
REZ Token Launch
SummarySeason 1 ended April 26, 2024, with $3.5B in deposits, 250k+ users, and 33.5% restaking market share.REZ token launches April 30, 2024; 700M REZ (7% of supply) distributed based on ezPoints.Eligibility: Minimum 360 ezPoints; 99% of wallets fully unlocked; large wallets (500k+ points) have 3-month vesting.REZ Tokenomics: 10B total supplyCommunity: 32% (7% airdrop, 5% for Season 2)Fundraising: 31.56% (2-year vesting)Core Contributors: 20% (1-year cliff + 2-year vesting)Others: Foundation...

Renzo Riduzione: Renzo Completes the Inaugural Buyback and Burn Event, Aiming to Reduce Total Supply…
Renzo Protocol just completed the first buyback and burn event, we are calling Renzo Riduzione, buying back over 127,117,412 REZ from the open market using protocol revenue and then subsequently burning 90% or 114,405,671 REZ and rewarding ezREZ stakers the remaining 10%. This inaugural event permanently reduced 1.14% from REZ total supply, and much more to go.BackgroundRenzo Protocol just wrapped up one of its biggest community milestones yet. Governance proposals RP-6(A) and RP-6(B) officia...

Opolis Partners with Renzo to Launch Onchain “Restaking Bond” for Member Health-Insurance Pool
July 2025 – Employment-benefits platform Opolis today announced a strategic partnership with liquid restaking provider Renzo to secure its forthcoming health-insurance reserve with a fixed-term, onchain bond issued through Renzo’s Flow vault framework. The new Opolis Bond Vault will accept Agora’s USD-denominated stablecoin, AUSD, during a limited subscription window and lock the collateral for six months, satisfying the solvency and collateralization requirements that apply to licensed insur...

REZ Token Launch
SummarySeason 1 ended April 26, 2024, with $3.5B in deposits, 250k+ users, and 33.5% restaking market share.REZ token launches April 30, 2024; 700M REZ (7% of supply) distributed based on ezPoints.Eligibility: Minimum 360 ezPoints; 99% of wallets fully unlocked; large wallets (500k+ points) have 3-month vesting.REZ Tokenomics: 10B total supplyCommunity: 32% (7% airdrop, 5% for Season 2)Fundraising: 31.56% (2-year vesting)Core Contributors: 20% (1-year cliff + 2-year vesting)Others: Foundation...

Renzo Riduzione: Renzo Completes the Inaugural Buyback and Burn Event, Aiming to Reduce Total Supply…
Renzo Protocol just completed the first buyback and burn event, we are calling Renzo Riduzione, buying back over 127,117,412 REZ from the open market using protocol revenue and then subsequently burning 90% or 114,405,671 REZ and rewarding ezREZ stakers the remaining 10%. This inaugural event permanently reduced 1.14% from REZ total supply, and much more to go.BackgroundRenzo Protocol just wrapped up one of its biggest community milestones yet. Governance proposals RP-6(A) and RP-6(B) officia...

Opolis Partners with Renzo to Launch Onchain “Restaking Bond” for Member Health-Insurance Pool
July 2025 – Employment-benefits platform Opolis today announced a strategic partnership with liquid restaking provider Renzo to secure its forthcoming health-insurance reserve with a fixed-term, onchain bond issued through Renzo’s Flow vault framework. The new Opolis Bond Vault will accept Agora’s USD-denominated stablecoin, AUSD, during a limited subscription window and lock the collateral for six months, satisfying the solvency and collateralization requirements that apply to licensed insur...

