What is REN ?
With a 24-hour trading volume of $100,426,354 USD, the current Ren price is $0.979374 USD. Our REN to USD exchange rate vary in real time.
The Republic Protocol’s own token, REN, can be utilised within the network to reward nodes to perform order matching operations. That is, the REN token is utilised to facilitate platform exchange.
The Republic Protocol is a decentralised dark pool for cross-chain crypto trading that is open-source. It enables people to place orders with complete confidence.
This coin is an open protocol that aims to bring interoperability and liquidity to various blockchain platforms.
Check out our Ren deep dive to learn more about this project.
RenVM, Ren’s virtual machine mainnet, become popular in May 2020, after the company completed a $34 million initial coin offering (ICO) in 2018.
The protocol’s native coin, REN, serves as a bond for the Darknodes, or running nodes that power RenVM.
This coin intends to increase the interoperability of decentralised finance (DeFi) and hence its accessibility by reducing the barriers to liquidity between blockchains.
Most famous exchanges to deal in coins
REN can be purchased from cryptocurrency exchanges such as Binance, Mandala Exchange, OKEx, CoinTiger, and Huobi Global. You can browse through the various centralized and independent cryptocurrency exchanges via the link provided. Alternatively, this page’s markets tab also has a list of all the exchanges which currently trade on other tokens. If you are interested to buy or sell other cuurencies such as Bitcoin and more then find them here.
Unique features of REN
Ren is a simple platform with numerous use cases, but it is ultimately to help DeFi projects overcome entry and funding constraints.
It allows DeFi projects to add foreign cryptocurrency assets like Bitcoin (BTC) and Zcash (ZEC) to their services as a plug-in. Users can effectively swap any token between any two blockchains without the need for intermediaries such as “wrapped” versions of tokens, such as Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WE) (WETH).
RenVM is a virtual machine that is a nix up of a network of virtual machines. Darknodes are the devices that provide electricity to RenVM’s network.
This coin charges a variety of fees for internal operations, although the majority of them are a reward to miners rather than directly to the company. REN, as an ERC-20 token, is subject to fluctuating gas fees when used to power transactions.