RenVM Greycore on Testnet
The Ren core development team is thrilled to announce the migration of RenVM Testnet to support the Greycore!
It’s been a long time coming and we are excited to bring this crucial step in Ren’s long-term vision to fruition. Learn more about the Greycore, the Testnet process, and its members below.
Why Greycore
Immediate Decentralisation does not Equate to Security
RenVM Testnet will now have a semi-decentralised validator set, also known as the Greycore, which is a set of nodes run by reputable DeFi projects that add an additional layer of protection to RenVM.
Safety of user funds is the highest priority for the Ren team and is why the Greycore concept was initially created and is an integral part of the Progressive Decentralisation plan that Ren has adhered to since September of 2019. This ensures users’ fund safety, while simultaneously moving RenVM towards a decentralised and trustless protocol that can stand the test of time.
RenVM has reached a level of maturation where the development team can confidently roll this feature out on public Testnet, the final testing ground before Mainnet.
If you would like to learn more about the Greycore, its history, and its role in RenVM, check out these resources:
- September 2019
Mainnet Release Plan - March 2020
The Road to Release - August 2020
The Road to Decentralisation
Greycore Testnet
Process & Members
The Greycore will be rolled out to members individually over the coming months during which we’ll be incorporating feedback and modifying the process to make sure it’s as smooth as possible.
Our very first member, BadgerDAO, has already spun up a node via our newly released CLI tool which is now live! We will be replicating this rollout process with all Greycore members over the coming months and keep the community updated on its progress. At the time of writing the current set of Greycore Members are (subject to change):
- BadgerDAO
- Curve Finance
- Saber Finance
- University of Nicosia (UNIC)
- IDEX
- Polymer
- Infinite Capital
- Polychain Capital
- Alameda
Looking Forward & Next Steps
Once all the Greycore members have nodes up and running the Ren core team will put the system through various stress tests throughout Q4 2021 ensuring that it is safe to move the Greycore to Mainnet.
Until next time,
— Loong
About Ren
Ren is an open protocol that enables the movement of value between blockchains.
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