Alameda Research-backed Ren Protocol has warned users of a potential risk of losses as it winds down its current Ren Version 1.0.
The Ren team stated that once version 1.0 is retired, users may not be able to recover their assets.
Potential Losses As Version 1.0 Shuts Down
Alameda Research-backed Ren Protocol, which issues the wrapped bitcoin asset RenBTC, warned users that they risk losing their assets once it shuts down its existing Ren 1.0 version. The project team encouraged users to redeem their tokens before the current version shuts down and the tokens lose all their value. The primary reason behind the shuttering of version 1.0 is the lack of funding after the collapse of Alameda Research.
The developers added that users could unwrap their tokens and bridge them back to their native chains. The Ren team plans to disable mints on Ren shortly, meaning it would be impossible to deposit assets on the platform to bridge to other networks. Additionally, burns will also be dis
We współpracy z: https://cryptodaily.co.uk/2022/12/ren-warns-of-potential-losses-as-upgrade-looms-on-the-horizon
