Renzo Expands REZ Governance Token to Solana via Wormhole NTT Framework

Renzo Protocol announced the launch of its governance token REZ on Solana using Wormhole’s Native Token Transfer (NTT) framework. Originally deployed on Ethereum, REZ will be transferred to Solana using Wormhole’s framework, with the multi-chain protocol’s Guardian network leveraging secure cross-chain proofs to ensure token transfers between Ethereum and Solana. REZ on Solana will maintain a 1:1 anchor with REZ on Ethereum, adhere to Solana’s token standards and be compatible with its DeFi ecosystem. The initial liquidity of REZ will be provided by Solana’s main automated market maker. According to the team, the token may be integrated with the Solana on-chain lending protocol, which means it may be used as collateral, and there will be liquidity incentives for the REZ/SOL and REZ/USDC pairs. In addition, Solana chain REZ will be distributed through community airdrops and liquidity incentive programs. (The Block)