Hello HyperCrew! Here we are with another exciting strategic partnership for all of you in the Hyper Galaxy.
This time we are joining forces with the gang over at REN to provide you with a farming opportunity on both of our chains!
For those who aren’t familiar, here’s the TL;DR on Ren from their Wiki:
RenVM is a decentralised crypto asset custodian that:
enables universal interoperability between blockchains: anyone can use RenVM to send any asset to any application on any chain in any quantity.
has robust security: large bonds, large shard sizes, and continuous shuffling make RenVM extremely difficult to attack, even for irrational adversaries. In the unlikely event of a successful attack, RenVM can restore lost funds.
is scalable: as more assets are locked into the custody of RenVM, the algorithmic adjustment of fees allows RenVM to automatically scale its capacity to meet demand.
provides an optimal user experience: users can interact with multiple assets, applications, and chains with only one transaction.
Effectively, REN allows you to safely move funds between chains. For our purposes, their announcement of May 28 that REN was incorporating the Fantom Network, means they are operating on both of the chains that HyperJump currently operates on.
So how does this work?
The RenBridge allows you to send native tokens to a wrapped state on the destination chain. For isntance, if I wanted to send some BTC to the Fantom Network, I would take the following steps:
- Go to renproject.io
- click on “Use RenBridge”
- Choose your Asset and Destination Chain
- Connect your Wallet (For the Destination Chain) — make sure you have gas token available on the destination chain, as you will pay some fees with this token.
- Review and Accept the Fees
- You will then receive a Gateway Address to send your native tokens to. This Address will be valid for a specific amount of time, you must acknowledge that you can complete the transaction in time.
- Take the Gateway Address to your native wallet and send over the funds.
- In the example transaction I created, it estimated that the funds would take about 60 minutes to arrive on Fantom. My BTC would be converted to renBTC.
Once you get your renBTC (or other renToken) you will be able to head over to Hyperjump.fi and find the new renToken Farms to LP your REN tokens for ORI or ALLOY rewards.
Like our own project, we love the fact that REN is constantly working to grow and support new chains. They hint that new token support is in the works as well, so we will continue to keep an eye on that, and endeavor to provide liquidity support when their new tokens hit the chains we are running on.
Growing together at Hyperspeed!
Invest with the Crew!
Are you a Ren users who has not tried HyperJump yet? We welcome you to join us and check out all of the innovations we bring to the project. Check out our tokens below, and join the Hyper Crew!
Binance Smart Chain
Fantom Opera Chain
Join the HyperCrew
You know what to do next. Come join us on our many social channels for more information and to have your questions answered. We love welcoming new members of the Crew to our project!
The Good Stuff
BSC Swap — https://swap.hyperjump.fi/#/swap
Fantom Swap — https://ftm-swap.hyperjump.fi
Fantom Analytics — https://ftm-info.hyperjump.fi
BSC Analytics — https://info.hyperjump.fi/home
Main Page — https://hyperjump.fi