RENZO BULLISH MOMENTUM!!!I want to highlight a significant development in the Ethereum ecosystem: the upcoming launch of the EigenLayer token. EigenLayer enables Ethereum stakers to rehypothecate their positions, using the same ETH collateral to secure other networks. The distribution of these tokens is based on participation in restaking, with the protocol gradually onboarding new networks.
This opens opportunities for solutions targeting smaller investors who can’t run validator nodes (which require 32 ETH and specialized hardware) and prefer liquidity. Liquid restaked Ethereum tokens have emerged, with Renzo’s ezETH being a notable example. Renzo allows users to restake ETH and receive ezETH tokens, which can be used across DeFi applications for lending, collateralizing, or providing liquidity.
Renzo’s governance token, REZ, has shown promising growth potential. Holding and staking REZ may yield future dividends and bonuses for farming subsequent airdrop seasons. Accumulating points through holding ezETH determines your share of future EIGEN and REZ distributions.
EIGEN could mirror the success of Lido’s governance tokens, which saw substantial appreciation. With Ethereum potentially outperforming Bitcoin due to ETF flows, investing in farming EIGEN and REZ while riding ETH’s trend appears advantageous.
To participate, you need familiarity with hardware wallets, browser extension wallets (like MetaMask or Rabby Wallet), and decentralized apps. Renzo operates on layer 2 networks, offering significant fee reductions compared to Ethereum’s layer 1.
Steps to get started:
1. **Acquire ETH**: Purchase ETH from an exchange and withdraw it to your Arbitrum network ETH address.
2. **Restake ETH**: Visit (app.renzoprotocol.com/restake). Connect your wallet, select the Arbitrum network, and restake your ETH to receive ezETH.
3. **Track Balances**: Use a dashboard app like (debank.com/profile) to monitor your holdings.
This is the beginning. Familiarize yourself with these processes to maximize yield from potential airdrops and asset appreciation. We’re looking at substantial gains on top of an appreciating asset.
We are looking at a possible extra yield from airdrops which can be substantial (maybe 2-3x gains) on top of an asset that can go up 3 to 10x from here!
