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𝕯𝖆𝖓𝖌𝖊𝖗 Profile picture
@safetyth1rd
Jun 2, 2020 • 11 tweets • 5 min read • Read on X
.@renprotocol just launched on mainnet.

It’s one of the most underrated projects in DeFi

REN allows BTC, BCH and ZEC to be used trustlessly on Ethereum.

And unlike other trustless BTC token projects, Ren works today.

A thread : Image
1/ Ren started life as Republic Protocol, a project focused on private, cross-chain trading for BTC and ETH/ERC20 tokens.

Dark pool trading is common in financial markets, and Republic focused on bringing it to crypto, along with cross-chain order capability.
2/ As they developed Republic, the team realized that the private, cross-chain order technology could be expanded to smart contract interactions, making #RenVM much more versatile.

Republic was rebranded to Ren Protocol in 2019 to reflect this change.
3/ Ren has a network of “Darknodes” running the Ren Virtual Machine(RenVM), using a BFT(Tendermint) consensus algorithm.

RenVM uses Secure MultiParty Computation so Darknodes can perform messaging and computation without knowing the contents of the transactions.
4/ How does RenVM allow cross-chain interactions?

RenVM is a 3rd party between users and blockchains. It holds keys to each chain it interacts with ( #BTC, #ETH, #BCH and #ZEC).

As a distributed BFT network, it is a relatively decentralized and trustless custodian
5/ You can send BTC to RenVM to mint RenBTC, an ERC20 Token that can interact with #Ethereum smart contracts.

This renBTC can then be transferred back to real #BTC anytime by burning it.

This all happens automatically on a BFT Network. You’re not trusting any single party.
6/ Cool App: RenBridge

Deposit BTC, BCH, or ZEC and and mint an #ERC20 token representation.

At any time, you can withdraw those token back to real BTC, BCH, or ZEC.

This all happens in an automated and trustless manner.

bridge.renproject.io
7/ WBTC.cafe is another cool Dapp running on REN.

Here you can turn WBTC into real BTC, or turn BTC into WBTC, trustlessly.

Pretty neat!
8/ If you want to trade RenBTC against WBTC, you can do so at curve.fi
9/ Ren is a super cool, cross-chain protocol that works today.

Its biggest challenge/opportunity is integration partners.

If @MakerDAO, @AaveAave or @Compound supports it, or if someone builds a cross-chain Uniswap, it could transform DeFi.

Will it happen? We’ll see!
As this thread is blowing up a bit, a disclaimer:

This is my perspective of the functionality of REN Protocol as a user.

It is not an endorsement of REN token, which I have not looked at or analyzed.

DYOR.

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More from @safetyth1rd

𝕯𝖆𝖓𝖌𝖊𝖗 Profile picture
Mar 5, 2023
the meta for when you're younger is not the same as when you're older

i talk a lot of health and fitness stuff, plus prudent financial ideas

while you shouldn't neglect all that when youre young, its less important - take more risks, pursue your dreams.
18-25 is when you should be maxed out on the risk curve

you're physically peak(have more energy, drive, need less rest,recovery, ), have least to lose

pursue that girl, travel your ass off, go for that moonshot idea even if it means ignoring all my health/wellbeing life advice.
late 20s and 30s is when you should be dialing that back , pursuing more "risk-adjusted returns", learning to take care of your health, financials and well being,
Read 4 tweets
𝕯𝖆𝖓𝖌𝖊𝖗 Profile picture
Oct 15, 2022
a really useful framework ive found for participants in an asset

investors vs traders

investors buy low, for fundamental reasons

traders/speculators trade based on technical factors(S&D, momentum)

(speculators here just less informed traders)
in something like a meme coin, the trading flows dominate and you can profitably trade it technically

in something with very good fundamentals, the investment flows can equal or even overpower trading flows , investors win.
most crypto coins have a mix.

the ratio of traders to investment flows can also depend on cycle phase (e.g. bull market - tons of trader/speculator flows - for investors this is when to get out)
Read 5 tweets
𝕯𝖆𝖓𝖌𝖊𝖗 Profile picture
Oct 14, 2022
friend was having digestion issues

i recommended eating more veggies and some yogurt

2wks later - stomach is great

it's that easy, folks
*obviously this is for normal digestion issues.

if you have some weirdass gastrointestinal problem that veggies and yogurt have no effect on, you need to see a doctor
i didnt sell it here that well but gut health affects your mood, your hormones(e.g. testosterone), your immune system, your energy levels

so yeah, it's important.
Read 4 tweets
𝕯𝖆𝖓𝖌𝖊𝖗 Profile picture
Oct 13, 2022
based on what im looking at on equities on btc

if interested in longs,

you can probably safely wait a day to make a decision
sound sleep the best roi today.
not that we cant go up from here

it just doesn't look like today is
-extreme value(i.e. very good r/r)

-high probability (at least for longs)

so imo you'd be taking on high risk/volatility for poor reward.
Read 4 tweets
𝕯𝖆𝖓𝖌𝖊𝖗 Profile picture
Jun 30, 2022
financial and business media is so clueless about crypto

lots of pr opportunities for projects to take advantage of that if they know what they're doing.
but most dont
a simple general idea you can use - most journalists are on a timeline and its more important to hit deadlines than to get the best source

so if you can simply get close to reporters/journalists and show value(give good takes, explain stuff) you're already a huge step ahead.
Read 4 tweets
𝕯𝖆𝖓𝖌𝖊𝖗 Profile picture
Jun 29, 2022
you gotta be fuckign shitting me

news-medical.net/news/20201119/…
researching food health is the most depressing (but also one of the most important) things you can do.
let me save you a few hundred google seraches:

Does it make consuming food more convenient?
- probably bad for you, unfortunately.
Read 5 tweets

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