CDS CDS Wiki Renq Finance Explained: A Unified Platform to a Decentralized World
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Renq Finance Explained: A Unified Platform to a Decentralized World

Renq aims to connect all isolated blockchains and establish a cross-chain asset exchange network, providing all necessary underlying support for the DeFi ecosystem.

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Renq enables the creation of entirely new asset classes whose value is derived from blockchain based assets. Financial products such as derivatives and margin trades enable investors to achieve superior portfolio risk management and open up new speculation avenues.

Renq Finance Explained: A Unified Platform to a Decentralized World

Renq enables the creation of brand new categories of assets whose worth is derived from assets on the blockchain. Through financial instruments like derivatives and margin trades, investors can effectively manage portfolio risks and explore new opportunities for speculation.

Moreover, these instruments enhance the efficiency of the underlying assets’ market by facilitating price discovery and allowing individuals to express more nuanced views on price and volatility.

Renq offers distinct advantages compared to traditional financial products by eliminating the requirement for a regulated central clearing house, offering global and equal accessibility, and granting users permanent control over their funds.

The derivatives market within the current financial infrastructure surpasses any other market for financial assets, estimated to be over $1.2 quadrillion, which is more than ten times the global GDP.

They anticipate that as decentralized platforms mature and offer significant advantages over traditional financial systems, an increasing number of conventional assets will be listed on the blockchain. Renq will provide various decentralized protocols that implement a range of financial products based on cryptoassets.

Renq Finance Explained: A Unified Platform to a Decentralized World
Renq Finance Explained: A Unified Platform to a Decentralized World 1

Highlights

  • Never ending liquidity: Renq’s aggregation protocol sources liquidity from different exchanges and has the capability to spread a single trade transaction across multiple decentralized exchanges (DEXs) to achieve the most competitive prices.
  • Significant position volume with a narrow spread: By utilizing an order book, the spread can be substantially reduced in comparison to AMM models.
  • Security: Renq ensures that it does not store any user assets, and in addition to that, it provides users with 2FA security options to safeguard their keys and funds.
  • High leverage: Regardless of whether traders take long or short positions, high leverage is available for them to trade with up to 100x leverage.
  • Governance portal: Make use of the Governance Portal to introduce new markets or suggest other protocol modifications.
  • Cross-chain compatibility: Cross-chain refers to the interoperability between two blockchains that operate independently from each other.

Ecosystem

Renq’s objective is to offer a unified platform catering to all types of traders in the DeFi space, serving as a one-stop solution. Their goal is to empower users with a comprehensive platform that encompasses the advantages of centralized exchanges and goes even further.

The project aims to bridge isolated blockchains and establish a network for cross-chain asset exchange, providing essential foundational support for the DeFi ecosystem. They strive to enable every digital asset holder to experience a truly secure, unrestricted, and transparent DeFi service.

Renq Finance Explained: A Unified Platform to a Decentralized World
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DeFi Wallet

Renq Wallet presents a comprehensive solution to fulfill all your trading needs. It consolidates various decentralized exchanges (DEXs) into a single application, granting access to a diverse range of liquidity sources. Users can seamlessly engage in traditional DeFi activities such as swapping, farming, mining, staking, lending, borrowing, and shorting, along with a host of new offerings typically available only on prominent centralized exchanges.

With wallet, users benefit from top-level security measures that ensure the safety of their transactions. The wallet efficiently processes call data and presents information in a user-friendly manner. Renq Enclave, a default technology, further enhances the security of the wallet.

Importing wallets is made convenient through wallet, enabling users to scan private key strings or seed phrases directly within the app using their phone cameras. This functionality leverages machine learning and artificial intelligence (AI) technologies to streamline the process.

Exchange

Renq has developed a completely decentralized, on-chain order book that empowers users to execute orders directly through a smart contract, maintaining flexibility in terms of pricing and order size.

Through its Central Limit Order Book (CLOB) and matching engine, Renq offers users liquidity and price-time-priority-based matching, enabling them to specify the price, size, and direction of their trades just as they would on a traditional CLOB, but without the associated inefficiencies.

