏻👀 https://t.co/manbrm2pgq
Pretty incredible - Renzo (ezETH) which is meant ot be pegged to ETH - dropped as low as US$700 today and many leveraged farmers got washed out. Trying to better understand the mechanics of what happened. ht @0xtommy_eth https://t.co/7Y92J3D3Ja
.@RenzoProtocol introduced $REZ tokenomics and ezPoints claiming details. Some highlights from Season 1: ▫️$3.5b in deposits ▫️33.5% Restaking Market Share ▫️Top 10 DeFi protocol by TVL ▫️250k+ users Claiming $REZ ▫️Renzo ezPoints will be used to distribute 500M REZ on May 2nd,… https://t.co/xnSeEZD5iR
What a joke @RenzoProtocol https://t.co/BHtwv6bqoI
So Renzo eth holders got so mad at that chart that they market dumped and it depeged by 30% liquidating the users that were leverage loop farming eigen points lol. Filled a small amount of cheap renzo eth which was nice thank you for your sacrifices
czsamsunsb.eth made 121.65 $ETH in just 2 hours after $EZETH(Renzo Restaked ETH) depegged! He spent 4,099 $ETH to buy 4,221 $EZETH successfully, making 121.65 $ETH! https://t.co/niluIilTRi https://t.co/hnPWt0DjZD
Or due to poor liquidity, Renzo Restaked ETH (ezETH) in Uniswap fell to a short-term minimum of $688 during 10:35-11:05 UTC+8. 0xAA…3eE57 spent 2,400 ETH to buy 2,499 ezETH, making a net profit of 99 ETH. Renzo is a new project of Binance Launcpool. https://t.co/3LnKihm7qI…
Ord ue to poor liquidity, Renzo Restaked ETH (ezETH) in Uniswap fell to a short-term minimum of $688 during 10:35-11:05 UTC+8. 0xAA…3eE57 spent 2,400 ETH to buy 2,499 ezETH, making a net profit of 99 ETH. Renzo is a new project of Binance Launcpool. https://t.co/3LnKihm7qI…
.#ezETH, the LRT of @RenzoProtocol dropped to $688 for a short period of time on Ethereum uniswap and is trading for 0.983 ETH for now. A large $ETH whale is continuously buying ezETH, holding 3915 $ezETH now. Address: https://t.co/SqgA6tpXaJ https://t.co/Bfz1aDkoJ1
Did @RenzoProtocol ezETH yield loopers on @MorphoLabs just get rinsed? https://t.co/MR5JxuGCCl
#PeckShieldAlert #Liquidation $ezETH #RenzoRestakedETH https://t.co/SeWPh6owxY
$ezETH depegged briefly to 0.5 $ETH or $1600 RIP leveraged points farmers https://t.co/wbgwqpmxh7
Fair and generous Kudos to the @RenzoProtocol team 🤝 https://t.co/kNaR2jZJbp