RenVM Integrates Polygon
A direct bridge for BTC and more is live on Polygon
We are excited to announce Polygon as RenVM’s very first chain going live from the Blockchain Blitz!
Polygon has a burgeoning DeFi ecosystem with some obvious benefits for users including faster transactions and significantly lower fees. With Polygon x RenVM Bridge support, anyone can mint and burn the below assets on Polygon. This is a direct bridge so users do not need to go through Ethereum, allowing direct deposits/withdrawals to and from Polygon with minimal gas fees.
Native Assets on Polygon
$renBTC | Bitcoin (BTC) on Polygon
$renBCH | Bitcoin Cash (BCH) on Polygon
$renDGB | DigiByte (DGB) on Polygon
$renDOGE | Dogecoin (DOGE) on Polygon
$renFIL| Filecoin (FIL) on Polygon
$renLUNA | Terra (LUNA) on Polygon
$renZEC | Zcash (ZEC) on Polygon
Bridging Assets to Polygon | RenBridge & MetaMask Support
Now that the integration is live, users can bridge assets through RenBridge. BTC, ZEC, BCH, and DOGE will be supported initially with the others to go live soon after. Prior to bridging these assets through RenBridge, users should:
The safe, fast and most secure way to bring cross-chain assets to Ethereum.
4) Add Ren assets as a custom token in your MetaMask (optional). Token Contracts 👇
Once bridged you can put these assets to work. To learn more, keep reading 👇
Putting Ren-assets to work on Polygon | Curve Finance, QuickSwap, Varen, and BadgerDAO
Both teams will be pursuing the addition of Ren-based assets on all dApps that exist within the ecosystem but some favorites that we’ll be pursuing immediately are:
Curve Finance | Curve Finance has proven to be a staple in DeFi, so as with all other chains, we’ll be pursuing a renBTC like-kind assets pool on Curve. Once this is live we’ll have an announcement to follow.
Varen Finance | One of our long-standing bridge partners will be building UIs for bridging ALL Ren-assets to and from Polygon. Once this 3rd party bridge UI is live, we’ll have an announcement to follow.
BadgerDAO | As we continue our long-standing partnership with BadgerDAO, we’ll help add Polygon support to Badger Bridge. Once this is live you’ll have even more opportunities to earn yield with your BTC.
The above are just a few but many more will be added over the summer. As always, any grassroots community support for Ren-based assets is very useful. So to help out, please lobby for Ren-assets to be adopted throughout all various dApps on Polygon.
Building Cross-Chain dApps on Polygon with RenJS
Third-party developers can now build Cross-Chain dApps on Polygon with the RenJS SDK. This will be updated over the coming weeks with tutorials to make the process as smooth as possible for developers.
Get started here: https://renproject.github.io/ren-client-docs/ren-js
Looking Forward | Growing the Polygon Ecosystem with RenVM
The addition of Polygon support to RenVM will greatly benefit all stakeholders, providing more utility to Polygon and even more velocity through RenVM.
We could not be more thrilled for this to go live, so spread the word and stay tuned for more to come!
Onwards and upwards,
— Michael Burgess, COO
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc., and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Scaling Solutions have seen widespread adoption with 350+ Dapps, ~121M txns, and ~1M+ unique users.
Ren is an open protocol that enables the movement of value between blockchains.