Wrapped cryptocurrency DeFi protocol that exports assets Rhine The overseeing community has come up with new funds to raise capital after the collapse of Alameda Research made the project inaccessible to its funds. altcoins thinking of printing.
The community is also voting to establish the Rhine Foundation, an organization that will lead the future development of the project. This vote is based on a proposal submitted to the DAO forum by Rhine Ecosystem Advocate Maximillian Roszko.
According to the Voting, 200 Million Altcoins Will Be Printed With High Chance
As part of the voting, Ren DAO members will decide how many new ren tokens will be minted. The proposal proposed four options, 50 million, 100 million, 150 million or 200 million REN tokens, as well as a fifth option to reject the funding scheme as a whole.
At its current token price, Ren can raise funds between $4 million and $17 million.
REN The altcoin is trading at approximately $ 0.085 at the time of this writing.
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Ren’s most popular wrapped asset is renBTC, a wrapped version of Bitcoin. Wrapped tokens are versions of Layer 1 native coins that can be bridged to the Ethereum network.
The Ren Foundation will fund Ren 2.0, a new version of the protocol, which, if established, will be made available as a community-driven update following the deprecation of version 1.0. Ren had to deprecate the previous version after its funds ran out.
Alameda had bought the Rhine in early 2021 and held the treasury of the project. The trading company went bankrupt, along with its sister exchange, FTX. Ren had previously stated that he only had funding until the end of 2022, following the collapse of Alameda.
*Not investment advice.