Alameda Analysis Joins Up With Interoperability Mission Ren

Ren – the workforce behind the interoperability blockchain challenge 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 often known as Republic Protocol, Ren acts as a bridge between varied blockchain belongings by means of 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 assist 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 power in Solana blockchain growth.

“The Ren growth workforce will likely be prioritising assist for Solana in our Multichain libraries, and in RenVM itself,” the weblog states. “This assist is at the moment beneath audit, and we anticipate that we will start bridging belongings to/from Solana in Q2. Doing so could have a profound influence on Serum, but additionally on the broader Solana ecosystem.”

This isn’t the primary DeFi challenge to hitch the Alameda and FTX workforce. Uniswap competitor SushiSwap additionally partially got here beneath the group’s umbrella after keys controlling the challenge have been transferred to Bankman-Fried in September 2020.

Bankman-Fried didn’t instantly return a request for remark.