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Distributing liquid restaking rewards matters for user experience, DeFi composability, operational cost, and, potentially, tax treatment. The following piece explores four practical approaches to distribution.
Auto-compound
The simplest choice for users is to sweep every NCN reward into the underlying collateral backing the LRT. For ezSOL, an LRT entirely backed by jitoSOL, this means selling token rewards for SOL, and then redepositing this SOL into the ezSOL vault as jitoSOL. This way, users who hold ezSOL benefit from a slowly increasing exchange rate without needing to do anything.
This means no additional tokens cluttering wallets or DeFi positions, and no additional actions needed on the user’s part to earn rewards. ezSOL stays a single, composable asset, so it fits cleanly inside LP pools and throughout DeFi. US guidance (see https://x.com/jito_sol/status/1925538608938615294) also suggests that value accrued inside an LST isn’t taxed until you actually sell it or withdraw, however you should double check before filing.
On the other hand, NCNs may not like this method of rewards distribution as it puts sell pressure on the issued rewards token, and it may dampen the marketing effect of distributing rewards to users.
Index and distribute
To avoid automatically swapping reward tokens for the underlying collateral, we can simply index every ezSOL / bzSOL holder at a chosen slot and distribute NCN rewards pro-rata. Renzo already does this across EigenLayer and Symbiotic and over a hundred integrations, so the tooling is battle-tested.
This means NCNs can ship one lump-sum transfer, with Renzo’s indexer doing the distribution. The reward tokens land in each user’s wallet, maximizing distribution.
The downside of this approach is that recipients inherit the hassle of custody, trading, and managing rewards tokens. Thousands of micro-transfers chew through Solana priority fees, and for users who hold smaller positions, this may lead to them accruing “dust” rewards in many different tokens that aren’t worth the effort of selling or using.
Opt-in staking vaults and risk tranching
A middle ground is to let passive holders keep ezSOL untouched while power users lock it into a secondary vault that soaks up a larger share of rewards, and the first slice of any slashing losses. Think of it as senior and junior tranches, but onchain.
This benefits traders who want extra yield and are willing to self-select into taking on additional risk. It also benefits users who’d prefer a safer asset with slightly lower rewards.
The negative is that this type of tranching effectively creates a new token which competes for liquidity across Solana DeFi. The extra step to stake and unstake also adds friction which most retail users ignore.
Token-2022 (and its limits)
Solana’s Token-2022 Program can append transfer hooks and historical balance tracking. In theory, this allows Renzo to ship rewards automatically without snapshots or wrappers. In practice, LP pools hold tokens, and the pool contract, not the end user, shows up as the owner. The fix is to add another wrapper layer which shares the same downsides as the staking vault. For now, we are watching the Token-2022 ecosystem mature before committing to an immutable change.
Today, Renzo’s ezSOL, bzSOL, and ezJTO are live with auto-compounding because it does the most good for the most people: zero clicks, no extra tokens, DeFi composability, and a potential tax deferral benefit. In parallel, we’ve built the indexer and we’ll keep it ready to go: when an NCN prefers direct user distributions, we can accommodate.
Renzo brings unparalleled experience to the Solana restaking ecosystem, having been active in restaking for 18+ months and delegating security to 35+ networks. If you’re an NCN looking for delegated security, reach out to me @dogwifbucket on X.
Restake with Renzo.
Distributing liquid restaking rewards matters for user experience, DeFi composability, operational cost, and, potentially, tax treatment. The following piece explores four practical approaches to distribution.
Auto-compound
The simplest choice for users is to sweep every NCN reward into the underlying collateral backing the LRT. For ezSOL, an LRT entirely backed by jitoSOL, this means selling token rewards for SOL, and then redepositing this SOL into the ezSOL vault as jitoSOL. This way, users who hold ezSOL benefit from a slowly increasing exchange rate without needing to do anything.
This means no additional tokens cluttering wallets or DeFi positions, and no additional actions needed on the user’s part to earn rewards. ezSOL stays a single, composable asset, so it fits cleanly inside LP pools and throughout DeFi. US guidance (see https://x.com/jito_sol/status/1925538608938615294) also suggests that value accrued inside an LST isn’t taxed until you actually sell it or withdraw, however you should double check before filing.
On the other hand, NCNs may not like this method of rewards distribution as it puts sell pressure on the issued rewards token, and it may dampen the marketing effect of distributing rewards to users.
Index and distribute
To avoid automatically swapping reward tokens for the underlying collateral, we can simply index every ezSOL / bzSOL holder at a chosen slot and distribute NCN rewards pro-rata. Renzo already does this across EigenLayer and Symbiotic and over a hundred integrations, so the tooling is battle-tested.
This means NCNs can ship one lump-sum transfer, with Renzo’s indexer doing the distribution. The reward tokens land in each user’s wallet, maximizing distribution.
The downside of this approach is that recipients inherit the hassle of custody, trading, and managing rewards tokens. Thousands of micro-transfers chew through Solana priority fees, and for users who hold smaller positions, this may lead to them accruing “dust” rewards in many different tokens that aren’t worth the effort of selling or using.
Opt-in staking vaults and risk tranching
A middle ground is to let passive holders keep ezSOL untouched while power users lock it into a secondary vault that soaks up a larger share of rewards, and the first slice of any slashing losses. Think of it as senior and junior tranches, but onchain.
This benefits traders who want extra yield and are willing to self-select into taking on additional risk. It also benefits users who’d prefer a safer asset with slightly lower rewards.
The negative is that this type of tranching effectively creates a new token which competes for liquidity across Solana DeFi. The extra step to stake and unstake also adds friction which most retail users ignore.
Token-2022 (and its limits)
Solana’s Token-2022 Program can append transfer hooks and historical balance tracking. In theory, this allows Renzo to ship rewards automatically without snapshots or wrappers. In practice, LP pools hold tokens, and the pool contract, not the end user, shows up as the owner. The fix is to add another wrapper layer which shares the same downsides as the staking vault. For now, we are watching the Token-2022 ecosystem mature before committing to an immutable change.
Today, Renzo’s ezSOL, bzSOL, and ezJTO are live with auto-compounding because it does the most good for the most people: zero clicks, no extra tokens, DeFi composability, and a potential tax deferral benefit. In parallel, we’ve built the indexer and we’ll keep it ready to go: when an NCN prefers direct user distributions, we can accommodate.
Renzo brings unparalleled experience to the Solana restaking ecosystem, having been active in restaking for 18+ months and delegating security to 35+ networks. If you’re an NCN looking for delegated security, reach out to me @dogwifbucket on X.
Restake with Renzo.
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