Ren + Alameda
Today, we’re excited to announce that the Ren development team will be joining Alameda. Together, with our collective experience, expertise, and communities, our two teams will be able to contribute more value to the blockchain space than alone. In this blog, Loong and I want to share what this means concretely for the different projects involved, and why we are excited to be working with Sam Bankman-Fried (Founder and CEO of FTX and Alameda Research) and the team at Alameda moving forward.
As part of joining Alameda, the Ren development team will be prioritising support for Solana in our Multichain libraries, and in RenVM itself. This support is currently under audit, and we anticipate that we will be able to begin bridging assets to/from Solana in Q2. Doing so will have a profound impact on Serum, but also on the wider Solana ecosystem.
The upcoming support for Solana, and integration into Serum, will help bring even more volume and users to RenVM, solidifying it as the highest usage interoperability network. RenVM will see new and diverse assets, new users, and increased fee revenue for its node operators.
In addition to this renewed focus, the Ren team will also be working with Alameda to continue development on its top-priority: reaching the next phase of decentralisation. Last month, we discussed the progress made towards distributing control of RenVM to third-parties, and the awesome impact that new technologies like Asylo will have on this progress. As part of this new partnership, Alameda will be helping to accelerate the decentralisation of RenVM by participating in the Greycore early on (in Testnet and Mainnet), and assisting with other critical infrastructure. We are more confident than ever that, in Q2, we will be taking the next step towards phase zero, where the Greycore will be responsible for consensus and, eventually, execution.
This new partnership will also have a broader impact on the blockchain space, especially Solana. With the ability to move ETH and ERC20s between chains will come the ability to move SOL, SRM, and other Solana-native assets between chains. This will help integrate Solana more deeply into DeFi, bringing more liquidity and utility to its applications and assets.
Our team continues to grow and expand, with our existing team continuing on, and new members beginning soon. By joining Alameda, we are incredibly excited to be able to collaborate with a team that has extensive experience and demonstrated skills in the unique mix of technology, finance, operations, governance, and community growth that makes the entire blockchain space possible.
In the coming weeks, we will be organising an AMA for people to ask questions. But as always, come and join the conversation in our Telegram, or on our forum.
Onwards and upwards,
Tai and Loong