The integration means people can now use their Bitcoin, Bitcoin Cash, Zcash, and Dogecoin with Dapps on Polygon
Ren announced on its blog yesterday that it was launching the first direct bridge to RenVM (Ren virtual machine), which will connect users with the Polygon network.
Initially known as Republic, Ren aims to make decentralised finance (DeFi) more accessible through interoperability and providing liquidity between different blockchain platforms.
Since 2020, RenVM has allowed users to bring assets such as Bitcoin, Bitcoin Cash, and Zcash to decentralised applications (Dapps) on Ethereum. Now, users will also be able to deposit and withdraw native Ren assets directly to Polygon.
With the launch of the new RenBridge, users can mint and burn Bitcoin, Zcash, Bitcoin Cash, and Dogecoin on Polygon in the form of renBTC, renZEC, renBCH and renDOGE respectively. Support for DigiByte, Filecoin, and Terra will be added soon after.
Ren-based assets will soon be available for use on all Dapps in the Polygon ecosystem, starting with QuickSwap, BadgerDAO, Curve Finance, and Varen Finance. Developers can also