Renzo Proposes 500 Million REZ Allocation to Communities in 5 Months

Bittime - Restaking protocol Renzo proposes a proposal "Renzo Amore" which aims to distribute 500 million REZ tokens (5% of total supply) as community incentives within 5 months.  

Token Allocation and Distribution Plan

Proposal "Renzo Amore" includes a retroactive distribution of 400 million REZ to eligible wallets and 100 million REZ to incentivize DEX liquidity providers. 

This distribution process will begin on July 30 with voting that will last for 5 days on Snapshot. All REZ holders have the right to participate in this voting.

Renzo Ecosystem Improvements

The first and second seasons of the Renzo points program showed tremendous growth and participation, with over 130 DeFi integrations across 8 chains and reaching a TVL (of $2 billion. 

With this success, Renzo Amore is proposed to allocate 5% of the total REZ supply for 5 months to reward loyal community members and encourage continued participation in the Renzo and DeFi ecosystem.

Detail of Renzo Proposal 

• Timeline: July 26 to the end of November 2024
• REZ Allocation:
  • 400 million REZ will be distributed retroactively to eligible wallets.
  • 100 million REZ will be distributed to DEX liquidity providers to add liquidity to the ezETH/ETH and pzETH/wstETH pools for 16 weeks.
  • REZ tokens not used for DEX liquidity emissions will be returned to the DAO treasury at the end of the campaign.
• Voting options:
  • For: Agree to allocate 500 million REZ for community incentives.
  • Against: Disagree to allocate incentives.
  • Abstain: Neutral, neither for nor against.

Voting will begin on July 30, 2024 and last for five days. REZ holders, including REZ stakers, are expected to participate in this proposal. 

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