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REN, formerly known as Republic Protocol, is an open protocol that aims to enable the permissionless and private transfer of value between any blockchain. Its primary goal is to provide interoperability and liquidity between different blockchain platforms. The protocol's native token, REN, is used as a bond by those running nodes, known as Darknodes, which power the Ren Virtual Machine (RenVM).
REN was founded by Taiyang Zhang in 2017. Zhang, who also co-founded crypto hedge fund Virgil Capital, initially announced REN as a "decentralized dark pool". Jaz Gulati, another co-founder of Neucode, a software and web development startup, now works as a software developer for REN.
REN has a fixed supply cap of 1 billion tokens. During its presale and public token sale in 2018, 60.2% of the supply was sold to investors. The rest of the tokens are allocated to a reserve fund, advisors, the team, and its founders, and for activities such as partnerships and development.
REN is a freely-tradable token and is available on various major exchanges. Some of the most popular platforms for buying REN include Binance and Huobi Global. These platforms offer trading pairs with cryptocurrencies, fiat currencies, and stablecoins.
REN is primarily used to power the RenVM, which is a network of virtual computers that make up a virtual machine. The RenVM allows users to swap any token between any two blockchains without middle steps, such as using "wrapped" versions of tokens. This makes it easier for DeFi projects to bring foreign cryptocurrency assets, like Bitcoin and Zcash, to their offerings.
REN has been making significant strides in the crypto space. Its RenVM mainnet was launched in May 2020, following a successful $34 million initial coin offering (ICO) in 2018. The network is currently in phase sub-zero in its pathway to decentralization. REN also charges various fees for internal operations, but most of these do not go towards direct profitability, instead being paid to miners. As an ERC-20 token, REN also attracts varying gas fees to power transactions.
Recent news about REN reveals significant technological developments. The Ren project has launched RenVM, a protocol that enables the movement of value between different blockchains. This has led to a surge in the total value of digital assets minted on Ethereum by RenVM. The project also introduced RenBridge 2, which has been integrated with the Binance Smart Chain, leading to a significant increase in REN's trading volume.
REN news today includes important updates about the network. The Ren 1.0 network is being replaced by a fully community-controlled network, Ren 2.0. This transition has started with the disabling of mints, while burns will remain enabled until mid-December. Users who hold renZEC are advised to bridge these back to native ZEC as soon as possible.
REN has been making strategic partnerships and listings. It has partnered with Aztec to bring renBTC to zk.money, allowing users to hold and send renBTC privately. REN was also listed on the cryptocurrency exchange platform Resfinex, and it has added Solana and Fantom to its ecosystem. These developments have had a positive impact on the REN price.
Looking at the recent news about REN, the project has ambitious plans for the future. It is working on designing the future of the Ren protocol and is planning to launch Ren 2.0 by the end of Q4. The project is also working on a supply-side mechanism that enables and incentivizes more token holders to contribute security in a frictionless and decentralized way. If you're wondering where to buy REN, it's available on major cryptocurrency exchanges like Resfinex.
Headlines are updated in real time. Click on a headline to the left to read the news.
REN, formerly known as Republic Protocol, is an open protocol that aims to enable the permissionless and private transfer of value between any blockchain. Its primary goal is to provide interoperability and liquidity between different blockchain platforms. The protocol's native token, REN, is used as a bond by those running nodes, known as Darknodes, which power the Ren Virtual Machine (RenVM).
REN was founded by Taiyang Zhang in 2017. Zhang, who also co-founded crypto hedge fund Virgil Capital, initially announced REN as a "decentralized dark pool". Jaz Gulati, another co-founder of Neucode, a software and web development startup, now works as a software developer for REN.
REN has a fixed supply cap of 1 billion tokens. During its presale and public token sale in 2018, 60.2% of the supply was sold to investors. The rest of the tokens are allocated to a reserve fund, advisors, the team, and its founders, and for activities such as partnerships and development.
REN is a freely-tradable token and is available on various major exchanges. Some of the most popular platforms for buying REN include Binance and Huobi Global. These platforms offer trading pairs with cryptocurrencies, fiat currencies, and stablecoins.
REN is primarily used to power the RenVM, which is a network of virtual computers that make up a virtual machine. The RenVM allows users to swap any token between any two blockchains without middle steps, such as using "wrapped" versions of tokens. This makes it easier for DeFi projects to bring foreign cryptocurrency assets, like Bitcoin and Zcash, to their offerings.
REN has been making significant strides in the crypto space. Its RenVM mainnet was launched in May 2020, following a successful $34 million initial coin offering (ICO) in 2018. The network is currently in phase sub-zero in its pathway to decentralization. REN also charges various fees for internal operations, but most of these do not go towards direct profitability, instead being paid to miners. As an ERC-20 token, REN also attracts varying gas fees to power transactions.
Recent news about REN reveals significant technological developments. The Ren project has launched RenVM, a protocol that enables the movement of value between different blockchains. This has led to a surge in the total value of digital assets minted on Ethereum by RenVM. The project also introduced RenBridge 2, which has been integrated with the Binance Smart Chain, leading to a significant increase in REN's trading volume.
REN news today includes important updates about the network. The Ren 1.0 network is being replaced by a fully community-controlled network, Ren 2.0. This transition has started with the disabling of mints, while burns will remain enabled until mid-December. Users who hold renZEC are advised to bridge these back to native ZEC as soon as possible.
REN has been making strategic partnerships and listings. It has partnered with Aztec to bring renBTC to zk.money, allowing users to hold and send renBTC privately. REN was also listed on the cryptocurrency exchange platform Resfinex, and it has added Solana and Fantom to its ecosystem. These developments have had a positive impact on the REN price.
Looking at the recent news about REN, the project has ambitious plans for the future. It is working on designing the future of the Ren protocol and is planning to launch Ren 2.0 by the end of Q4. The project is also working on a supply-side mechanism that enables and incentivizes more token holders to contribute security in a frictionless and decentralized way. If you're wondering where to buy REN, it's available on major cryptocurrency exchanges like Resfinex.