Overcollateralized nodes custody and transfer funds between blockchains and receive burn & mint fees from traders (supply-side fees).

Ren is a non-custodial interoperability protocol built on Ethereum and other blockchains. Ren was founded by Tayiang Zhang & Loong Wang and launched in 2017. Ren is currently only in redeeming-mode, due to their exposure to the effects of Alameda Research's failure.

REN tokenholders own and govern the protocol. They do not currently take a cut of the total mint/burn fees paid by traders (revenue). Ren's investors include Polychain, FBG Capital, BlockVC, etc.

governance

github

twitter

discord

etherscan

website

Bridges

# P/F ratio (circulating) Methodology

## Overview

P/F ratio (circulating) measures the circulating market cap relative to annualized fees. It shows how highly the project is valued relative to the activity users are willing to pay for, regardless of whether the project monetizes.

${market_cap_circulating} / (rolling_avg(${fees}, 30) * 365)

Circulating market cap relative to annualized fees.

RenREN

P/F ratio (circulating)

P/F ratio (circulating)

Competitive landscape