Renzo Protocol 的 EZETH 代币脱钩，引发对流动性重新抵押协议的担忧

4 月 24 日，Renzo Protocol 的 EZETH 代币经历了价格脱钩，由于第一季空投结束后更广泛的市场抛售，Uniswap 上的 EZETH 代币短暂暴跌至 688 美元，导致杠杆平台上出现广泛清算，并凸显了与流动性重新抵押代币。

Renzo Protocol's EZETH Token Experiences Depeg, Raising Concerns about Liquid Restaking Protocols

Renzo Protocol 的 EZETH 代币经历 Depeg，引发对 Liquid Restake 协议的担忧

April 26, 2023

2023 年 4 月 26 日

On April 24, Renzo Protocol's EZETH token, a liquid restaked Ethereum token, experienced a significant price depeg, briefly falling to $688 on the decentralized exchange Uniswap before stabilizing at its parity with Ether (ETH).

4 月 24 日，Renzo Protocol 的 EZETH 代币（一种流动性重新抵押的以太坊代币）经历了大幅价格脱钩，在去中心化交易所 Uniswap 上短暂跌至 688 美元，然后稳定在与以太坊 (ETH) 的平价。

The incident was reportedly triggered by a broader market sell-off following the conclusion of Renzo Protocol's season 1 airdrop, where 10% of the token allocation was distributed to participants. According to crypto analyst Tommy, "The sell-off was likely caused by users wanting to get back their ETH to participate in other liquid restaking tokens (LRTs) and protocols."

据报道，该事件是由 Renzo Protocol 第一季空投结束后更广泛的市场抛售引发的，其中 10% 的代币分配给了参与者。加密货币分析师 Tommy 表示，“抛售很可能是由于用户希望拿回 ETH 来参与其他流动性重新抵押代币 (LRT) 和协议而引起的。”

Renzo Protocol is the second-largest liquid restaking protocol with a total value locked (TVL) exceeding $3.3 billion, marking a 126% increase over the past month. However, the EZETH depegging event highlighted a recurring challenge for LRTs.

Renzo Protocol 是第二大流动性再抵押协议，锁定总价值 (TVL) 超过 33 亿美元，较过去一个月增长 126%。然而，EZETH 脱钩事件凸显了轻轨系统反复出现的挑战。

"The depeg is a risk that we need to be aware of for all LRTs," said Tommy. "Even if withdrawals are enabled, the DEX pool can still become imbalanced and depeg temporarily."

“脱钩是我们所有轻轨都需要意识到的风险，”汤米说。 “即使启用提现，DEX 池仍然可能会变得不平衡并暂时脱钩。”

The depegging event triggered widespread liquidations on leveraged platforms such as Gearbox and Morpho Labs, particularly affecting users known as "loopers." Loopers leverage LRTs repeatedly as collateral to borrow ETH, exposing themselves to increased risk in the event of a depeg.

此次脱钩事件引发了 Gearbox 和 Morpho Labs 等杠杆平台的大范围清算，尤其影响到了被称为“loopers”的用户。 Loopers 反复利用 LRT 作为抵押品来借入 ETH，一旦脱钩，他们将面临更大的风险。

Renzo Protocol gained notable attention recently following the addition of its incoming token (REZ) to the Binance launch pool on April 23 and the announcement of a forthcoming airdrop.

Renzo Protocol 在 4 月 23 日将其传入代币（REZ）添加到币安发行池并宣布即将进行空投后，最近引起了广泛关注。

In the wake of the depegging incident, crypto trader czsamsunsb.eth managed to capitalize on the market volatility, earning 121.65 ETH (approximately $396,000) within two hours.

脱钩事件发生后，加密货币交易商 czsamsunsb.eth 成功利用市场波动，在两小时内赚取了 121.65 ETH（约合 396,000 美元）。

"czsamsunsb.eth made 121.65 ETH in just 2 hours after the EZETH depeg," revealed on-chain intelligence firm Lookonchain. "They spent 4,099 ETH to successfully buy 4,221 EZETH."

链上情报公司 Lookonchain 透露，“EZETH 脱钩后，czsamsunsb.eth 在短短 2 小时内赚了 121.65 ETH”。 “他们花了 4,099 ETH 成功购买了 4,221 EZETH。”

The depeg event has raised concerns about the stability and risk associated with liquid restaking tokens. As the LRT market continues to grow, analysts recommend that users carefully consider the potential risks before participating in such protocols.

脱钩事件引发了人们对流动性重新抵押代币相关稳定性和风险的担忧。随着轻轨市场的不断增长，分析师建议用户在参与此类协议之前仔细考虑潜在风险。

Additional Notes:

补充笔记：

• The Renzo Protocol team has implemented a temporary rebasing mechanism to help stabilize the EZETH price.
• The liquid restaking market is still in its early stages of development.
• Investors should conduct thorough research and due diligence before investing in any cryptocurrency or protocol.

Renzo Protocol 团队实施了临时重新抵押机制，以帮助稳定 EZETH 价格。流动性重新抵押市场仍处于发展的早期阶段。投资者在投资任何加密货币或协议之前应进行彻底的研究和尽职调查。