Ren Live Price

What is Ren?

The Ren Protocol, formerly known as Republic Protocol, is built to foster interoperability between different blockchains, allowing users to transfer cryptocurrency quickly. It enables people to lock in crypto like Zcash (ZEC), Bitcoin (BTC), or Bitcoin Cash (BCH) and mint equivalent tokens that are in a 1:1 ratio with Ethereum (ETH). REN, the native cryptocurrency for the Ren Protocol, is used in Decentralized Finance (DeFi) related functions such as trading, lending, borrowing, and portfolio management. Ren is the first and only protocol that delivers liquidity at the inter-blockchain level for every existing decentralized app. DeFi applications could not interact with other blockchains like BTC before Ren came along. The protocol utilizes tokenized representation, allowing a user to lock up a crypto asset in a trustless custodian setup. Every REN token is backed by an equal BTC stored in the network and safeguarded by a novel security model that guarantees privacy. The value of REN was meant to be payment for computation and transaction fees within Ren. When it underwent a DeFi interoperability protocol rebranding, REN became a bond for the operation of the machine network. REN's market cap is valued at $336.5 million, with a total token supply of almost 1 million REN. The number of REN coins in circulation amounts to 997.1 million REN.

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How much is Ren worth?

Ren (REN) is worth 0.34 USD as of March 15, 2022, 2:14 am UTC time. View the interactive graph to see how much Ren has changed in the last hour or historically. Ren (REN) is an Ethereum token that powers Ren's open protocol for transferring cryptocurrencies between blockchains. Ren aims to bring popular assets like Bitcoin and Zcash to blockchains including Ethereum, making it possible for these assets to participate in a multi-chain decentralized finance ecosystem.