DeFi protocols on CoinEx - Republic Network (REN)
REN is another powerful Defi project that built a decentralized dark pool protocol for trading large volumes of digital assets. REN has developed infrastructure that can match orders without exposing the price or volumes of the orders publically. The project is working to make sure people do large volume trades without imparting the market not causing price slippage. The REN features centred on one of their products called RenEx dark pool. The RebEx is a decentralized dark pool exchange designed by REN. The exchange has a hidden order book and the exchange enables us to trade cross-chain digital assets. It also enables us to place large trades with little market impact and price slippage while the nodes that match order fragments do earn incentives.
Why REN?
If we take a look at the crypto market, a majority of the crypto exchanges fail to meet the performance standards and compliance guidelines the users needed. Meanwhile, the institutional capital is set to overwhelm cryptocurrency, therefore the need for an alternative trading system and advanced tools should be put into consideration. We need an infrastructure that can bring traditional finance and cryptocurrency together. This is exactly the problem REN is aiming to solve and this project has built an infrastructure that merged blockchain technology with stock markets.
With the aim of fulfilling their goals, REN has launched one of their products called RenEx. This product (RenEx) is a decentralized dark pool exchange for cross-chain trading; it is the first of its type. The RenEx is a private exchange and it runs hidden trade orders unlike the recent centralized exchange that do relay the trade order on the public ledger (order book). This type of hidden trade order can sustain the market price more than the public order. Take for instance, when a trader sees a large buy order, he will like to buy too but when he sees a huge sell order, he will push to sell quickly and also these affect and cause slippage to the value of the market. So RenEx will give room for large investors to trade without shifting the market drastically and order will be picked at the expected price.
Benefits of RenEx
Crypto asset are traded and match on a hidden order book engine
Your trades cannot be observed by anyone
Anonymity
You can trade large sizes of asset without mitigating the market
The system prevents front-running and combating slippage.
REN Token
REN is the native token of this project, it was built on ethereum blockchain.
The REN token can be used in different ways
The REN token is used in incentivizing the node operators that matches orders
The REN token is also used in paying bonds to the traders and nodes to participate in the Republic Dark Pool
Traders can use REN as a fee when submitting an order and any node that helps in order matching will receives certy percentage of the order fee
Apart from the above uses, you need a REN token to become a Registrar in REN's protocol that organizes network nodes. Interested participants do join the bond with REN token.
REN Token Statistics
REN Price - $0.262793 USD
REN ROI - 229.31%
Market Rank - #61
Market Cap - 232,651,916 USD
24 Hour Volume - 70,237,325 USD
Circulating Supply - 885,305,285 REN
Total Supply - 999,999,633 REN
All Time High - 0.593227 USD (Sep 01, 2020)
All Time Low - 0.015394 USD (Nov 27, 2018)
REN Exchange Support
REN token is available on limited exchange and among the notable one is CoinEx. This is where you can trade REN with good liquidity.
CoinEx REN
If you don't have an account with CoinEx yet, sign up here, then sign and start trading REN
I recommended CoinEx Exchange because more than 50% of the token's trading volume is on CoinEx. So using CoinEx will make you enjoy liquidity while trading REN token.
The following pairs are available on CoinEx
Closing Thought!
REN has built an open-source protocol for a decentralized network of nodes that matches orders without you knowing anything about the orders, rather once your order match is found, the system initiates a swap between you and the other traders in a peer-to-peer mode.
REN protocol enables a permissionless and private transfer of value between cross-chain. In the recent development, REN launched a new product called RenVM. This product will help to brings interoperability to Defi.
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