- KuCoin recently made a historic announcement of a significant collaboration with Ren and Loopring
- REN is a crypto asset that established RenVM that represents a digital machine mainnet
- Loopring is a decentralized exchange protocol based on Ethereum
KuCoin is a cryptocurrency exchange based in Hong-Kong. The exchange facilitates its users with one of the world’s most majestic trading pairs. The exchange claims to have the most trustworthy and the most developed API on the market.
KuCoin’s latest decision on listing
KuCoin recently made a historic announcement via their official Twitter account. The platform declared a significant collaboration with Ren (REN) and Loopring (LRC). KuCoin has declared that the respective trading will begin on February 3rd.
Both these crypto assets are very very distinctive in their features. REN is a crypto asset that accelerates Ren. The first and only unfastened protocol facilitates the availability of inter-blockchain liquidity for all decentralized programs. Loopring, on the other hand, is a decentralized exchange protocol based on Ethereum. It was created to enable users to transfer assets across various exchanges.
The details of REN and Loopring
Ren is popularly known as Republic Protocol. It established RenVM that represents a digital machine mainnet. It managed to conclude an initial coin offering worth $34 million in 2018.
The protocol’s domestic token, REN, operates as a bond. It works for those who run nodes that accelerate RenVM, called the Darknodes. Ren focuses on the expansion of interoperability. Moreover, it tends to widen the accessibility of decentralized finance by removing obstacles incorporated in liquidity between blockchains.
Loopring facilitates protocol for smart contracts. It offers more vital liquidity and improvement in prices. The former is ascertained by putting orders parallel to each other in the format of order-rings. Apart from order sharing, various relayers can create a consortium for constructing a shared liquidity pool. It will enable them to compete with prominent exchanges.
Moreover, Loopring collaborates off-chain sharing of orders with on-chain settlement. It aims to examine every token before it arrives on the market. However, despite the best due rigour, there are still uncertainties when investing. KuCoin is not responsible for investment profits or losses.
Besides, KuCoin has strictly warned the users to be responsible for their investments in cryptocurrency. The platform has declared a precautionary statement where it requests its user to examine the risk thoroughly.
KuCoin’s website emphasizes that crypto investments are equivalent to investments in venture capital. The cryptocurrency market is accessible for trading with no restrictions on the opening and closing times.
Thus, it would be interesting to observe how the crypto market responds to this decision of KuCoin.
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