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How To Buy Renzo (REZ) In India? [2024]

By May 7, 20243 minute read

Renzo serves as both a Liquid Restaking Token (LRT) and Strategy Manager within EigenLayer, facilitating access to the ecosystem and enhancing security for Actively Validated Services (AVSs) with superior yield compared to ETH staking.

Renzo functions as a protocol that simplifies staking complexities for users, fostering seamless collaboration with EigenLayer node operators and Validated Services (AVSs).

REZ is the native utility and governance token within the Renzo protocol. Its primary function is to enable holders to vote on governance proposals, which encompass key measures essential for the protocol’s operations.

Utility of Renzo (REZ)

REZ, the protocol’s native governance token, empowers holders to vote on various governance proposals. These proposals encompass areas such as:

  • Operator whitelisting,
  • Actively Validated Services (AVSs) whitelisting,
  • Risk management frameworks,
  • Community and treasury grants, as well as
  • Concentration amounts, collateral assets, and deposits, etc.

Renzo (REZ) Tokenomics

The total REZ token supply amounts to 10,000,000,000.

The initial circulating supply will be 1,150,000,000 REZ (as of May 06).

Token Distribution

  • Fundraising: 31.56%
  • Community: 32%
  • Core Contributors: 20%
  • Foundation: 12.44%
  • Binance Launchpool: 2.5%
  • Liquidity: 1.5%

Buying Renzo (REZ) in India

Below are a few simple steps you can follow and buy the REZ tokens in India with WazirX, India’s most trusted and widely used crypto exchange.

The best way to buy REZ tokens is by depositing INR in your WazirX wallet. Alternatively, you can also buy REZ using P2P trade; to get answers to all your queries related to the P2P trade, click here!

Step 1 – Sign-Up on the WazirX platform

To begin buying and selling REZ, you must sign up for an account on the WazirX platform. If you already have an account, you can log in directly.

For your reference, here’s how you can open an account on WazirX.

Step 2 – Set up your account security by verifying your email address.

This step is about verifying your email address. After you sign up on the WazirX platform, you’ll get a verification link on your registered email. By clicking on that link, you’ll get two options to ensure the security of your account – the authenticator app and mobile SMS.

Note: The authenticator app is a more secure way to stay safe when compared to mobile SMS because there’s a risk of delayed reception or SIM card hacking.

Step 3 – Complete the KYC process.

After choosing your country, you can proceed with completing the KYC process. Click here for a detailed overview.

Note: You must complete your KYC to be able to trade P2P or withdraw funds on the WazirX app.

Step 4 – Add funds to your WazirX wallet.

To add funds, simply go to your account on the WazirX app or web. Click on “Funds” and then on “Deposit INR.”

You can deposit INR using any mode (NEFT/ RTGS/ IMPS).

You can also buy REZ through P2P to the WazirX wallet. The REZ will act as funds to help you buy your favorite cryptos.

Step 5 – Finally, buy REZ on WazirX.

You can now easily purchase REZ tokens using INR Deposits. In the case of P2P trade, check REZ to USDT here.

After logging in to your WazirX account, you can choose INR from the “Exchange” tab. You can also check all the price charts, order book data, and an order input form on the right side of the screen.

Click “Buy” after entering the amount and checking the total INR amount to be paid.

Your order will be placed according to the price you have input. And, in the case of P2P trade, a seller willing to sell at a price will be notified, and then you can exchange the tokens using P2P.

The order might take a few minutes to complete, but as soon as it is executed, you will receive the REZ Tokens you purchased in your WazirX wallet.

Happy Trading!

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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