1 year ago
The Ren Bridge task announced successful its ‘Ren Community’ Medium blog connected Nov. 18 the ways successful which it plans to determination guardant with Alameda Research.
Following the acquisition by Alameda aboriginal past twelvemonth arsenic portion of “a concern with the erstwhile Ren leadership” and the fallout of the FTX event, the update connected Ren Community explained that Ren’s improvement squad has lone capable backing to negociate until the extremity of the year.
1) We precocious posted an update regarding however Ren volition determination guardant from Alameda: https://t.co/VFEYHbjZmz
— Ren (@renprotocol) November 20, 2022
With the aforementioned constricted runway lasting up to Q4, the Ren squad has decided to make an open-sourced, and community-run mentation dubbed Ren 2.0.
Ren explained that this displacement towards ‘sunsetting’ Ren 1.0 has been issued to support users, the integrity of the protocol, and to guarantee a afloat community-controlled web is established successful Ren 2.0.
3) The process volition statesman soon with mints being disabled, portion burns stay enabled for 30 days.
This would impact liquidity pools with Ren-assets and possibilities for arbitraging the terms of Ren-assets successful LPs, adjacent if the underlying plus ever tin beryllium redeemed.
— Ren (@renprotocol) November 20, 2022
Ren explained that this process is acceptable to statesman soon and volition see mints being disabled portion burns stay enabled for a play of 30 days.
5) And finally, we purpose to travel backmost stronger, with a afloat decentralized and community-owned cross-chain network.
All the best,
Ren team
— Ren (@renprotocol) November 20, 2022
Upon launch, Ren claims this web upgrade to 2.0 aims volition supply a afloat decentralized and community-owned cross-chain network.
The station Ren Bridge announces unfastened root assemblage led Ren 2.0 successful effect to Alameda fallout appeared archetypal connected CryptoSlate.
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