After years of work we are finally here. RenVM Mainnet is live! This marks the beginning of a cross-chain era for DeFi and we couldn’t be more excited for its impact on the digital asset ecosystem.
For those who are unfamiliar, RenVM brings interoperability to DeFi. In simple terms, RenVM is an sMPC based decentralized custodian that fluidly mints and burns digital assets 1:1 on Ethereum as ERC20s. This means you can now use real BTC, BCH, and ZEC in any DeFi app. If you’d like to know more about RenVM and how it works, check out this brief overview or our Wiki.
This blog will cover what RenVM Mainnet means for the average crypto user, projects looking to integrate RenVM, and those who want to run Darknodes.
General Public and DeFi Users
Anyone can now use real Bitcoin (BTC), Bitcoin Cash (BCH), and Zcash (ZEC) in your favorite DeFi application. This allows you to trade, lend, and leverage these assets as you would with any other ERC20.
Where can I use RenVM right now?
- RenBridge | Mint and release BTC, BCH, and ZEC on Ethereum as an ERC20.
- Uniswap | Trade renBTC, and other Ren based assets.
- 1inch | Trade renBTC, and other Ren based assets.
Developers and RenVM Integrations
If you have a DeFi application (dApp) and want Bitcoin (BTC), Bitcoin Cash (BCH), and Zcash (ZEC) support. There are three ways to integrate:
- RenJS | A SDK that provides a customizable native cross-chain user experience in your App.
- Add RenVM’s ERC20’s | renBTC, renBCH, and renZEC are ERC20’s and you can add them to your Ethereum based dApp as you would any other ERC20. Mainnet contracts can be found here.
If you have any development related questions, please do check out the RenVM Developer Center for all your needs.
Running a Darknode
RenVM is powered by a network of nodes, called Darknodes. These Darknodes earn fees (in BTC, BCH, and ZEC) for powering RenVM and anyone can run one. All you need is 100K REN, a home computer, some technical ability, and an appetite to participate in the protocol.
Starting today, anyone can run a Darknode and installation instructions can be found here. Follow the instructions explicitly and you won’t have any issues with installation, but if you do have questions, you can join our Telegram channel for more information.
A Look to the Future
We couldn’t be more excited to reach this milestone along with having a direct impact on DeFi’s dominance for years to come. Our core plans in the short term will focus on integrations, incentivizing liquidity, and continuing to ensure that RenVM is safe and secure. With that said, RenVM is a public utility and we can’t do it alone, so if you want to help out, start spreading the word and get involved!
With RenVM’s formal release we welcome a new era in DeFi interoperability, and a very big thank you to all of our community, investors, and supporters over the years we couldn’t have done it without you.
Onwards and upwards,
— Taiyang Zhang, CEO
Ren is an open protocol that enables the permissionless and private transfer of value between any blockchain.