Ren – the team behind the interoperability blockchain project RenVM – has joined with Alameda Research, according to a a blog post published Feb. 2.
Formerly known as Republic Protocol, Ren acts as a bridge between various blockchain assets through a custodial node solution.
In the blog, Ren CEO Taiyang Zhang said Ren has begun working on support for the Solana blockchain with the intent of porting Ethereum-based ERC-20 assets and ether (ETH) to that blockchain. Sam Bankman-Fried is CEO of both Alameda Research and trading platform FTX.
“The Ren development team will be prioritising support for Solana in our Multichain libraries, and in RenVM itself,” the blog states. “This support is currently under audit, and we anticipate that we will be able to begin bridging assets to/from Solana in Q2. Doing so will have a profound impact on Serum, but also on the wider Solana ecosystem.”
This is not the first DeFi project to join the Alameda and FTX team. Uniswap competitor Sushiswap also partially came under the organization’s umbrella after keys controlling the project were transferred to FTX CEO Bankman-Fried in September 2020.