Cross blockchain decentralized finance protocol Ren introduces new consortium

By March 2, 2020Ethereum
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Cross blockchain decentralized finance protocol Ren introduces new consortium
Published by CryptoNinjas.net March 2, 2020

Ren, an open protocol that enables the permissionless and private transfer of value between any blockchain, which is slowly building up its mainnet launch, today introduced the Ren Alliance.

The Ren Alliance is a consortium of DeFi companies and/or projects that are helping secure, develop, and utilize RenVM. Bringing cross-chain assets to Ethereum will expand the utility of DeFi by introducing larger collateral types into the ecosystem. By joining the Ren Alliance, the aim is to bolster this utility by ensuring RenVM is a robust and permissionless tool for all of DeFi.

Three Aspects of the Ren Alliance

1) Utility – Integrating RenVM or adding renBTC, renZEC, etc.

The premise is simple, if you’d like to bring cross-chain assets to your DeFi app then this area of involvement is for you. Whether it’s using GatewayJS or RenJS to provide a native cross-chain UX to your dApp/wallet, or just adding RenVM’s cross-chain ERC-20s to your platform.

The first cohort of utility members: Aave, AirSwap, Authereum, Bit Team, bZx Protocol, Curve Finance, dDAi, DeFiZap, DexWallet, Flare Wallet, Fortmatic, Futureswap, iearn.finance, Incognito, Matic Network, Mosendo, PieDAO, Roundabout, Soda.network, Totle, YOLORekt.

2) Security – Increasing RenVM security via Darknodes

By running a Darknode(s) in the semi-decentralized core, your team is helping guarantee RenVM’s safety while it’s being bootstrapped during the Mainnet SubZero phase. Setting up a Darknode is easy and takes about 15 minutes to install. If you would like more info on the semi-decentralized core or what it takes to run a Darknode, let Ren know here.

The first cohort of security members: Curve Finance, Kyber, Polychain Capital, Synapse Capital, Totle.

3) Development – Helping develop RenVM

If you’d like to help educate the public or develop ancillary services to make RenVM a better product then this is the category of involvement best suited for you. Expanding DeFi’s utility is a team effort, so we welcome any contributions. Further, we’ll provide support to integrate RenVM stats into your product’s dashboard, explorer, and other UIs.

The first cohort of development members: 0Confirmation, AirSwap, BlockDevs Asia, Blocklytics, Blockpool, Coinspect, Crypkit, Defi Prime, DeFi Watch, Dexlab, Dune Analytics, Fortmatic, Insula Investments, Labrys, Portal.network.

Joining the Ren Alliance

To join, the Ren team asks to just fill out this application. It takes about five minutes, and all that is needed is a company logo and preferred area(s) of involvement. Joining the Alliance requires no binding commitments, only a desire to help bring cross-chain assets to DeFi.

Benefits of Joining the Ren Alliance

1) Publicity | When RenVM goes live, so do Alliance partners.
2) Utility | Want to bring more users and utility to your dApp? Cross-chain assets can do that.
3) Liquidity | The Ren team is committed to providing an initial sum of BTC, BCH, & ZEC liquidity to DeFi.
4) Branding | Project’s dApp usage stats on the RenVM Command Center Leaderboard.
5) Support | Dedicated integration support from the Ren development team.
6) Testing | One-on-one product testing support from the Ren team.
7) Marketing | Co-branding on all relevant material and press releases.

Ren CEO on what’s next for the Ren Alliance…

“We could not be happier with our first set of Ren Alliance members and leading up to RenVM Mainnet SubZero release, we’ll continue accepting new applications. Once we have gathered the final set of Alliance members, the Ren Team will craft a press release and announce all partners along with our Mainnet release. We will then create a collaborative group to host all proposals, provide integration support, and assist with any questions that may come up. We are very excited to be putting all the necessary components in place for a successful RenVM Mainnet release, so help spread the word, get involved, and welcome to the cross-chain future of DeFi! Onwards and upwards.”
– Taiyang Zhang, CEO

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