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:
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?
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.