Ren Protocol announced this Monday, January 17, through its Twitter account, the expansion of its infrastructure and crossover tools with its new partner Varen Finance.
“We are pleased to announce that Varen, the team behind VarenX, will be joining forces with Ren and his community to develop tools and infrastructure for the cross-chain future. Ancillary tools for cross-chain products are still nascent, so combining efforts and building on the strengths of each project is the next logical step for expansion as we push the future of cross-chain to the next level”, he said. through an article published on the Medium platform.
Development Goals in 2022
The main development goals of VarenX in 2022 are:
• Host to host support
• Layer 2 blockchain support
• Gas as a Service (GaaS)
• VarenX as a service (VaaS)
• Co-development of the Ren Labs ecosystem
Host-to-Host: They will work closely with the Varen team to integrate host-to-host functionality into VarenX v2, a full feature description of which can be found here.
Layer 2 Blockchain Support: Additionally, they will focus on integrating popular Layer 2s such as Polygon, Binance Smart Chain, and Arbitrum. The overall goal is to allow users to complete cross-chain trades on-chain at the lowest possible fees.
GaaS: The next feature to be added to VarenX is Gas-as-a-Service (GaaS). This will allow users to run cross-chain trades on VarenX without having to hold ETH (for GAS) by integrating the OpenZeppelin Gas Station Network (GSN).
VaaS: Another goal for this year is to offer VarenX-as-a-service (VaaS), giving applications easy access to the power of cross-chain DeFi. VaaS essentially allows VarenX cross-chain smart contracts (i.e., 1-click cross-chain exchanges) combined with RenJS to be used and integrated by third-party applications. By allowing other dApps to use this technology, VaaS expands our user bases and generates greater speed for the Ren and Varen networks.
Ren Labs: Finally, they will also focus on cross-chain liquidity challenges with Varen. Learning from the experiences of other DeFi projects, we seek to help develop an interoperability layer that can access liquidity across chains. This year we will work with Varen on this challenging topic.