Enter Multichain with Ren

Hey everyone, as some of you might have seen, Ren recently launched a multichain bridge over to Avalanche C-chain: https://twitter.com/el33th4xor/status/1400866256329363456?s=20

This bridge currently supports BTC, BCH, DOGE, ZEC, with FIL, LUNA, and DGB coming up, and in a month or so we’ll support tokens from Ethereum, Binance Smart Chain, Fantom and Polygon to move to Avalanche as well.

What sets this bridge apart is that you could have a random token on Avalanche, and want to get hands on say native BTC, you could trade to renBTC on Pangolin and then release to native BTC through RenBridge. Or you might have BTC on a centralized exchange or wallet and want to quickly, easily, and without permission, bring this over to Avalance, and this can be done through RenBridge as well.

Of course, since this bridge was launched last week, liquidity for these assets is very little on Pangolin recently. I’ve put up pools for BTC, BCH, DOGE and ZEC against AVAX, with the BTC one here:

https://app.pangolin.exchange/#/add/AVAX/0xDBf31dF14B66535aF65AaC99C32e9eA844e14501

So wondering what the appetite is from the Avalanche and Pangolin community to help bootstrap liquidity for these assets, or even incentivize them.

Or if people have general ideas and comments for getting these pools going?


About Ren:

RenVM is a byzantine fault-tolerant network that is able to securely in a decentralized manner do ECDSA threshold key generation and signing via sMPC, which allows RenVM to securely manage (ECDSA) private keys of different assets like Bitcoin, and wrap these assets on smart-contract chains like Avalanche. Since launch, RenVM has processed around $5.5B in total volume of Bitcoin, Dogecoin, Filecoin, Zcash, Bitcoin cash going through the bridge.

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Would love to see Pangolin rewards for tokens that can attract a big crowd. Imagine rewards for AVAX/renDOGE and suddenly all the DOGE holders (including certain billionaire influencers) can farm PNG on Avalanche. That’s just an example though and I think all coins that don’t have substantial presence in competing protocols present a good opportunity.

For renBTC, I would encourage you to reach out to Snowball (snowball.network). They have already vaults for trading stablecoins and can set up a stableswap for renBTC and WBTC.

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This is great. Ren is a fantastic team and protocol, and getting more major assets trading on Pangolin would be a huge win for everyone.

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Cool, love the idea and looking forward to the cooperation

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This is great news for Pangolin and Avalanche network. The only thing please don’t forget to keep in mind and as a priority the value of PNG token. The vast majority of rewards must go to PNG pools… something like PNG/AVAX 20x… PNG/others 5x… Avax/others 1x

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Yeah for sure putting up for example renBTC/PNG and renDOGE/PNG pools is certainly interesting and something we would get behind as well!

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