About Ren
Ren (REN) is an Ethereum token that powers Ren’s open protocol for transferring cryptocurrencies between blockchains. Ren aims to bring popular assets like Bitcoin and Zcash to blockchains including Ethereum, making it possible for these assets to participate in a multi-chain decentralized finance ecosystem.
Trading Insights
Searched
61
Market Stats
Market Cap
£7.17M
-2.79%
FDV
£7.17M
Circ. Supply
999M REN
Max Supply
1B REN
Total Supply
1B REN
Diluted Valuation
£7.18M
Performance
Popularity
#1,116
Dominance
0%
Volume (24H)
£832.49K
9.36%
Volume (7D)
£6.29M
Volume (30D)
£22.07M
All time high
£1.36
Price Change (1Y)
-80.56%
Past performance is not a reliable indicator of future results. Learn more about asset risks.
Investment risk
Baseline risk: All crypto-assets are risky, regardless of the type of token you hold. Here are some 'baseline' risks to be aware of before deciding to invest.
Investment risk: The performance of most crypto-assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto-assets.
Lack of protections: Crypto-assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto-asset investments.
Crypto-assets are complex: It may be difficult to understand the risks associated with a crypto-asset investment. Do your own research and if something sounds too good to be true, it probably is.
Don't put all your eggs in one basket: Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments such as crypto-assets.
Defi tokens: Decentralised Finance (or 'DeFi') tokens (e.g. UNI, AAVE) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology.
Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens.
Regulatory risk: DeFi operates in a decentralized manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets. For example, the Perpetual Protocol (PERP) and Quickstop (QUICK) protocols may be accessible in jurisdictions where some or all the available activity may need to be regulated now or in the future. If a regulator deemed the activity to be in breach of regulation, this could seriously impact token value.
Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens.
Data/oracle risk: DeFi protocols often rely on external data sources or 'oracles'. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols.
Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.
Additional details
Recent trends
The price of Ren has decreased by 2.25% in the last hour and decreased by 2.47% in the past 24 hours. Ren’s price has also risen by 5.53% in the past week. The current price is £0.0071 per REN with a 24-hour trading volume of £832.49K. Currently, Ren is valued at 99.48% below its all time high of £1.36. This all-time high was the highest price paid for Ren since its launch.
The current circulating supply of Ren is 999,330,480.362 REN which means that Ren has as total market cap of £7,168,404.43.
Market details
REN vs markets
↘ 88.07%
REN vs BTC
↘ 89.51%
REN vs ETH
↘ 80.41%
Tags
marketplace
defi
Network & Addresses
Network | Address | |
---|---|---|
Ethereum | 0x408e41876cCCDC0F92210600ef50372656052a38 | |
Fantom | 0x408e41876cCCDC0F92210600ef50372656052a38 |
Price history
Time | Price | Change |
---|---|---|
Today | £0.0071 | ↘ 2.47% |
1 Day | £0.0074 | ↘ 2.47% |
1 Week | £0.0067 | ↗ 5.53% |
1 Month | £0.0064 | ↗ 11.03% |
1 Year | £0.0382 | ↘ 80.56% |
Past performance is not a reliable indicator of future results. Learn more about asset risks.
FAQ
Ren (REN) is an Ethereum-based token that is used to power Ren's open protocol for transferring cryptocurrencies between blockchains. Ren aims to bring popular assets such as Bitcoin and Zcash to blockchains such as Ethereum, allowing them to participate in a multichain (multiple blockchains) decentralized finance ecosystem. Ren's vision is to enable a world of applications that preserve privacy, a world where all applications are run in secret, maintaining the privacy of all users and data.
Ren is an ecosystem used to build, deploy, and run general-purpose, privacy-preserving applications that use zk-SNARK. Zk-SNARK (zero-knowledge proof) is a protocol that allows one party to prove that they possess certain information without revealing that information to anybody else. The ecosystem also consists of a multiparty protocol that is secure. The protocol enables all types of applications to run in a decentralized, trustless, and fault-tolerant environment similar to that of blockchains. The distinguishing feature is that all application inputs, outputs, and states are kept secret, even from network participants.
REN's Platform has three layers:
Moreover, REN aims to introduce development tools as the REN ecosystem grows and core components are completed. These tools can aid the open development of private applications (of any type) and pave the way for an ecosystem of privacy.
Ren's core product RenVM, a virtual machine, brings interoperability to decentralized finance (DeFi). RenVM aims to be a decentralized and trustless custodian that holds users' digital assets as they move between blockchains. Virtual machines (VMs) are machines that enable a business to run an operating system that behaves like a completely separate computer in an app window on a desktop.
Users can utilize REN to lock Bitcoins (or other assets) in a smart contract and receive the equivalent of the value of Ether on the Ethereum blockchain in exchange. From there, Bitcoin owners can use Ren to gain access to Ethereum's suite of decentralized finance (DeFi) products without selling their Bitcoins or transferring their assets across blockchains.
A user can even participate in Ethereum's DeFi ecosystem, including lending and borrowing platforms like Compound or Aave, by using these Ethereum tokens. Meanwhile, the user's Bitcoins are locked in Ren software. If a user wants access to their funds, they must use the REN cryptocurrency, which is required to pay nodes for operating and maintaining the network.
Software developers Taiyang Zhang and Loong Wang founded REN in 2017. The platform, which was previously known as Republic Protocol, was renamed Ren in 2019. Taiyang is currently a venture partner at Alameda Research. Taiyang Zhang holds two positions currently—as advisor at Ren and founding member at KeeperDAO.
Loong Wang is the CTO (chief technology officer) of Ren. Loong has attended the Australian National University in the past. Some other important members of the team are Susruth Nadimpalli (blockchain developer), Noah I (software developer), Yunshi Sun (software developer), etc.
The Platform's ICO (initial coin offering) was divided into two stages. The private sale occurred in January 2018, and the crowd sale began and ended on February 3, 2018. In less than 24 hours, the team raised the hard cap of 34 million USD. FBG Capital, Polychain Capital, Signum Capital, HyperChain Capital, Huobi Capital, and others were among the largest investors.
REN is developed on RenVM, a decentralized virtual machine that performs decentralized operations without sharing information with the users or with darknodes, which power the platform. RenVM replaces third parties and provides absolute secrecy and correctness.
Dark nodes are an important component of the REN ecosystem. Darknodes are the physical machines that power RenVM and provide storage space for the system. The total number of darknodes is 10,000. Darknode owners are paid fees for their services. Any user can connect to the network and create a darknode. To do so, users must stake 100,000 REN tokens as collateral, required to avoid the forging of a large number of identities.
The total supply of the REN token is 1,000,000,000 (1 billion), and the token is ERC-20 based. The tokens were shared in the following way: 60.2% were sold during presale and main sale, 19.9% remained as a reserve, 9.9% were held by founders, team, and advisors, 5% were committed to an early partnership, and 5% were intended for community development and partners.
The REN token is available for purchase on many exchanges, including Coinbase.
We update our Ren to GBP currency in real-time. Get the live price of Ren on Coinbase.
The current market cap of Ren is £7.17M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Ren is £1.36. This all-time high is highest price paid for Ren since it was launched.
Over the last 24 hours, the trading volume of Ren is £832.49K.
Assets that have a similar market cap to Ren include Boop, Lion Cat, Save, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Ren is 999 million.
Ren ranks 95 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 79% of Coinbase users are buying Ren. In other words, 79% of Coinbase customers have increased their net position in Ren over the past 24 hours through trading.
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Legal
This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.
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