Ren Development Report | May 2022

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Ren Development Report

May 2022

With May just getting started, we wanted to share a brief update on all the progress made and things to come. Now that the monthly development updates are back, they will be in a more concise format to keep the community abreast in regular intervals. So without further ado, let’s dive into the May Development Update.

RenBridge V3

A dizzying amount of testing has gone into RenBridge V3, which is now deployed on Mainnet, with a small group of users pressure testing for final fixes. Stay tuned for the formal announcement in May!

Support for Kava & Moonbeam Host blockchains has been added to Ren

Currently these chain integrations are live on Testnet, with Mainnet to go live sometime in Q2. Having bridges to these chains will open the Ren ecosystem up to two entirely new ecosystems (Cosmos and Polkadot)!

Kava is an EVM chain on the Cosmos Blockchain. Learn more about their pioneer program here. Moonbeam is an EVM chain in Polkadot ecosystem. Fee Fix $LUNA

Last month we added gas optimization for $LUNA transactions, resulting in 44x cheaper gas costs. This uncovered a frontend bug on the Command Center when trying to withdraw $LUNA rewards, as it calculated the fees incorrectly, resulting in Darknode operators not being able to withdraw $LUNA rewards. This issue was solved on the RenJS level, which going forward will prevent issues when gas fee optimizations are made for any particular chain.

Ren Protocol Research

We are constantly looking into ways to improve the user experience for integrators. One area we have begun researching is fund recovery from gateway addresses when gateway details are lost. The leading approach we are researching involves adding a time-lock to gateway addresses, which using Bitcoin scripts could allow the original user who deposited the funds, to reclaim the funds sent to that gateway, if the funds never made it to RenVM after some amount of time.

Ren Labs Research | Ren 2.0

We are currently working hard on designing the future of the Ren protocol, and are looking for community input to decide the best path forward. We have just released an RFC outlining our current thinking, which proposes a Subnet model, where there can be multiple ‘blockchains’ (subnets) running on top of Ren with access to all blockchains integrated with Ren. The subnets could differ in decentralization and programming framework depending on developers’ intentions, offering a whole host of new possibilities which couldn’t be supported by having applications deployed only on the Ren chain itself. This will ensure the simplicity of the main network, ensuring no new attack vectors are introduced, while being able to support a multitude of different computational frameworks in parallel.

We highly encourage the Ren community to get involved, provide feedback, and propose changes and ideas, so please check out the proposal:

RFC-000–036: Ren 2.0

DeFi Safety Review

Safety is always a top priority at Ren Labs, and Ren landed a solid score of 82%. Check out the review from the DeFi Safety team here for more details.

May will continue to be another exciting month, so stay tuned for more updates by subscribing to our Twitter.

Until next time, Ren Community

About Ren

Ren is an open protocol that enables the movement of value between blockchains.

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