The Renzo (REZ) community has published a new governance proposal (RP6) that calls for the buyback and burning of 10% of the total REZ token supply using protocol revenues. The plan will be phased in over the next six months. Under the RP6 proposal, 75% to 100% of Renzo protocol revenues will be allocated to buybacks. Of the targeted 10% supply reduction, 9% will be burned, with the remaining 1% distributed as rewards to users who stake ezREZ. The program has already begun. Renzo completed the first buyback and burn of 1% of the total supply, or approximately 2.3% of the circulating supply, with proceeds generated in the third quarter of 2025. This initial burn will also be included in the final target. Related News: Claiming to Have Predicted the Drop in Cryptocurrencies, il Capo Revealed What He Expects This Weekend and Next Week The proposal was published on the Renzo administration forum for community members to consider. At press time, REZ is trading at $0.01018, down 29.45%. The token is down 96.14% from its all-time high of $0.2638 on April 30, 2024. This development in REZ failed to bring about a recovery from the large decline experienced last night. *This is not investment advice. Continue Reading: Binance-Listed Altcoin Announces Major Token Burn Today: Price Recovery Still Not Seen
