Renzo Protocol Faces Backlash for Misleading 95% Token Allocation to Team, Deletes Tweet Post-TGE

Renzo Protocol faced criticism for its token distribution strategy, where 95% of the tokens were allocated to the team and investors, leaving minimal amounts for users. The controversy escalated when it was revealed that the company manipulated a pie chart to exaggerate the community's share, making it appear ten times larger than it actually was, and deleted the misleading tweet after backlash. Despite attempts to rectify the chart post-Token Generation Event (TGE), subsequent revisions remained inaccurate, leading to further scrutiny and negative feedback from the cryptocurrency community.