Renzo Finance (REZ) Price

REZ is Renzo's native governance token, used to enable holders and their delegates to participate in protocol governance and influence protocol changes. It is not Renzo's liquid restaking receipt; holding REZ itself does not mean holding a restaking position such as ezETH, nor should it be confused with ezREZ formed after restaking REZ.

REZ's principal disclosed use is voting on Renzo governance proposals. Governance can decide matters with material effects on protocol operations, including the overall risk-management framework, acceptable deposited and collateral assets and their concentration, operator and AVS allowlists, and the treasury and community grants. These matters affect which assets and services the protocol can accept, who provides related services, and how resources are used; however, governance rights are not equivalent to protocol revenue, fixed income, or redemption rights. Whether a specific governance outcome can be achieved depends on the proposals and voting rules applicable at that time.

Renzo governance involves REZ holders and delegates: community members can discuss proposals, vote, and implement changes after approval. During the initial governance phase, on-chain proposals may be created and submitted only by allowlisted wallets, and proposals must follow the governance guidelines in effect at that time; official materials also state that the goal in later phases is to allow any REZ community member to submit proposals. Therefore, holding REZ and being able to directly initiate an on-chain proposal are two different levels of participation: the former places a user within the scope of governance participants, while the latter remains subject to allowlist conditions in the initial phase. Governance rules themselves may be adjusted by governance, so the formal rules in effect at the time should be followed before participating.

REZ has a total supply of 10 billion tokens. The official allocation is: funding 31.56%, community 32%, core contributors 20%, foundation 12.44%, Binance Launch Pool 2.5%, and liquidity 1.5%. These percentages correspond to the established total supply, rather than the amount available for trading at any particular time. The community allocation supports ecosystem growth, with the initial 7% related to distribution for ezPoints Season 1 users; the foundation allocation supports matters such as development, risk assessment, and audits. Allocation vesting, the end of lockups, and actual entry into tradable markets are separate stages, so total supply or an individual allocation percentage should not be treated directly as circulating supply.

The funding allocation has a total two-year lockup period: it first undergoes a one-year cliff, during which no tokens are released under this arrangement; at the end of one year, 10% of the allocation unlocks, and the remainder unlocks linearly each month over the following year. The core contributor allocation also has a one-year cliff, but after the cliff it unlocks linearly each month over two years, and no core contributor tokens unlock before the one-year cliff. An unlock schedule determines when a specific allocation is released from lockup; it does not guarantee that these tokens will be sold immediately or all become market trading volume. It changes when tokens in that category may be transferred or traded; its actual effect on tradable supply and market trading also depends on holder behavior, custody status, and market liquidity.