Value DeFi x Ren Protocol
A partnership with the purpose of bringing native BTC liquidity to Binance Smart Chain!
Motivation:
Value DeFi and Ren Protocol will combine their resources to bring BTC and ZEC directly to Binance Smart Chain (BSC). Ren recently added BSC support to RenVM and released RenBridge 2, designed to easily bridge BTC, ZEC, DOGE, etc to other chains. Using this bridge, users can easily convert any amount of native BTC, etc to renBTC BEP-20 and vice versa.
With that said, this collaboration will facilitate some of the first BTC and ZEC stablepools on BSC; allowing users to trade $renBTC to $BTCB and $renZEC to $ZEC-B at very slippage. The pools are as follows:
$renBTC / $BTCB
$renZEC / $ZEC-B
A Native RenVM Integration
In addition to BTC and ZEC stable pools, Value DeFi x Ren will be exploring native RenVM integration via RenJS, which will allow direct deposits and withdrawals of real BTC and ZEC into the Value DeFI Platform, a first for Binance Smart Chain!
The end product of this partnership is to enable a seamless option for DeFi users to deposit/withdraw BTC, ZEC, directly onto BSC to receive high yield. By using Value DeFi’s tech and products, this process will have very low slippage and minimals fees. Therefore maximizing profits and user accessibility in the process.
Looking Forward | Implementation
The BTC and ZEC pools will go live on the 19th April week and once implemented, both teams will begin the work to implement the native RenVM integration. After this is live, bridging BTC and ZEC to BSC will be as intuitive as possible and users will have the ability to easily earn yield with these assets on vPegSwap pool on ValueDeFi!
This marks a big step for true cross-chain interoperability, and we’re excited to see it go live! So stay tuned for more in the coming weeks.
About Ren:
Ren is an open protocol that enables the movement of value between blockchains.
Website | Docs | Telegram | Announcements | Twitter | Reddit | Github
About Value DeFi:
The Value DeFi platform is a suite of products that aim to bring fairness, true value, and innovation to Decentralized Finance. Their flagship products include vSwap, an automated market-maker built on Ethereum and Binance Smart Chain that allows anyone to create trading pools with flexible ratio pairs, add liquidity, and earn trading fees, and vSafe, state-of-the-art multi-strategy yield-optimizers that allow unprecedented composability and flexibility of LP assets to maximize returns.
Website | Telegram | Discord | Twitter | Medium | Github | vBoard
