A New Era for RenVM
We are very excited to announce Host 2 Host is now live on Mainnet!
Host 2 Host allows RenVM to support and bridge almost any asset on any blockchain. A few examples of the token types and possibilities Host 2 Host provides:
- Generic ERC20 Tokens: RenVM can now move generic ERC-20s such as $MIM to any host chain we support such as Solana, Abriturm, Polygon, etc. (as $renMIM).
- LP Tokens: RenVM can now also move LP tokens from one chain to another, meaning if approved RenVM can move $crvRenWBTC from Ethereum to Fantom to be used as collateral for a stablecoin like $MIM (as rencrvRenWBTC).
- Cross-Chain Native Tokens: RenVM can now move assets native to other chains to any other host chain like $SBR (an SPL token, the Solana token standard) to chains such as Ethereum as an ERC-20 (as $renSBR).
- Native L1 Assets: Last but not least, RenVM can now move assets that are native to L1’s, such as $ETH, to other chains such as Solana in the form of $renETH (as an SPL token in the Solana case).
Simply put, this opens up a new world for RenVM and its addressable market.
First Host 2 Host Cohort | New RenVM Assets
The first cohort of assets that RenVM supports is as follows (in alphabetical order):
Native Blockchain Assets
- ArbETH = Arbitrum
- AVAX = Avalanche
- BNB = Binance Coin
- ETH = Ethereum
- FTM = Fantom
- MATIC = Polygon (Matic)
- $BADGER = Badger DAO
- $BUSD = Binance USD
- $CRV = Curve
- $DAI = Dai
- $EURT = Euro Tether
- $FTT = FTX
- $KNC = Kyber Network
- $LINK = Chainlink
- $MIM = Magic Internet Money
- $REN = Ren
- $ROOK = KeeperDAO
- $SUSHI = SushiSwap
- $UNI = Uniswap
- $USDC = USD Coin
- $USDT = Tether
These ERC20 and native chain assets now have wrapped counterparts on all blockchains RenVM supports (e.g. $renMIM on Binance Smart Chain, Polygon, Fantom, Avalanche, Arbitrum, and Solana). Token contracts for all assets on all blockchains that RenVM supports can be found below 👇
Try out moving these assets on our RenJS V3 Demo! 👇
*This is for DEMO and testing purposes only! Don’t expect it to work as a real dApp (again it is a demo) and please do not move large amounts of funds.
Adding Tokens RenVM | Whitelisting via Governance
New token additions will be dictated by community governance. There is a formal whitelisting process that can be found below 👇
- The whitelisting section on Ren Forum can be found here: https://forum.renproject.io/c/token-listing-proposals/14
- The instruction set can be found here:
- New submissions can be found here:
RenJS v3 is live | Start Building Cross-Chain dApps!
1) Streamlined Addition of New Blockchains
RenJS v1 and v2 relied heavily on Ethereum libraries and types, meaning that a) developers had to import these large libraries even if they were just using other chains (e.g. Bitcoin to Solana) and b) making new chains like Solana much more involved and cumbersome to build with. RenJS v3 has been refactored to no longer rely on these libraries outside of its own Ethereum library. This will significantly speed up adding support for new chains in the future.
2) Updated Interface
Updated interface to match RenVM’s path towards being able to move any value between any chain. This also applies to submitting/waiting for transactions — making it easier for developers to add new chains.
3) Support for Custom Instances
Improve support for using custom and/or local RenVM instances or chain instances.
4) Improved Security
Reduce dependencies to minimize dependency vulnerabilities/attacks.
These improvements will greatly expand RenJS’s ability to serve the DeFi ecosystem and enhance cross-chain composability, so start building 👇
If you have any questions while building join our RenJS Discord channel here.
Looking forward & next steps | In order of priority
Today marks the release of the Mainnet contracts — there is still plenty to do and the fruits of H2H will take time to bear fruit, so please be patient. With that said, our next steps are outlined below:
- The first priority is to add the above assets to the RenBridge UI so they can be used by the general public. Until then, the community will be working with 3rd parties to get these assets added to various UIs throughout the ecosystem.
- A major effort by the community will be bootstrapping liquidity for these assets; this will take a unified effort by the core team and community alike, so help us get started by joining the community discord here. We’ll be exploring the approach of “liquidity nodes” to facilitate native to native asset bridging with Ren & Curve Finance pools in a future post.
- The team has already started working on a new transaction type known as burnAndMint, which will make it easier and cheaper to move wrapped tokens between smart-contract chains. No longer do you need to go from renBTC to BTC before minting to another chain as renBTC again, you’ll be able to go from renBTC on Ethereum to renBTC on Arbitrum at once. This will also be announced separately and incorporated into RenBridge as it goes live.
We are very excited to finally release Host 2 Host but again, have plenty of work ahead of us, so get involved in the community via Discord and help RenVM become THE universal Bridge for DeFi.
Onwards and upwards,
— Ren Community