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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.
video credit: crypto memes REN DeFi is just sleeping giant in the DeFi market and it can be explode at anytime .there are many recent updates we can see in the market through various source of media and it clearly indicates that the time is come t...
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The Aave team has been hard at work to provide new features and assets in the protocol for the Aave Fam! As always, synergies within the ecosystem and brand new functionalities are on the menu this week. We’re happy to introduce new risk parameter...
On July 17, DeFi lending and borrowing platform Aave (LEND) announced several new changes to its platform, including listing the Enjin (ENJ) and Ren (REN) assets. In addition, it has introduced fiat onramps and updates to its risk parameters. The a...
This post is another entry in our regular series in which we fill you in twice a month on all the front-end updates we’ve made across our dApps and website. Stay tuned for more updates! COMP, LEND, KNC, and REN are now available as binary options...
The Ren and Loopring teams are excited to announce that the renBTC asset is now listed on Loopring.io, Ethereum’s zkRollup Exchange, trading against USDT. Further, this renBTC-USDT pair is being launched with a liquidity mining incentive campaign!...
We are excited to announce REN and renBTC as Bancor V2 launch pools. The two new Bancor V2 pools will allow both REN and renBTC holders to provide liquidity and earn a share of trading fees while maintaining 100% exposure to either token. While exi...
Hey guys :) I’m back with another comprehensive Q&A piece, this time for the innovative blockchain interoperability project – Ren (REN). Ren is an open blockchain protocol that enables the permissionless and private transfer of value between any bloc...
This post was originally published on Monethical.com In this post, we give a picture of the crypto trend and momentum setting for the coins that we usually cover in our Weekly Reports. First, we provide a recap table for crypto trend and momentum v...
