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What is Ren Protocol ?

Ren is an open protocol that enables the permissionless and private transfer of value between various blockchains. On 2020-05-27, Ren protocol released RenVM, a versatile decentralized, trustless, and permissionless custodian that unlock cross-chain DeFi interoperability for trustless asset exchange. RenVM is composable like a piece of lego. Using specialized adapters, DeFi apps can bring cross-chain functionality to their users without users needing to worry about minting, burning, wrapping, and unwrapping. For example, you can deposit you real BTC into its RenBridge as collaterals and RenVM smart contracts will issue the corresponding renBTC on Ethereum. The end result is that you can swap BTC on a DEX, lend or borrow BTC on a lending platform, or collateralize synthetic assets using BTC. Ren Protocol has issued the REN token. Latest public [audit reports](https://github.com/renproject/ren/wiki/Audits) are provided by ChainSecurity and Consensys Diligence.

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