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The total market capitalization of the cryptocurrency market has evaporated nearly $500 billion in less than a week.
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The Renzo community proposes to buy back and destroy 10% of the total supply of REZ tokens in the next 6 months.
PANews, October 11 news, according to official news, the Renzo community has released governance proposal RP6, which plans to use 10% of the total supply of REZ tokens for buybacks and burns from protocol revenue over the next 6 months. The plan has been initiated and completed its first buyback, using income from the third quarter of 2025 to burn a total of 1% / 2.3% of the circulating supply of tokens. After approval from Renzo governance, the initially purchased 1% REZ will be included in the plan metrics. Over the next 6 months, 75%-100% of the protocol's revenue will continue to be used for buybacks, with the goal of burning 9% of the total 10%, and 1% will be rewarded to ezREZ stakers. The proposal has now been announced in the governance forum and is awaiting community discussion.