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Binance Launches Renzo Protocol (REZ) with Massive Surge: Investors Cautioned
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Renzo Protocol (REZ) Listing on Binance Triggers 2900% Surge
Binance Launchpool, the leading cryptocurrency exchange globally, introduced Renzo Protocol (REZ) today, offering trading pairs including REZ/BTC, REZ/USDT, REZ/BNB, REZ/FDUSD, and REZ/TRY.
REZ debuted on Binance at $0.0098, witnessing an astounding surge of 2960%, reaching $0.299. Currently, REZ is trading at $0.177, marking a significant increase. Investors participated by staking BNB and FDUSD to earn REZ.
Renzo Protocol initiated airdrop requests for REZ, initially valued at $289 million. The total circulating supply of REZ stands at 1.15 billion, with 8.85 billion tokens remaining locked until specific conditions are met.
Allocation details include 31% for investors, 32% for the community, and 20% for core participants, subject to lock-in and vesting periods.
Amidst the listing on Binance and the commencement of airdrop requests, the Renzo team cautioned investors about counterfeit REZ tokens, emphasizing that REZ is exclusively available on the ETH Mainnet and not on any decentralized exchange (DEX).
The team's warning:
"REZ is not available on any DEX.
Beware of counterfeit REZ tokens and accounts.
REZ token is ONLY available on ETH Mainnet.
There are NO DEX trading options currently available.
All DEX pairs will be announced through our verified account.
REZ will be listed on Binance."
The surge in fake REZ tokens underscores the importance of vigilance among investors in navigating the cryptocurrency market.
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