Bitcoin

Ren is partnering with Alameda to promote DeFi’s cross-chain interoperability

The service of bridges between chains, Ren, announced that its development team will join AlamedaAccording to a CEO blog post Taiyang Zhang.

As part of the announcement Zhang announced that the move will focus on activating Solana (SOL) for RenVM, the project’s inter-chain liquidity protocol launched in May 2020.

According to Zhang, the integration development work is currently being examined and Full implementation is expected to begin mid-year.

Ren is partnering with Alameda to promote DeFi’s cross-chain interoperability
Ren is partnering with Alameda to promote DeFi’s cross-chain interoperability

Commenting on the upcoming Solana integration, the CEO of Ren Minutes said:

“The upcoming support for Solana and its integration with Serum will help add even more volume and users to RenVM and establish it as the most widely used interoperability network. RenVM will see new and diverse assets, new users and increased fee income for its node operators. “

Zhang said the Alameda partnership will explore channels Achieve greater decentralization of your RenVM protocol. Indeed, Both partners will work on the mainnet and testnet implementations of Greycore.

For Zhang, participation in such activities is geared towards this Improvement of the interoperability between chains in the area of ​​the expansion of decentralized financing. Ren’s COO, Michael Burgesssaid Cointelegraph:

“This collaboration will undoubtedly be of great help to interoperability within DeFi. Joining Alameda will not only help expedite the decentralization of RenVM’s technology, but the Ren team will have all of Alameda’s resources at their disposal. “

According to Ren’s COO The platform has already processed a cross-chain volume of more than $ 2.4 billionThis indicates significant market validation for decentralized financial interoperability. Through the partnership with Alameda, According to Burgess, Ren’s team can leverage the research firm’s expertise in areas such as operational growth and community governance infrastructure., amongst other things.

As previously reported by Cointelegraph, Solana’s trading volume has increased significantly in recent weeks as traders are looking for alternatives to Ethereum. In January, the Solana Foundation announced a $ 5 million development fund to help drive its growth in Southeast Asia.

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