Ren Protocol still holds $15 million of funds, even though the network is likely about to stop at any moment now.
Ren Protocol may get shut down in the next few days or weeks — but the team doesn’t know exactly when it will happen.
Ren Protocol may shut down at any moment, taking $15 million of funds remaining on the network with it — hence the project’sWhat’s unique here is that the project’s team doesn’t know exactly when the network will stop functioning. This is because the wrapped bitcoin-focused project was acquired in February 2021 by the now-collapsed trading firm Alameda Research.
The network supports tokens wrapped from other blockchains. Chief among them is renBTC, a tokenized version of bitcoin on the Ethereum blockchain. If Ren goes down, these tokens won’t necessarily have any value, and they won’t be able to be sent back to their original chains to unlock the collateral.users to send these tokens back to their respective chains to unlock this collateral before the network suddenly shuts down.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
30 Stocking Stuffers Under $15 (That You Can Buy on Amazon)There’s a real art to finding a stocking stuffer that’s affordable yet thoughtful and won’t end up in the junk pile
Read more »
Russell Wilson clears protocols, still sits: ‘Always want to be out on the field’Russell Wilson won’t play Sunday for the Broncos despite being cleared from concussion protocol.
Read more »
Storage Protocol Tokens Slide as Traders Short FileCoin and StorjStorage protocols like Filecoin and storj faced pressure from shortsellers over the weekend, pushing down the tokens of both projects along with other storage tokens. Reports thesamreynolds.
Read more »
Mitch Trubisky to start for Steelers vs. Panthers with Kenny Pickett out in concussion protocolMitch Trubisky will start for the Pittsburgh Steelers once again.
Read more »