The Ren (REN) project has joined the Alameda Research ecosystem to bring interoperability solutions to the Solana blockchain, according to a blog post published on Feb. 2.
- Ren’s role in the collaboration will be to support the Solana blockchain in its multi-chain libraries and RenVM
- The team expects to finish the bridge with Solana in Q2 2021
- The Solana support and Serum DEX integration, in turn, will bring volume, users, and increased fee revenue to the Ren network
- Additionally, Alameda will assist in the development of Greycore, Ren’s decentralization initiative
- Alameda Research is a quantitative research crypto firm and liquidity provider that backs Solana and has its own Serum DEX; the company is led by FTX CEO Sam Bankman-Fried
- RenVM acts as a “trustless custodian” to help move assets between different chains; it has successfully done this to bring Dogecoin to Ethereum, besides bringing over 15,000 BTC to Ethereum