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South Korea-based cryptocurrency exchange Upbit has announced it will offer new trading support for Renzo (REZ). According to the announcement, REZ will be listed in the $USDT trading pair, and transactions will be conducted via the Ethereum network.
Upbit announced that REZ deposit and withdrawal operations are planned to open within 1 hour and 15 minutes of the announcement’s publication. Trading on the REZ/$USDT pair is expected to begin on September 10th at 3:00 PM. The exchange warned users that the start time of trading may be delayed if sufficient liquidity levels are not reached.
With the start of trading, some temporary restrictions will be implemented. Accordingly, buy orders will be limited for approximately 5 minutes. During the same period, sell orders placed at 10 percent or more of the previous closing price will also be restricted. In addition, order types other than limit orders, such as market orders, will not be supported for approximately 2 hours after the start of trading.
Upbit stated that users can only deposit and withdraw REZ via the Ethereum network. It was also emphasized that the corresponding smart contract address must be checked for the REZ supported on the exchange.
Renzo operates as an on-chain asset management protocol aimed at allowing users to benefit from staking and restaking returns while maintaining the liquidity of their assets. The protocol offers various staking and restaking products, including EigenLayer-based ezETH. REZ is used for participation in protocol governance and restaking processes.
*This is not investment advice.