Hi all, I would like to propose to the Ren community to support the integration of the Ren bridge with Arweave.
Arweave is a protocol for the sustainable, permanent storage of information. The past few months have seen massive growth in usage of Arweave for NFT storage and transaction archival for networks such as Solana and Avalanche, with data permanently stored on the network currently at 11TB+ and increasing fast. All of this has been accompanied by a rise in the usage and price of its native token AR as well.
To deal with all the demand for storage from various chains on Arweave the ecosystem has developed a system involving bundler nodes that help other chain users store data on Arweave by paying in other cryptocurrencies, this can be SOL, ETH etc. renAR will see usage with users and bundlers alike who want to work without worry of currency risk when buying storage on Arweave.
With Arweave’s endowment structure for paying out storage costs over time, usage of the network takes AR out of circulation for many years, in fact no AR has been paid out of the endowment since genesis. This makes AR a good candidate to being another store of value cryptocurrency and renAR a high-value bridge for AR in DeFi.
I would love to see an Arweave x Ren integration happen and I hope I have made it clear how it will be beneficial for both networks. Let me know of any questions y’all might have.