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REN DIGITAL ASSET REPORT

Introduction

Ren began in late 2017 as a decentralized dark pool protocol for cross-chain trading. Dark pools emerged in the late 1980s, and were used primarily to facilitate block trading by institutional investors who did not wish to impact the markets with their large orders.

Ren’s initial idea was to create an exchange where financial assets would be traded and matched by an engine running on a hidden order book, preventing front-running and combating slippage.

However, the developers quickly realized that it would not make sense to dedicate an entire network of machines to a single dark pool, and started to expand the scope of the project. The team launched RenEx at the end of 2018 – the first dark pool, built and supported by Ren and in parallel started to work on enabling anyone to build their own dark pool with its own set of rules.

The project continued to advance the underlying technology using end-to-end privacy and cross-chain interoperability and soon realized that it solved much bigger problems that go beyond just dark pools. Most decentralize finance (DeFi) applications need to solve the issues of privacy and interoperability, and Ren could become that fundamental piece of the puzzle that is still missing.

The team is currently working on RenVM, which will serve as a plug-in for DeFi applications and – if successfully deployed – could be integrated with different sorts of platforms including leverage, collateral, lending DEXs and many more.

This could make the project a one-stop solution for many Decentralized Finance applications, making Ren an essential part of this growing industry.

With the tremendous growth of the DeFi market for the past several years, projects that solve the issues of the overall industry have every chance to gain first mover advantage.

Ren has all the prerequisites to become one of these pioneers and see its value increase accordingly over time.

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CONVEX PICK OF THE MONTH REPORT: CVX

Summary

Convex’s business model is built on Curve, a DeFi blue chip that continues to be one of the market leaders. It repackages Curve’s governance into a liquidity bootstrapping product that is already being used by projects like Abracadabra and Alchemix, and there is potential for more projects using it down the line. Ergo, Convex is one of the few examples of business-to-business models in crypto.

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