What is Republic Protocol?
Ren is an open protocol that enables the movement of value between blockchains, allowing for tokenized representation of different assets between blockchains. Ren tokenized assets are backed 1:1. with the underlying asset locked in RenVM, a decentralized custodian. Tokenized assets are reedeemable at any time for the underlying asset, for example renBTC is redeemable 1:1 for real Bitcoin. REN is the protocol utility token used as a bond to run a Darknode powering the sMPC network (RenVM), where node providers can earn rewards in BTC, ETH, ZEC, DAI, and other ERC-20 tokens.