Furthermore, other protocols in the DeFi ecosystem can leverage the project to enhance liquidity and matching services, introducing an additional layer of composability.

Aggregation Protocol

Renq’s aggregation protocol sources liquidity from multiple exchanges and has the ability to distribute a single trade transaction across multiple decentralized exchanges (DEXs) to secure the most competitive prices.

This protocol plays a crucial role in providing information aggregation services across exchange protocols and networks. At the heart of the protocol is the Renq smart contract, which holds significant importance as it verifies the execution of transactions in real-time.

Bridge

Each blockchain provides unique services, possesses its own community, and operates within a distinct development ecosystem.

To foster progress and enhance user experiences, there is a pressing requirement for a fast, secure, cost-effective, and reliable method to exchange value, data, and control across different chains.

Renq Bridge fulfills this crucial necessity by enabling seamless communication between diverse and varied blockchains.

Farms

Upon executing trades on the Renq Swap exchange, users are subject to a 0.18% fee. This fee is incorporated into the Renq pool as LP tokens. On a daily basis or at least once per day, when the rewards contract is triggered, all the LP tokens are sold for $RENQ.

The newly acquired $RENQ is subsequently distributed proportionally among all LP holders in the pool, increasing the value of their LP. As a result of this rewards mechanism, the price of $RENQ is expected to rise along with its value.

Pools

Renq Pools facilitate the adoption of projects across supported chains by allocating a portion of their tokens to holders of the tokens. There are two divisions within Renq Pool, namely Core and Community.

Initially, the team will select projects for the Core Pool, while projects approved by the community on the governance portal will be included in the Community Pool. It is important to highlight that any project has the opportunity to distribute tokens through pool.

Vault

Renq Vault is a decentralized, multichain yield optimizer designed to enable users to earn compound interest on their cryptocurrency holdings. With a focus on safety and efficiency, Renq strives to provide users with the highest Annual Percentage Yields (APYs).

The Vaults in Renq employ specific strategies for yield farming, utilizing automation to continually invest and reinvest deposited funds. This approach allows for the accumulation of significant compound interest. By utilizing a Renq vault to compound your gains, you can save on numerous transactions, including associated gas costs, and precious personal time.

Instead of manually performing tasks such as harvesting and selling rewards, purchasing additional tokens, and reinvesting them, the vault automates these actions at a high frequency.

Renq Finance primarily offers Vaults as its main product, allowing users to stake their crypto tokens. The strategy associated with each Vault automatically compounds yield farm reward tokens, effectively increasing the amount of the initially deposited asset.

Despite the name “Vault,” funds are never locked within Renq Vaults, and users retain the ability to withdraw their funds at any time.

Lending Protocol

The lending protocol introduces money markets for lending and borrowing, where pools of assets and floating interest rates are determined algorithmically based on the asset’s supply and demand.

Compared to peer-to-peer lending, this approach utilizing asset pools offers enhanced liquidity, transparent interest rates, reduced speculative risks, and a streamlined lending process without the need for a counterparty.

This protocol enables users to securely deposit assets from one blockchain and borrow assets from another without relying on centralized intermediaries.

Interest rates are dynamically calculated using algorithms that consider the asset’s supply and demand. When the market experiences an increase in deposits, the interest rates decrease, making borrowing more favorable. Conversely, if borrowing activities surge, the interest rates rise, incentivizing deposits.

Perpetuals

Renq’s Perpetual Feature empowers users to engage in leverage trading, offering the flexibility to take both long and short positions. Trading futures can yield substantial profits, particularly due to the high leverage available. However, it’s crucial to have a comprehensive understanding of the mechanics and risks involved to protect your capital.

Renq’s Perpetual futures serve as excellent financial instruments for investment, enabling the potential for significant returns. By implementing effective money and risk management strategies, you can optimize your profits and minimize losses while trading Renq’s Perpetual futures.

DeFi Launchpad

DeFi Launchpad serves as a comprehensive multi-chain launch platform, offering users the opportunity to access and participate in promising blockchain projects at an early stage across various chains.

