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Bought some @ .60 $REN
Bought more $REN @ $.72
Added some $REN @ .77 - I’m going to trade this based on what I learned in my 7th grade physics class- what goes down must go back up
$REN MARKET CAP $995.9 million. $REN owns 9k bitcoin worth $522m currently.
https://cointelegraph.com/news/badger-dao-and-renvm-announce-launch-of-btc-on-ethereum-badger-bridge
Glad i added during dip !$!
Hold for big money $$
Thats what im thinking too. Locked away!
Nice. $REN should be good long term $$
Finally able to grab some. HODL here and $fil
Good buy
Just bought a taste at@ $1.15 last night
REN price rallies 60%, hitting a new high after recent DeFi integration
February 19 2021 - 08:49PM
Cointelegraph
https://ih.advfn.com/stock-market/COIN/BTCUSD/crypto-news/84390453/ren-price-rallies-60-hitting-a-new-high-after-re
REN price spiked to a new all-time high shortly after its recent integration with Binance Smart Chain.
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REN price rallies 60%, hitting a new high after recent DeFi integration
REN price spiked to a new all-time high shortly after its recent integration with Binance Smart
https://cointelegraph.com/news/ren-price-rallies-60-hitting-a-new-high-after-recent-defi-integration
Ren (REN) price underwent a strong 65% breakout on Feb.19 as the interoperability-focused protocol saw continuing accumulation from whale wallets holding more than 1 million REN.
Data from Cointelegraph Markets and TradingView shows that REN rose from $0.99 on Feb. 18 to establish a new all-time high of $1.84 on Feb. 19. The move to a new high occurred as REN's trading volume also reached $704 million over the past 24-hours.
Attention for the protocol received a noticeable uptick at the end of January when it was announced that Dogecoin (DOGE) would be integrated with REN, enabling the trading of renDOGE in the growing DeFi ecosystem.
Since that time the REN ecosystem has continued to expand as more top-tier projects like Filecoin (FIL) have undergone the transformation to become renFIL, which is now being considered for addition to the AAVE ecosystem.
Binance Smart Chain integration strengthens REN's use case
REN was trading at $0.94 on Feb. 15 before it was announced that RenBridge 2 was live and integrated with the Binance Smart Chain. Since that time, the trading volume has steadily increased as well as the total value locked on the RenVM.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for REN on Feb. 18, prior to the recent price rise.
The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS™ score began to increase following the announcement of RenBridge 2 on Feb. 15 and reached a peak of 81 on Feb. 18, shortly before the price of REN began to spike upwards.
The recent integration with BSC has brought renewed attention to REN which was hampered by high transaction costs on the Ethereum network.
With decentralized finance heating up, interoperability between blockchain networks is becoming essential for a well-functioning market and REN is emerging as a key piece in cross-chain interaction.
Seems like sky is the limit for $REN $$
Yep. That same article got me to buy $REN. $REN has a lot going for it.
Your Welcome!
I have just recently added to my investment in REN..., what originally caught my attention was this article below:
A Massive Honeypot: Ren Holds $100M in Bitcoin in Centralized Wallet
The team behind cross-chain liquidity protocol RenVM controls all of the user Bitcoin contained in the project’s single wallet, worth more than $100 million.
By Alexander Behrens
4 min read
Aug 28, 2020
https://decrypt.co/40110/massive-honeypot-ren-holds-100m-bitcoin-centralized-wallet
In brief
* A Wanchain investigation revealed the renBTC liquidity bridge holds
all submitted users funds in a team-controlled wallet.
* Ren has responded that the early version of the system justifies a
greater level of centralization.
* Ren has grown to facilitate tens of millions in daily transaction
volume, with nearly $200 million in user Bitcoin locked in the
protocol.
RenVM, the burgeoning cross-chain value transfer protocol, is apparently a lot less decentralized than its users thought.
Security analysts and renBTC users started asking questions yesterday in response to an August 26 Medium post by Wanchain editor Ni Li outlining alleged contradictions between the RenVM documentation and the actual operations of the protocol.
The upshot? Although RenVM says it is “powered by decentralized virtual machines,” all of the user funds for the project—more than 9,000 Bitcoin—sit in a single wallet controlled by the RenVM team. Moreover, the company currently controls all the nodes to its network, as it is still transitioning away from a centralized system.
But as of today, can you acknowledge that $100m+ of BTC is being entrusted to you personally and the other humans of Ren?
You could, **theoretically**, collude tonight to take the 9000 BTC and disappear into the night? We are just trusting you not to?
— Chris Blec (@ChrisBlec) August 26, 2020
Some users allege that level of access increases risks from hacking or malicious activity by the Ren team, allowing them to make off with the funds in question. Since the company currently controls all of the nodes in the project, it also makes an enticing target for hackers looking for a quick buck.
The Wanchain post revealed that while Ren documentation suggested that cross-chain asset accounts are periodically changed to enhance security, the renBTC locking account has never been changed, and even the Ren team admits they have full control over the funds.
