Ren – the crew behind the interoperability blockchain undertaking RenVM – has joined Alameda Analysis, in accordance with a weblog post revealed Feb. 2. It’s not instantly clear what the phrases of the “becoming a member of” are.
Previously generally known as Republic Protocol, Ren acts as a bridge between numerous blockchain belongings by a custodial node resolution. Its tokenized bitcoin product, RenBTC, is the second-leading BTC asset within the decentralized finance (DeFi) ecosystem with a market cap over $500 million, in accordance with CoinGecko.
Within the weblog submit, Ren CEO Taiyang Zhang stated Ren has begun engaged on help for the Solana blockchain with the intent of porting Ethereum-based ERC-20 belongings and ether to that blockchain. Sam Bankman-Fried, the CEO of each Alameda Analysis and buying and selling platform FTX, has been an early drive in Solana blockchain growth.
“The Ren growth crew will likely be prioritising help for Solana in our Multichain libraries, and in RenVM itself,” the weblog states. “This help is presently beneath audit, and we anticipate that we will start bridging belongings to/from Solana in Q2. Doing so can have a profound impression on Serum, but in addition on the broader Solana ecosystem.”
This isn’t the primary DeFi undertaking to hitch the Alameda and FTX crew. Uniswap competitor SushiSwap additionally partially got here beneath the group’s umbrella after keys controlling the undertaking have been transferred to Bankman-Fried in September 2020.
Bankman-Fried didn’t instantly return a request for remark.