Need Blockchain 'Silently' Transaction? Find Ren
Ren - A software that allows people to transfer new and existing assets across different blockchains; A decentralized ‘dark pool’; The solution of ‘silently’ selling big amounts of cryptocurrency in the rapidly growing market; breaking big orders into many small orders.
REN is the native reward and payment token in Ren.
The Origin of Ren
Taiyang Zhang and Loong Wang founded Ren in 2017, it was named Republic protocol originally, but in 2019 it was renamed, Ren. Ren is not only a software that allows people to transfer new and existing assets across different blockchains but also is a decentralized ‘Dark pool exchange’ protocol. When traders want to sell a big amount of assets and do it “silently,” they will need it. The two of the above are the main goals of the Ren system.
REN is the native reward and payment token in Ren. There are two stages of REN's ICO. The private sale occurred in January 2018. The crowd sale began and ended on February 3, 2018. The team raised the hard cap of $34m on that day. 65.2% of REN tokens were sold in various sales. The remaining tokens were allocated to the team and advisers (19.9%), community development (5%) and a company reserve (9.9%).
The REN is not only for trading but also collateral for creating Dark nodes, and users can create Dark nodes to profit from transactions.
Dark nodes are an important component of the REN ecosystem. It is a physical machine that powers RenVM and provides storage space for the system. There are 10,000 dark nodes in total. Darknode owners are paid fees for their services. Users can connect to the network and create a dark node by staking 100,000 REN tokens as collateral.
The Price of REN
The initial ICO price of REN is $0.06. In February 2019, the price of REN touched an all-time low of about $0.01548 and remained below $0.20 from its initial sale in 2018 until August 2020. It touched a record high, $1.80, on Feb. 20, 2021. After that, it dropped below $0.4 in July 2021, and It rallied again to the $1~1.2 level and stayed there from September 2021 to December 2021. After that, REN fell with the cryptocurrency market without exception. The price of REN dropped below the $0.2 level in the middle of 2022.