Alameda Analysis Joins Up With Interoperability Venture Ren

 Alameda Analysis Joins Up With Interoperability Venture Ren

Ren – the group behind the interoperability blockchain venture RenVM – has joined Alameda Analysis, in response to a weblog post printed Feb. 2. It’s not instantly clear what the phrases of the “becoming a member of” are.

Previously referred to as Republic Protocol, Ren acts as a bridge between varied blockchain belongings by means of a custodial node resolution. Its tokenized bitcoin product, RenBTC, is the second-leading BTC asset within the decentralized finance (DeFi) ecosystem with a market cap over $500 million, in response to CoinGecko.

Within the weblog publish, Ren CEO Taiyang Zhang stated Ren has begun engaged on help for the Solana blockchain with the intent of porting Ethereum-based ERC-20 belongings and ether to that blockchain. Sam Bankman-Fried, the CEO of each Alameda Analysis and buying and selling platform FTX, has been an early drive in Solana blockchain growth.

“The Ren growth group will probably be prioritising help for Solana in our Multichain libraries, and in RenVM itself,” the weblog states. “This help is presently below audit, and we anticipate that we can start bridging belongings to/from Solana in Q2. Doing so could have a profound influence on Serum, but in addition on the broader Solana ecosystem.”

This isn’t the primary DeFi venture to affix the Alameda and FTX group. Uniswap competitor SushiSwap additionally partially got here below the group’s umbrella after keys controlling the venture had been transferred to Bankman-Fried in September 2020.

Bankman-Fried didn’t instantly return a request for remark.

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