The Ren team responded today with a Medium post of their own, outlining the path laid out for achieving decentralization while navigating the risks and challenges of setting up brand-new technology responsible for hundreds of millions in crypto value. Ren says it is strongly incentivized to operate in good faith until it can transition to the more decentralized structure it’s planned all along.
In the Ren response, CTO Loong Wang concedes that the Ren team does in fact run all of the nodes in the protocol’s “Greycore,” a network built to distribute digital assets holdings to reduce the risk of theft or exploitation. The post states that five or more nodes in the network of 13 distributed around the globe would need to be compromised for malicious actors to gain access to any funds.
That part actually is not new. A company blog post from March indicated that it planned to run its own nodes for two epochs so that it could respond quickly to any security failures. Ren has plans to distribute nodes in the Greycore network to industry players including Polychain Capital, Infinite Capital, and Curve Finance at an undetermined point in the future.
More broadly, the Ren post argues that the centralized nature of the protocol has generated better outcomes for developers and users getting to know the relatively new system. Moreover, it says that full decentralization does not automatically equal greater security.
In an email to Decrypt, a Ren team member noted that, with regards to the Wanchain report, "There are a few very important technical nuances regarding sMPC and how a network (of nodes) can control one private key via sMPC."
He explained, "The important part about sMPC tech is that no one node knows the private key, the info is hidden from everyone, including the nodes themselves."
Furthermore, in terms of the node operation, he said, "We’ve had our phase documentation published and started conveying this to our users in Sept. 2019...The fact that Wanchain was not aware of our key rotation mechanism or how sMPC works (with one private key address), could be seen as negligence."
Issues with coordinating responses to issues with protocol design can lead to user losses, including Yam Finance and tBTC earlier in 2020. Ren argues that projects like Compound, which was built and tested with a centralized team and only later distributed governance to its users, have a better chance of surviving long-term.
Ren has grown rapidly in popularity in the world of DeFi through its renBTC cross-chain bridge, which uses smart contracts and (eventually) decentralized custody to secure cross-chain transfers. RenBTC supply (the amount of Bitcoin locked in the Ren system), grew more than 200% in August, and the protocol recently scored an integration with web-based MyEtherWallet alongside current DeFi king Aave.
Editor's note: This article has been updated to include comments from Ren.
Thanks for posting. $REN
Alameda Research acquihires DeFi project Ren — the maker of renBTC
by Yogita Khatri
February 3, 2021, 6:00AM EST · 1 min read
Crypto market maker Alameda Research has acquihired Ren — the DeFi project behind the development of tokenized bitcoin renBTC.
The news means Ren's core development team, around 10 to 20 people, will join Alameda, Alameda CEO Sam Bankman-Fried told The Block.
"We expect them to keep producing good projects and not really miss a beat," said Bankman-Fried.
Specifically, the Ren development team will add support for Solana in its RenVM protocol. RenVM is a cross-chain network that connects different blockchains with Ethereum and currently supports Bitcoin, Bitcoin Cash, and Zcash, among other blockchains.
"We anticipate that we will be able to begin bridging assets to/from Solana in Q2," said Ren CEO Taiyang Zhang. "Doing so will have a profound impact on Serum, but also on the wider Solana ecosystem."
Serum is a decentralized exchange built on Solana, initiated by a group including some Alameda team members.
The Solana support will also help RenVM, said Zhang. "The upcoming support for Solana, and integration into Serum, will help bring even more volume and users to RenVM [...] RenVM will see new and diverse assets, new users, and increased fee revenue for its node operators."
RenVM mainnet went live in May last year and currently has more than $600 million worth of user deposits, as The Block Research reported last week.
https://www.theblockcrypto.com/linked/93581/alameda-research-acquihires-defi-project-ren-renbtc?utm_source=coinbase&utm_medium=rss
Thanks. Filecoin looking good $$. Congrats $$
Congrats man. You nailed this one. Filcoin moving on sector growth finally. Will get ren when able, on wishlist.
$REN ->Transfer any token between any blockchain
$REN 1/2 dollar make me holler $$
$REN still moving up $$
Hey pink. What do you use as a depository that allows to buy ren? Looking at gemini but several want pw for ach transfer. Goes thru plaid but am leery.
$REN is a complex platform with multiple use cases, but it is ultimately designed to overcome barriers to entry and investment for DeFi projects.
As a plug-in, it allows DeFi projects to bring foreign cryptocurrency assets such as Bitcoin (BTC) and Zcash (ZEC) to their offerings. More broadly, users can in essence swap any token between any two blockchains without middle steps such as using so-called “wrapped” versions of tokens, for example Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH).
RenVM is a network of virtual computers making up a virtual machine. The machines powering the network which makes up RenVM are called Darknodes.
Ren charges various fees for internal operations, but most do not go towards direct profitability, instead being paid to miners. As an ERC-20 token, REN also attracts varying gas fees to power transactions.
$REN MARKET CAP $340m. $REN owns 9k bitcoin worth $369m currently.
Forty one thousand dollar holler $$$ $BTC $$$
Thirty six thousand dollar holler $$ $BTC $$
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