RenVM supports Fantom
We're excited to announce that RenVM now supports Fantom!
Using RenBridge, users can now transfer assets to Fantom, where they can participate in Fantom's array of DeFi offerings and use Fantom dApps, all while enjoying Fantom's one-second transactions at a fraction of a cent.
Taking Bitcoin as an example, users can send BTC to RenBridge and receive renBTC on Fantom. Similarly, they can send renBTC from Fantom to RenBridge and receive BTC. The integration is live, with native Fantom support for:
- $renBTC | Bitcoin (BTC)
- $renZEC | Zcash (ZEC)
- $renBCH | Bitcoin Cash (BCH)
- $renDOGE | Dogecoin (DOGE)
- $renDGB | DigiByte (DGB) (in progress)
- $renFIL | Filecoin (FIL) (in progress)
- $renLUNA | Terra (LUNA) (in progress)
Bridging Assets to Fantom | RenBridge & MetaMask Support
Now that the integration is live, users can bridge assets through RenBridge. BTC, ZEC, BCH, and DOGE will be supported initially with the others going live soon after. Prior to bridging these assets, users should follow these steps:
- Add Fantom Network to your MetaMask Wallet with these instructions.
- Make sure you have FTM in your MetaMask Wallet (for gas)
- Send BTC, etc to the address shown on RenBridge UI | https://bridge.renproject.io/
- Wait approx 60 mins (6 Bitcoin confirmations) for BTC to confirm (wait time depends on digital asset sent)
- Sign FTM TX via MetaMask that pops up (pay gas)
- renBTC will be in your wallet | *May need to add it as a custom token.
Token addresses on Fantom (mainnet): BTC 0xDBf31dF14B66535aF65AaC99C32e9eA844e14501 BCH 0xc3fEd6eB39178A541D274e6Fc748d48f0Ca01CC3 DGB 0x2628568509E87c4429fBb5c664Ed11391BE1BD29 DOGE 0xcE829A89d4A55a63418bcC43F00145adef0eDB8E FIL 0xc4Ace9278e7E01755B670C0838c3106367639962 LUNA 0x7c7DAAF2dB46fEFd067f002a69FD0BE14AeB159f ZEC 0x31a0D1A199631D244761EEba67e8501296d2E383
Once you bridge your BTC, etc. you can then put them to work, to learn more continue reading below.
Putting Ren-Assets to work in Fantom | Curve Finance, BadgerDAO, Varen, and more
The Ren and Fantom teams are currently working on adding Ren-based assets to Curve, QuickSwap, BadgerDAO, and beyond; stay tuned for announcements as we go live with:
Curve Finance | Curve Finance is a major player in the DeFI world, and we are pursuing a renBTC like-kind assets pool on https://ftm.curve.fi/.
Varen Finance | This longtime Ren partner will be building UIs for bridging ALL ren-assets to and from Fantom. (https://varen.exchange/#/bridges/ren)
BadgerDAO | Adding Fantom support to Badger Bridge will open up many opportunities to earn yield with BTC. (https://app.badger.finance/)
But this is just a start, and we anticipate much more to come! As always, grassroots support is effective, so we encourage the community to lobby Fantom dApps to support Ren-assets.
Growing the Fantom DeFi Ecosystem
"The addition of Fantom will greatly benefit each protocol by bringing more utility to Fantom and even more velocity through RenVM. We could not be more excited for this to go live, as it'll help bolster utility for the entire DeFi ecosystem." – Michael Burgess, Ren COO.
"We're thrilled to work with Ren to grow Fantom DeFi and open the Fantom network to Ren-assets holders. Interoperability and open-participation are core Fantom values, so it is personally gratifying to collaborate with Ren and build yet another link that connects our platform to other projects." – Michael Kong, Fantom CEO.
About Ren
Ren develops open protocol providing access to inter-blockchain liquidity for all decentralized
applications.
Website | Docs | Telegram | Announcements | Twitter | Reddit | Github
About Fantom
Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform built on a permissionless aBFT consensus protocol. On Fantom, transactions are confirmed in 1 second and cost a fraction of a cent. Speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world uses. Enterprises and government offices seeking digital transformation have also adopted Fantom technology.
Website | Docs | Research papers | Discord | Telegram | Blog | Twitter | Reddit | Github
