In a move which will greatly benefit Decentralized Finance (DeFi), RenVM announced on June 11 that its partnering with Curve Finance (also a Ren Alliance member) via Ren Java Script (Ren JS) module to allow users to earn yield on their deposited tokenized Bitcoins (BTC) on the Ethereum blockchain. It also allows for easy conversions between BTC and WBTC, with low slippage rates, allowing liquidity aggregators to use the bridge to enable conversion to any coin – the service is available at WBTC Cafe. The DeFi functionality and strategies, enabled by the renBTC / WBTC pool, can include novel usage of Aave, Compound, Zapper.fi, WBTC.Cafe and DEX aggregators (1inch, Paraswap, Totle, Dex.ag etc). The press release affirmed RenVM integration and liquidity support, testing assistance, help with co-marketing and enhancing Bitcoin (BTC) in Decentralized Finance (DeFi).
🔥 @CurveFinance has integrated with @renprotocol to launch Bitcoin liquidity pools
Anyone can now seamlessly swap BTC for WBTC and earn a yield 💰
This is could be the start of something big for #DeFi
Read why:https://t.co/Qaj4sop39v— DeFi Rate (@DefiRate) June 11, 2020
“Curve is one of our favorite applications in DeFi and an impressive technological feat for the Automated Market Making (AMM) space. Moving forward we’ll continue partnering with Curve, bringing more liquidity pools and cross-chain functionality to their DeFi application. If you haven’t checked it out yet, do so here! Onwards and upwards”
— Taiyang Zhang, CEO
About Curve Finance
Curve finance is an essential Ethereum based Decentralized Finance (DeFi) project, which focuses on provision of pooled stablecoin liquidity using advanced bonding curves designed for low slippage. The liquidity providers earn extra income in return, while helping efficient stablecoin trading, generated by the fees on the platform as well as its Compound integration which generates interest.
About RenVM
Ren is an open protocol that enables the cross-chain permissionless and private transfer of value between blockchains. It aims to transfer liquidity and functionality across the Decentralized Finance (DeFi) landscape. Ren Virtual Machine (RenVM) focuses on interoperability, scaling, integration with existing infrastructure, speed and security for large volume trades.
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