Ren, a protocol that can bring assets from various blockchain networks into decentralized applications, announced the release of their developer center today.
This new feature will help developers integrate RenVM into their projects. Additionally, their team presented Roundabout, the first 3rd-party dApp ever built using their virtual machine.
Using privacy-preserving computation, RenVM provides an interoperability solution that can scale. The testnet currently supports Ethereum, Bitcoin, Bitcoin Cash, and ZCash. RenVM is also a network (with accompanying SDK) that allows developers to bring multi-chain functionality to their applications.
Why RenVM needs a Developer Center
RenVM isn’t a consumer product. Their goal is to allow developers of decentralized applications to link up with various blockchains. That capability is in demand because liquidity is a huge roadblock to the mass adoption of decentralized exchanges.
Access to other blockchain networks means access to more funds. Traders currently experience large slippage when trying to place average orders in Ethereum’s various decentralized exchanges and could use some of the stagnant value in other networks.
The RenVM Developer Center features two segments and is intended to help developers of decentralized projects integrate into the Ren ecosystem with ease.
First, a new “Developer Chat” feature will offer live support from the Ren team, and the “Developer Resources” section provides self-service tutorials, documentation, and 3rd-party resources.
Loong Wang, the CTO of Ren believes a crucial component in bringing interoperability to DeFi is ensuring there is support for developers who want to integrate.
Roundabout, the first dApp built using RenVM
Roundabout is a simple app with one use-case, converting BTC into ERC-20 compatible, ZBTC. Once bitcoin is sent to Roundabout, it is converted into ZBTC and can be swapped for other Ethereum based tokens on Uniswap, thanks to their new ZBTC pool. This allows users to keep their BTC position while accessing Ethereum’s DeFi ecosystem.
The app may not have many features, but it’s a good example of what their protocol intends to do, which is to allow more people to provide liquidity into DeFi. Protocols like Uniswap have the potential to allow various decentralized exchanges to access their pooled funds and increase the capability of matching orders for traders.