In 2017 software developers Taiyang Zhang and Loong Wang founded Republic Protocol. The following year the project had a private sale raising $28.9 million Ethereum by selling 56.5% of their tokens. The project rebranded itself Ren in 2019.
Ren offers inter-blockchain liquidity for all decentralized applications. This means you can do cross-chain transaction or exchange value between blochains. RenVM is the engine that runs the decentralized interoperability solution and has the possibility to lock-and-mint, burn-and-release, and burn-and-mint.