Ren protocol announced the launch of Ren Alliance on Mar 2 to promote interoperability of different blockchain assets. The Ren alliance is essentially a group of DeFi companies / projects that will come together to develop new cross-chain assets, using the open source Ren protocol which enables the permissionless and private transfer of value between blockchains. Ren’s core product, RenVM, is focused on bringing interoperability to decentralized finance (DeFi). This will bolster Decentralized Finance (DeFi) by introducing larger collateral types.
The Ren Alliance will focus on three major areas of involvement for participants namely utility, security and development. The teams interested in bringing cross-chain assets to their DeFi projects, can integrate the Ren protocol and co-operate amongst each other. The second is security, whereby participants will help secure the network by running dark-nodes in semi-decentralized core, while it’s being bootstrapped during the Mainnet SubZero phase. The involvement in the development area can include providing education about the RenVM or its components and supporting the primary activities of the project. Further, the Ren team will provide support to integrate RenVM in different projects.
The Ren protocol team is currently welcoming applications for interested teams. Any team interested in joining the alliance can simply submit logo files and declare their preferred area(s) of involvement.
Ren Alliance Current Members
For Utility: 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.
For Security: Curve Finance, Kyber, Polychain Capital, Synapse Capital, Totle.
For Development: 0Confirmation, AirSwap, BlockDevs Asia, Blocklytics, Blockpool, Coinspect, Crypkit, Defi Prime, DeFi Watch, Dexlab, Dune Analytics, Fortmatic, Insula Investments, Labrys, Portal.network.
Ren Alliance Advantages
The primary benefits of joining the Ren Alliance include publicity, since alliance members will be known in the community as teams committed to bring cross-chain assets to the Decentralized Finance (DeFi). Also, their logo and DApp usage stats will be declared on the RenVM leaderboard, bringing much needed recognition to these projects. It also provides necessary support for integration, development and maintenance of RenVM to teams. The RenVM team has announced an initial of a basket of prominent crypto-assets to bring liquidity to DeFi. Further, integrating the protocol will help enhance utility and thus user adoption. RenVM team will also provide product testing and marketing assistance (co-branding on press releases and media).