This month brought with it the launch of RenVM Chaosnet. This marks the completion of our first step in the RenVM Mainnet Release Plan and is a significant milestone for RenVM and the broader DeFi ecosystem. If you missed it, check out the announcement here.
Alongside RenVM Chaosnet, we launched ChaosDEX: the first decentralised exchange (DEX) that supports BTC, ZEC, and BCH. The purpose of ChaosDEX is to demonstrate what is possible with RenVM and to generate real-world incentives for the Darknodes that power RenVM Chaosnet. So far, the launch of RenVM Chaosnet and ChaosDEX has seen:
- 60+ Darknodes launched by members of the community
- Over $6,500 of liquidity added to ChaosDEX
- Over $3,000 traded in ChaosDEX
- $0 lost
- 100% up-time
- No critical bugs
These results are quite encouraging and show that RenVM Chaosnet is an ideal release candidate for RenVM Mainnet SubZero. The Ren dev team has gained significant confidence in the performance and security of RenVM.
Beyond RenVM Chaosnet, a lot of other development work continues:
- Support for legacy Bitcoin Cash addresses was added. This allows old wallets and addresses to be used with Bitcoin Cash when interacting with RenVM.
- Minor memory leaks were found and fixed. These memory leaks were small enough that RenVM Chaosnet would have only been affected after several more weeks of operation.
- Minor networking bugs were found and fixed. These fixes are currently undergoing testing and review before being deployed to Devnet, Testnet, and then finally Chaosnet.
- Support for Windows was added to the Darknode CLI using WSL. This has been one of our most request features. Windows users can now set up and manage their Darknodes without needing to install a virtual machine. This makes Darknode operation much more accessible to a wider range of users.
- We have begun developing integrations into Gas Station Network. This will allow users to interact with RenVM and Ethereum without necessarily requiring gas. This will be important for Ethereum dApps looking to support actions like swapping BTC/ZEC. In such scenarios, it would be cumbersome to require the user to have gas in an Ethereum wallet in order to execute a trade that did not involve an Ethereum digital asset.
- The first iteration of the security audit for the RenVM smart contracts has been finished. We are now working to address all of the issues that were found so that we can finalise the audit report. The next step for the audit will be the Hyperdrive consensus algorithm.
- We will be opening up the RenVM Developer Center in the coming weeks. If you would like to integrate RenVM into your existing DeFi app, or start a new cross-chain DeFi app, follow us on Twitter and subscribe to our Telegram announcement channel.
- ChaosDEX will be transitioning from SAI to DAI in the coming weeks. Please follow us on Twitter and subscribe to our Telegram announcement channel so you don’t miss out on information about this transition.
- Check out the ChaosDEX stat page if you haven’t already.
This month has been one of the most exciting times for our team, especially with the launch of RenVM Chaosnet. Over the coming weeks, we will continue improving the user experience for ChaosDEX and Darknodes, while working with auditors to gain even more confidence in the security and stability of the software we have built.
RenVM Mainnet is closer than ever, and we are more excited than ever for the next phase.
— Loong Wang, CTO, Ren