Newly live feature of Ren can support and bridge almost any asset on any blockchain

2021-12-2 22:08

Ren, a protocol enabling movement of value between blockchains, has announced its Host 2 Host feature is now live on mainnet. With Host 2 Host, RenVM can support and bridge almost any asset on any chain.

Some examples of the token types and possibilities Host 2 Host provides: Generic ERC-20 Tokens: Now, RenVM can move generic ERC-20s such as $MIM to any host chain supported such as Solana, Abriturm, Polygon, etc. (as $renMIM). LP Tokens: RenVM also can now move LP tokens from one chain to another, meaning if approved RenVM can move $crvRenWBTC from Ethereum to Fantom to be used as collateral for a stablecoin like $MIM (as rencrvRenWBTC). Cross-Chain Native Tokens: Moreover, RenVM is able to now move assets native to other chains to any other host chain like $SBR (an SPL token, the Solana token standard) to chains such as Ethereum as an ERC-20 (as $renSBR). Native L1 Assets: Lastly, RenVM can now move assets that are native to L1’s, such as $ETH, to other chains such as Solana in the form of $renETH (as an SPL token in the Solana case). Initial assets that RenVM supports can be found below (alphabetical order):

Native Blockchain Assets

ArbETH = Arbitrum AVAX = Avalanche BNB = Binance Coin ETH = Ethereum FTM = Fantom MATIC = Polygon (Matic)

ERC-20 Tokens

$BADGER = Badger DAO $BUSD = Binance USD $CRV = Curve $DAI = Dai $EURT = Euro Tether $FTT = FTX $KNC = Kyber Network $LINK = Chainlink $MIM = Magic Internet Money $REN = Ren $ROOK = KeeperDAO $SUSHI = SushiSwap $UNI = Uniswap $USDC = USD Coin $USDT = Tether

These ERC-20 and native chain assets now have wrapped counterparts on all blockchains RenVM supports (e.g. $renMIM on Binance Smart Chain, Polygon, Fantom, Avalanche, Arbitrum, and Solana). Token contracts for all assets on all blockchains that RenVM supports can be found on GitHub.

Those interested in experimenting with moving these assets can do so in the new RenJS V3 demo.

“With the advent of Host 2 Host asset support, the Ren Core Dev team needed to completely overhaul RenJS, the Javascript library that allows third-parties and dApps to interact with, and use RenVM. These changes are significant and have been the biggest update to RenJS to date, making it a far more resilient and usable SDK for the ever-expanding cross-chain DeFi world.”
– The Ren Team

The post Newly live feature of Ren can support and bridge almost any asset on any blockchain appeared first on CryptoNinjas.

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