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Renzo Protocol

avoid.net/renzo-protocol→28/100·72% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:zachxbt][code4rena][coindesk][cointelegraph][cryptoslate][dlnews][on_chain][protos][theblock]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·5ToXbf…dP7B

Summary

Renzo Protocol is an EigenLayer liquid restaking protocol that issues ezETH, a liquid restaking token (LRT) representing restaked ETH. In April 2024, ezETH suffered a severe depeg — falling from ~$3,100 to as low as $688 on Uniswap — triggered by a controversial REZ tokenomics announcement that allocated only 5% of tokens to the community airdrop while reserving over 60% for team, investors, and advisors, causing cascading liquidations exceeding $56 million across DeFi platforms. Eight high-severity vulnerabilities were identified in a concurrent Code4rena security audit, and the incident exposed structural risks including withdrawal restrictions that prevented users from redeeming ezETH directly for ETH.

Connected Entities

1 entities
Protocols
⌂Renzo Protocol
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    Have evidence about Renzo Protocol?

    Timeline(10 events)

    January 2023

    Renzo Protocol founded by Lucas Kozinski, James Poole, and Kratik Lodha as an EigenLayer liquid restaking protocol.

    IQ.wiki / Protagonist X

    23 April 2024

    Renzo publishes REZ tokenomics announcement disclosing 5% community airdrop allocation, 2.5% to Binance Launchpool. A reportedly not-to-scale pie chart obscures that over 60% of REZ goes to team, investors, and advisors. Community backlash begins immediately.

    The Block

    24 April 2024

    ezETH depegs sharply. Price falls from approximately $3,100 to a low of $688 on Uniswap — a 79% drop in under one hour. Cascading liquidations begin across Gearbox and Morpho protocols.

    DL News / CoinDesk / Protos

    24 April 2024

    Gearbox Protocol liquidates 115 Credit Accounts totaling approximately 10,650 ezETH (~$33 million). Morpho Protocol liquidates 146 users for approximately $23 million. Combined losses exceed $56 million across 250+ users.

    DL News / Protos / CryptoSlate

    28 April 2024

    Renzo increases Season 1 airdrop allocation from 5% to 7% following community outrage. Team also adjusts airdrop claim date to April 30, one hour before Binance listing.

    The Block / crypto.news

    30 April 2024

    REZ token launches on Binance. Binance Launchpool participants, who staked BNB or FDUSD from April 24–29, are able to sell REZ before Renzo Protocol's own Season 1 depositors can claim.

    Binance / The Block

    30 April 2024

    Code4rena competitive audit of Renzo Protocol begins (runs through May 8, 2024). Audit identifies 8 high-severity and 14 medium-severity vulnerabilities.

    Code4rena

    22 July 2024

    Renzo Protocol's official Discord server is compromised by scammers posting phishing links promising rewards.

    CryptoTimes

    5 November 2025

    Renzo executes first REZ token buyback-and-burn, destroying over 114 million tokens. Monthly burns confirmed as ongoing program.

    Renzo Governance Forum

    April 2026

    Founder Lucas Kozinski publishes 'Yield Orchestration Layer' vision for institutional capital deployment. Protocol TVL approximately $217 million, down significantly from $3B+ peak.

    CoinMarketCap AI / CryptoJournaal X
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:zachxbt

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event).

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 4:05:05 PM

    last updated: 5/26/2026, 4:11:17 AM

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