Ren Development Report | Q1 2022

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Ren Development Report | Q1 2022

The first quarter of 2022 has been a busy one, with the advent of Catalog on Ren, the multichain world gaining more attention, and bridge safety taking center stage. So without further ado, let’s dive into what’s been achieved and what’s to come.

Greycore on Testnet

After many months of testing, the Greycore network is finally live on Testnet! We’ve consciously taken a lot of time to make sure this is done correctly, as we have seen far too many instances in recent times of proper security precautions not being taken.

This release includes the newest version of our peer-to-peer networking library, Airwave, as mentioned in the previous report it reduces the amount of non-determinism by minimizing background routines in favor of a single message queue — this approach has been successful so far in testing. We’ve also made a number of improvements to the new nodectl tool which will help Greycore operators administer their nodes. Most notably, around the deployment of updates, changes to the Greycore validator set, and recovering nodes in the event of data corruption. For more general information about the rollout of the Greycore, see our announcement blog post.

RenBridge v3

RenBridge has been rewritten from the ground up using RenJS v3, with support for:

Bridging H2H assets on all blockchains Ren supports (including Solana) | Check out the first cohort here. Burn-and-mint | The ability to bridge assets between host chains without having to release them first (e.g. renBTC from Avalanche to Fantom, without going back to native BTC), saving users time and fees! Safety | RenBridge is even safer now with URL persistence and TX history, to mitigate orders getting lost in transit.

RenBridge v3 is in its final stages of team testing and will be deployed shortly.

Multichain Improvements

We’ve started adding support for the next batch of chains and assets, allowing us to tap into the ZK, Polkadot, and Cosmos ecosystems. If you have requests for a token, you can follow the process described here. Further, the Multichain team put a significant amount of work into making our infrastructure easily expandable using Terraform, improving load balancing, and using a fully-managed continuous delivery service for automating our release pipelines.

We’ve also improved gas optimization for certain assets, so transactions should be cheaper than ever. Mints and burns using Terra assets are now 44x cheaper than previously (from 0.15 LUNA to 0.003399 LUNA).

Catalog Research

With Catalog making progress towards their launch, Ren’s research team is collaborating closely with Catalog to determine the ideal structure for the Ren L0 blockchain. The Ren chain will serve as the foundational omnichain layer for Bridge, Catalog, VarenX, and other applications built within the ecosystem to seamlessly move cross-chain assets from blockchains to blockchain — stay tuned for more updates here.

Community Ecosystem Fund

The CEF has been deployed and is currently being used on Mainnet. This is the first instance of the DAO managed funds in our community treasury being put to use. The first withdrawals have been made as per the governance proposals (here and here). This is another example of a custom smart contract supported by Darknodes, and a step towards Ren being a full-fledged layer 0 solution.

If you want to get involved in the direction of the CEF, join the community lead effort here.

New Website | renproject.io

We’ve updated our landing page to align with our current mission of powering the multichain world. This has been a long time coming and you can check it out here https://renproject.io.

As of next month, we will be bringing back monthly updates as we have so much we’re working on and there’s only so much you can fit into a single post. These will allow the community to keep up with developments on a shorter timescale, so stay tuned!

Until next time, Ren Team