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In the wake of Alameda's collapse, the DeFi protocol Ren Protocol is in danger of not having enough funding to grow. ren is an ethereum-based DeFi protocol that mint encapsulated crypto assets to bridge to ethereum and BNB chains. ren has processed over $13 billion in cross-chain transaction volume since its inception. alameda has been in the process of developing Ren since Ren was acquired in early 2021 and has been funding Ren's development at $700,000 per quarter. The Ren team has revealed that there is currently only enough funding for development until the end of the fourth quarter, with around $160,000 remaining for the project. Ren is now hoping to secure funding from other sources. The team revealed Friday that it is exploring various opportunities with members of the community. These options will likely be voted on by the RenDAO community. In addition to securing new funding, the Ren team is also looking to launch the latest version of its protocol, Ren 2.0.

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【Ren Team: Ren Protocol needs new funding after Alameda's bankruptcy】In the wake of Alameda's collapse, the DeFi protocol Ren Protocol is in danger of not having enough funding to grow. ren is an ethereum-based DeFi protocol that mint encapsulated crypto assets to bridge to ethereum and BNB chains. ren has processed over $13 billion in cross-chain transaction volume since its inception. alameda has been in the process of developing Ren since Ren was acquired in early 2021 and has been funding Ren's development at $700,000 per quarter. The Ren team has revealed that there is currently only enough funding for development until the end of the fourth quarter, with around $160,000 remaining for the project. Ren is now hoping to secure funding from other sources. The team revealed Friday that it is exploring various opportunities with members of the community. These options will likely be voted on by the RenDAO community. In addition to securing new funding, the Ren team is also looking to launch the latest version of its protocol, Ren 2.0.

Ren Team: Ren Protocol needs new funding after Alameda's bankruptcy

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