Ren Ecosystem Update | September 2020

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Great work Ren Team! Very excited to see how adding additional chains will impact the RenVM volume. I am hopeful that these new destinations have exciting DEFI opportunities, I can only imagine that there will be a large need for liquidity to support these new DEXs and staking opportunities. I hope that as a network we can agree to test raising the rates as we are the first movers in this space, and have a unique opportunity to set the bar. My vote would be to charge 0.5%, Mint, 0.5% burn, and see what happens. We need to make sure we can collateralize the network adequately and the only way to do this effectively with all this new volume is to increase the profitability of DN to the point where the price of Ren is able to secure the network adequately.

It may sound extreme at first, but remember first mover has the most impact in crypto and we need to actually take advantage. The alternatives won’t be exciting for true Bitcoin Maxi’s they don’t want to have to buy into tokens that they don’t have to. The alternative paths onto these chains is to take a lot of volatility risk by converting BTC into BNB, DOT, or the Stable coin projects on those platforms. All of which have real opportunity risks. Removing this risk, and providing this service is worthy of charging for, and especially with the types of yeilds that we are likely to see, we need to get our share of the pie!