My community is deciding which multichain bridge to integrate first. Why should we choose REN compared to any other network bridge (CELR, WAN, MATIC, etc)? Not looking to fling mud at other projects. Just seeking reasonable comparable differences pros/cons etc.
What is the determining factor for integration? Is it purely open and up to projects to pull request for turn-key integration as long as the pull request is valid?
What is the expected integration time once a project presents code for integration on Github? Is there a configuration review board or some similar process?
Beside from wrapped BTC, Ren is the #1 in line for wrapping for interoperability. Also it has never been hacked as a protocol and generated almost $12B in volume. I believe Ren has a first mover advantage just as many other appreciating assets. The longer a protocol is not hacked or shown to sustain itself like BTC or Eth, the longest history chain would be shown to be able to capture volume and investments because the risk would be perceived as lower. Lowering risk should should be priority instead of short term high yield as this is an overall better investment strategy. If something goes to 0 no matter how high your margins of profit are, it’s getting evaporated. Not financial Advise of course though.
I’m currently reading the audits and that helps a lot to understand Ren. However, I’m not only trying to understand just Ren. I’m trying to know the best choice (of many choices) for integration of various digital assets in my community’s ecosystem.
Ren has never been hacked. BTC and Eth have been hacked. They survived and thrived. Sustained themselves as you pointed out. Ultimately, it is the strength of the community that matters for such events. From what I see so far, Ren’s community would be resilient in the face of any attack.
We are still researching. There are several competitors.
So far, the prevailing opinion in my community is that Ren is the leading contender.
What kind of integration are you referring to exactly?
Anyone can use the RenJS library to start using Ren to bridge assets across, no need to ask permission or open pull requests.
If you are talking about adding new assets to Ren which are not supported yet, e.g. a new ERC-20 token, there is a process in place for that. Please refer to the token whitelisting process
We want to wrap L1 to go anywhere. We have some JS specialists but before so much work is done these guys don’t want to do work and then see it go nowhere. We were thinking maybe a governance proposal to assure that if requirements are met then integration is assured. Does that make sense? Basically you wouldn’t want to do hours and hours of work and then throw it all away because it wasn’t supported by the DAO in the first place. Right?
This is the ecosystem Illustration. Our immediate target is EONE which is wrapped EPIC
So if I understand correctly you’d need support in Ren for the EONE ERC-20 token? In that case you can go through the token whitelisting process listed above. Once its approved through governance the team will add support for it
