Alameda “has no control” of Ren assets? I suppose that depends on what the word “control” means… Because Ren Labs confirmed in an earlier AMA that Alameda owns all “assets and IP” of Ren (not future versions of Ren, apparently).
Ren Labs also confirmed in that previous AMA that they are merely an “outsourcer” to Alameda on Ren. So if Alameda owns existing IP, isn’t it reasonable to assume a bankruptcy lawyer would look to seize control of those assets or revenue streams owned by Alameda? Why not? Alameda may have no control now over existing keys, but legally, can’t they get control, since they own those assets?!? Isn’t it reasonable to assume they can, or will at least try?
So to avoid the constant gaslighting and half answers (always coupled with “but just wait for Ren 2.0!”), can someone please answer this:
1 - Who controls the RenVM multi-sig today (the 13 greycore nodes that actually control Ren execution and consensus)? Documents say the “Ren team,” but what does that mean after the Alameda acquisition? Do Ren Labs employees control greycore? Others? A combination? Isn’t it reasonable to assume other projects will walk away from Ren without clarity on who controls the funds in RenVM?
2 - What happens if a bankruptcy court demands keys to the Ren multi-sig controlling RenVM, what is Ren Labs’ response? As Alameda owns RenVM assets and IP, and Ren Labs is only an “outsourcer” to Alameda, seems like a reasonable course of action, no? And so isn’t it reasonable for other projects to avoid this risk and reduce exposure to renBTC and other assets without clarity here?
3 - Alameda was paying Ren Labs as an “outsourcer” for Ren development. I assume this was part of the acquisition agreement (but of course I don’t know because no details were ever shared). This money is obviously not coming any longer. How will Ren Labs finance existing maintenance and support of RenVM, plus future development of Ren 2.0, since there is almost no money in the Ren Community Fund for this? Will Ren Labs subsidize Ren 2.0 development from their Catalog funds? Some other source? So who is paying Ren developer salaries moving forward?
4 - As noted, Ren Labs claimed in an earlier AMA to be working on Ren as an “outsourcer” to Alameda. Isn’t that agreement no longer valid? What is the legal relationship between Ren Labs and Alameda today, in light of the recent bankruptcy filing? If Ren Labs was only an outsourcer to Alameda, how can Ren Labs continue to work on the project (current RenVM) with no legal authority?
Thanks in advance for providing clarity on these important issues!