Renzo Depeg (2024) event
Overview
EzETH, the liquid restaking token from Renzo Protocol, temporarily fell to about $688 on Uniswap on April 24, 2024, as it decoupled from ether's value before rebounding. The incident occurred after Renzo closed its season 1 airdrop window and unveiled a contentious REZ tokenomics plan, leading large holders to offload ezETH; since immediate redemptions were unavailable, sellers relied on secondary markets. The drop caused leveraged positions on Gearbox and Morpho to be liquidated in a cascade. Market observers later pointed to the event as a prominent illustration of the liquidity and oracle vulnerabilities inherent to restaking and LRT protocols.
Within The Counterparty graph, Renzo Depeg (2024) connects to 1 tracked entity, most strongly to Renzo Protocol.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 1 of 1 total).
| Relation | Connected entity | Confidence |
|---|---|---|
triggered_by | Renzo Protocol | 90% |
Frequently asked questions
What is Renzo Depeg (2024)?
Renzo Depeg (2024) is an event tracked in The Counterparty knowledge graph. It is connected to 1 other tracked entity, most strongly to Renzo Protocol.
What type of entity is Renzo Depeg (2024)?
Renzo Depeg (2024) is classified as an event (event) in The Counterparty knowledge graph.
What is Renzo Depeg (2024) connected to?
In The Counterparty knowledge graph, Renzo Depeg (2024) is linked to 1 other tracked entity, most strongly to Renzo Protocol.
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.