To ensure utmost security, the Launchpad leverages Renq’s advanced SmartLocks technology. This technology enables teams, developers, and early stakeholders to securely lock their tokens, providing customizable and thoroughly audited services. The release of these tokens is facilitated through smart contract technology, following the fulfillment of specific development milestones and vesting periods.

By utilizing the SmartLocks technology, Launchpad projects prioritize integrity and reliability. This approach allows projects to lock liquidity, effectively mitigating the risks of token dumps and rug pulls, thus ensuring a dependable and trustworthy pursuit of their goals.

NFT Launchpad

NFT Launchpad is a groundbreaking platform specifically created to support projects and creators in conducting fair NFT launches across multiple chains.

With the NFT Launchpad, creators and projects can establish an early community by utilizing an Initial NFT Offering (INO). This unique opportunity allows projects and creators to lower the entry barrier for developing resource-intensive NFT projects.

RENQ Token

$RENQ serves as the governance token for Renq Finance. Initially, $RENQ will be deployed on the Ethereum blockchain as an ERC20 token. Following the launch, it will be bridged to other chains to ensure its availability across multiple networks.

Tokenomics

  • Public Sale 500,000,000 (50%)
  • RENQ Pool 100,000,000 (10%)
  • RENQ Vault 100,000,000 (10%)
  • RENQ Farms 100,000,000 (10%)
  • Exchange Listings 100,000,000 (10%)
  • Liquidity 50,000,000 (5%)
  • Team 50,000,000 (5%)

Governance

Project’s governance will ultimately be in the hands of its community, who will actively participate in forum discussions and vote on proposals through Renq’s Snapshot platform.

Initially, proposals initiated by the CORE and passed with a quorum on the Snapshot voting system will hold binding authority. Community members will have the power to vote on significant matters, including changes to project’s fundamental architecture and the utilization of the presale wallet.

Conversely, the core development team will be responsible for making decisions regarding less impactful changes to Renq’s operations, such as modifications to the Renq menu farming pairs.

Proposals and Voting

The project encourage all community members to actively participate by submitting their ideas for discussion on their forums. However, they kindly request that you follow the specified format displayed when creating a new thread. Adhering to this format will help ensure that the submitted ideas are easily comprehensible and can be effectively evaluated by potential voters.

Be aware that to take part in the voting process for any proposals on their Snapshot platform, it is necessary to possess RENQPOWER from one or both of the provided options when the voting process commenced. It is important to note that purchasing $RENQ tokens after a vote has already begun will not grant you the ability to vote. This measure has been implemented to mitigate the risk of undue influence from large token holders and flashloan users.

Roadmap

  • Q2 2023 – The core product development starts.
  • Q3 2023 – Launch on Testnet
  • Q4 2023 – Native Order-Book
  • Q1 2024 – Launch on Mainnet
  • Q2 2024 – DAO Governance: Renq forum will be available for the users to start the discussion on future proposals.
  • Q3 2024 – Launchpad
  • Q4 2024 – Bounty program will be launched for public to report bugs to make renq better and safer place.
  • Q1 2025 – The project will launch it’s support and big rewards program for future metaverse projects.
  • Q2 2025 – Enhancements

Community

Renq Finance Explained: A Unified Platform to a Decentralized World
Renq Finance Explained: A Unified Platform to a Decentralized World 3

The objective of the RENQ DAO is to foster the decentralization of the Renq community, as well as promote its expansion and innovative spirit.

By actively participating in the ecosystem, joining the RENQ DAO allows you to become an essential member of the Renq Ecosystem. This provides you with the opportunity to engage with diverse communities, developers, professionals, and projects, creating a dynamic and collaborative environment.

To access more wiki articles: cryptodataspace.com

Sources:Renq
Written by
Aziz KARTAL

Aziz Kartal is 21 years old. He is a student at the Gazi University, Department of Electrical and Electronical Engineering. He works as content writer, researcher and social media manager. He generally research about Web3, Blockchain Security and Cybersecurity.

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