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Ren (REN)

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Ren (REN) is a cryptocurrency made by Taiyang Zhang in 2018. It is an open protocol that provides access to inter-blockchain liquidity for all decentralized applications. 

The Ren protocol is working to do this by enabling the free movement and private transfer of value between all blockchains. In doing this, Ren hopes to create a private and interoperable world of decentralized finance. If successful, the project could unlock new liquidity and resources that are needed to power the open finance movement. Even more, Ren can potentially make all decentralized applications run in secret, preserving the privacy of all users and data.

Ren’s protocol is powered by the  trustless and decentralized Ren virtual machine (RenVM), which reportedly enables the transfer of any token between any blockchain while maintaining privacy. For many decentralized financial applications, interoperability and trustless privacy are fundamental pieces of the puzzle that are still missing. According to Ren’s website, the RenVM provides decentralized finance applications and existing smart contracts with the solution to these fundamental pieces. Any project or dapp that integrates with RenVM will purportedly benefit from cross-chain liquidity, interoperability, and privacy. 

The Ren token is an Ethereum based, ERC-20 utility token that provides liquidity to the Ren protocol via a proof-of-stake consensus algorithm. REN secures the network since it is required for staking by any person or entity who want to operate a Darknode. As for Ren (REN) tokens, the total supply is 1,000,000,000 REN, and the circulating supply 795,594,931 REN. The Ren project conducted a successful ICO in February 2018 where they raised $34.3 million and sold 60.2% (602 million) of the tokens.

DeFi in Review: Aave’s Migration, Synthetix ‘Coup d’Etat’, Ren Protocol’s M&A

12 Feb 2021 2 minute read 0 comments GetBlock

This week a red-hot segment of decentralized financial protocols (DeFis) crossed $40B in total value locked for the first time ever. Here is what happened in flagship DeFi ecosystems on the threshold of this milestone. While the cryptocurrencies indu...

Linkswap Integrates RenVM

9 Feb 2021 1 minute read 24 comments Ren Protocol

We are excited to announce that Linkswap has integrated RenVM via RenJS! With this integration, Linkswap (a decentralized exchange aka DEX) users can now easily convert, trade, and earn fees by providing liquidity with native Dogecoin ($DOGE) along w...

Ren Joins Alameda Ecosystem

3 Feb 2021 1 minute read 10 comments Abhimanyu Krishnan

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 i...

Ren Ecosystem Update

1 Feb 2021 2 minute read 2 comments Ren Protocol

Welcome to the first Ren Ecosystem Update of 2021! RenVM’s first month in 2021 is off to a good start, with over 2.3 billion in total volume to date. So without further ado, let’s dive in. RenVM to Utilize Asylo for Economic Scaling Over the last few...

Ren Brings Dogecoin to Ethereum

27 Jan 2021 1 minute read 5 comments Abhimanyu Krishnan

Ren and OpenDAO have revealed the next milestone in their partnership, bringing Dogecoin (DOGE) to Ethereum (ETH) via the synthetic asset renDOGE, according to an announcement made on Jan. 26. Users can now mint renDOGE with DOGE on OpenDAO’s Dapp a...

Top 5 Cryptocurrency Movers for December 28, 2020

28 Dec 2020 2 minute read 0 comments JakeB

Welcome to “Top 5 Cryptocurrency Movers” where I look at all the major crypto coins on the market and choose the five that made the biggest move (either positive or negative) on this day, explaining my thoughts why the move happened, as well as the h...

What is Ren ( REN )? What you need to know

28 Dec 2020 4 minute read 6 comments LiquidAttic

I wondered what REN and RenVM where. This is due to the anonymous transactions via a dark pool. So we will discuss why this brings privacy and DEFI together. You know that I am discussing many issues that have to do with privacy. I have opted express...

Equilibrium And Ren Have Partnered To Scratch Each Other’s Backs In DeFi

18 Dec 2020 1 minute read 2 comments Equilibrium

  Equilibrium and Ren are teaming up to mutually beneficial ends. Equilibrium will gain access to RenVM’s BTC bridge on Polkadot, and RenVM will see increased demand for its services as a fresh surge of users peg in and out of BTC. Bridges are import...

Codefi's DeFi Bridge Integrates RenVM, Filecoin First Supported Asset

2 Dec 2020 1 minute read 1 comment Abhimanyu Krishnan

According to an announcement made on Dec. 1, Codefi has integrated RenVM into its DeFi bridge, which connects assets to the Ethereum mainnet. The DeFi Bridge is a permissionless bridge for assets, to bring them onto Ethereum (ETH); Filecoin (FIL) is...

Why renBTC is such a Big Deal for Ethereum?

5 Nov 2020 4 minute read 8 comments DrBreakThru

On May 22, 2020, renBTC – a 1:1 ERC-20 token representation of Bitcoin (BTC) – went live on the Ethereum mainnet. Since its launch, the total number of renBTC that has been bridged from Bitcoin to Ethereum has experienced exponential growth. At the t...