Ren (REN) Price
REN RANK #1764The price of Ren (REN) is calculated in real-time by aggregating the latest data across 10 exchanges and 12 markets, using a global volume-weighted average formula. Learn more about how crypto prices are calculated on CoinGecko. Ren Protocol is a permissionless and trustless protocol that allows users to transfer tokens across different blockchains. Ren’s core product, RenVM is focused on building an interoperability solution for Decentralized Finance (DeFi). It was formerly known as Republic Protocol and originally wanted to be a “dark pool'' decentralized exchange project. A “dark pool” is considered to be an exchange in which financial assets are first matched and then traded on an order book that is private. REN tokens were originally used to pay for transactional fees and used as a bond by those running the Darknodes. The protocol rebranded itself in 2019 and focused on being a DeFi interoperability solution. Ever since then, REN is mainly used as a bond to operate the Darknodes. Darknodes function similarly to a validator node on a proof of stake blockchain.
