Renzo, the liquid restaking platform, has responded to community dissatisfaction by adjusting its airdrop allocation slightly. The allocation for the first season has been increased from 5% to 7% of its tokens. This adjustment aims to address concerns raised by users regarding the platform's tokenomics details.

Of the total 10 billion token supply, 7% will be distributed in the first phase, scheduled to commence at the end of the month, with the remaining 5% allocated in the subsequent phase.

Renzo has rescheduled the claim date for the first airdrop to April 30, strategically timed an hour before the protocol's listing on the Binance exchange, deviating from the previously outlined schedule.

Under the revised criteria, participants with at least 360 Renzo points are eligible for the airdrop, which they can claim at the token generation event proportionally based on their points tally.

Previously, the top 5% of eligible wallets had half of their airdrop vested over the next six months. However, in the updated plan, 99% of all eligible wallets will be fully unlocked at launch.

These adjustments follow a temporary depegging of Renzo-restaked ether (ezETH) from the price of ether, resulting in a loss of up to 18% of its parity with ETH. Although the token has partially recovered since then, it still trades at a 2% discount.

The initial tokenomics presentation, including a pie chart, triggered frustration within the user community. Additionally, Renzo disqualified airdrop farmers who engaged in 'looping,' a leverage strategy involving selling ezETH for ETH and then redepositing it into the protocol to accrue more rewards. This activity led to large sell-offs of ezETH, exacerbated by thin on-chain liquidity, resulting in a significant decline in token value and over $50 million in losses for leveraged ezETH positions.

As of now, the token price is approaching its parity with ETH, trading at $3,053, according to The Block's price page.

Renzo secured $3.2 million in a seed funding round in January and currently boasts over 1 million ether ($3 billion) locked in the protocol, establishing itself as the second-largest liquid restaking platform.