What are the differences between ren and renq in the cryptocurrency market?

1 answers

• Mar 22, 2022 · 3 years ago
  Ren and RenQ are cryptocurrencies that serve different purposes in the cryptocurrency market. Ren is a decentralized protocol that facilitates the transfer of assets across different blockchains. It allows users to mint renBTC, renZEC, and other renAssets, which are ERC-20 tokens backed by their respective cryptocurrencies. RenQ, on the other hand, is a governance token that grants holders the ability to vote on protocol changes and participate in the governance of the Ren ecosystem. While Ren focuses on enabling cross-chain interoperability, RenQ is primarily used for community governance. Both tokens have their own unique characteristics and contribute to the overall functionality of the cryptocurrency market.
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