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What is renBTC ?

renBTC (ERC-20) is the BTC-backed token issued on Ethereum by Ren Protocol. Ren Protocol released RenVM on 2020-05-27. Users can deposit their real BTC into its RenBridge as collaterals and RenVM smart contracts will issue the corresponding renBTC on Ethereum in a rather decentralized way. renBTC is already supported in DeFi projects like 1inch, Curve, etc. 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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