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.

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Bridges

# Ren Transfer volume Methodology

## 1. Overview

Ren transfer volume measures the total USD value of tokens bridged through the Ren protocol on a daily basis. This metric captures both incoming (mint) and outgoing (burn) bridge transfers across multiple blockchain networks. The calculation aggregates transfer amounts from Ren v1 gateway contract events, converts them to USD using end-of-day price feeds, and presents them as daily volume totals. This metric helps track the utilization and flow of assets through Ren's cross-chain bridge infrastructure.

## 2. Data sources

The calculation relies on several key data sources:

- **Ren v1 gateway contract events**: Parsed `LogBurn` and `LogMint` events from `BTCGateway` and `ETHGateway` contracts deployed across Ethereum, BSC, Polygon, Fantom, Avalanche, Arbitrum, and Optimism
- **Blockchain transaction data**: Block timestamps and transaction hashes from the respective blockchain networks for temporal aggregation
- **Token address mappings**: Hardcoded alternative token address mappings that redirect pricing lookups to chains with better price feed availability
- **End-of-day price feeds**: Token price data used for USD conversion, accessed through alternative token addresses when original chain feeds are insufficient
- **Token metadata**: Token decimal information required for proper amount normalization during USD conversion

## 3. Step-by-step calculation

### Component A: Raw bridge event extraction
- **Purpose**: Collect all bridge transfer events from Ren v1 gateway contracts across supported chains
- **Logic**: Query parsed `LogBurn` and `LogMint` events from both `BTCGateway` and `ETHGateway` contracts across seven blockchain networks. Extract the transfer amount from event parameters (`amount` field, with slight variations in field naming like `_amount` vs `amount` depending on the contract). Capture block timestamp, transaction hash, log index, and contract address for each event. Classify events as either 'Burn' (outgoing bridge transfers) or 'Mint' (incoming bridge transfers) based on event type.
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `address`, `amount`, event type classification

### Component B: Token address remapping
- **Purpose**: Map original token addresses to alternative addresses on chains with better price feed availability
- **Logic**: Join the raw bridge events with a predefined mapping table containing 143 hardcoded address pairs. Each mapping specifies an original token address and chain, paired with an alternative token address (typically on Polygon or Ethereum) that has reliable price feed data. This remapping was necessary because sufficient price feeds weren't available on all original chains during the calculation period. The mapping preserves the original chain information while redirecting price lookups to the alternative token and chain.
- **Key fields**: Original `account_address` and `chain`, alternative `token_address` and `alternative_chain`

### Component C: Daily volume aggregation
- **Purpose**: Group bridge transfers by day and prepare for USD conversion
- **Logic**: Truncate block timestamps to day boundaries using day-level granularity. Assign market sector as 'bridges' and business segment as 'mint_and_burn' to categorize the transfers appropriately. Group all transfer amounts by the daily timestamp, chain, and token address (using the alternative addresses from the remapping step). Sum the raw token amounts for each day-chain-token combination.
- **Key fields**: Daily `timestamp`, `chain_id`, `token_address`, aggregated `transfer_volume`

### Final aggregation
- **Combining components**: The daily aggregated transfer volumes are processed through the USD conversion macro which looks up end-of-day prices for the alternative token addresses and converts raw token amounts to USD values
- **Currency conversion**: Apply the `convert_to_usd_and_correct_decimals` macro which retrieves end-of-day price feeds for each token, corrects for token decimal places, and converts the native token amounts to USD equivalents
- **Time aggregation**: Data is aggregated at daily boundaries, with timestamps truncated to the start of each day
- **Final calculation**: The final transfer volume represents the total USD value of all bridge transfers (both mints and burns) processed through Ren v1 gateway contracts on each day, with missing days filled with zeros to ensure complete time series data

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value of assets moved across chains through a bridge.

RenREN

Transfer volume

Transfer volume

Competitive landscape

Chain breakdown