The Ren Protocol project development team today announced that it has joined Alameda Research, better known as the founder of the FTX crypto derivatives exchange.
"Together, with collective skills, expertise, and communities, our teams will be able to bring significantly more value to the blockchain space than individually," the project said. – As part of the collaboration with Alameda, the Ren development team will prioritize Solana in its multi-chain library and in the RenVM VM itself. This support is currently undergoing an audit, and we expect to begin transferring assets from / to Solana in the second quarter."
FTX is an active user of the Solana blockchain and has launched its own decentralized exchange, Serum, based on it. Ren Protocol, for its part, specializes in creating solutions to ensure compatibility and liquidity between different blockchains. The team is behind the development of tokenized versions of Bitcoin and Dogecoin on the Ethereum blockchain-renBTC and renDOGE, respectively.
Its own Ren Protocol (REN) token has grown by 20% over the past day and is close to a historical high of about $0.77. It is currently the 59th largest asset on the market with a capitalization of $628 million.
"REN looks like a mega-bull," says Bluntz analyst. – Now I build all the charts against ETH, because I have the most bullish expectations for these pairs. It seems to me that REN has set a major low against ETH."