Renzo's ezETH, a token designed to be pegged to Ethereum, experienced significant volatility, dropping as low as $700 and briefly depegging to 0.5 ETH, equivalent to $1600, reflecting an 18.3% depeg. This instability led to over $56 million in liquidations, affecting users engaged in leverage loop farming with ezETH. The token's price fluctuation was influenced by a large Ethereum whale who purchased 3915 ezETH. Concurrently, Renzo Protocol introduced new tokenomics and details for ezPoints claiming, with plans to distribute 500 million REZ tokens on May 2nd. Season 1 highlights included $3.5 billion in deposits and a 33.5% restaking market share.