The official Ren Protocol X account has broken its silence after a 10-month hiatus, revealing plans for the imminent release of Ren v2.
The announcement promises a “larger and more sustainable impact on DeFi” compared to its predecessor Ren v1. However, this news came just hours after Binance announced it would delist REN and several other tokens on December 10, raising suspicions.
As you know, Binance has a policy of delisting inactive projects. Ren Protocol’s announcement after months of inactivity has some analysts speculating whether “exit liquidity” is being created. However, the REN price initially reacted to the development of the situation with a pump, but then suddenly fell.
Ren Protocol developers said in their first tweet since January:
“Ren v2 is coming. We are focused on this project with a team of seven people and are more confident than ever that it will have a larger and more sustainable impact on DeFi than Ren v1.
In addition to the more obvious lessons in protocol design and management that our community has learned from Ren v1, we are also looking to address some fundamental limitations that we believe are significant bottlenecks for the broader ecosystem.
We hope to be in the spotlight soon and can’t wait to tell you all about what we’ve been up to.
Our path has been long and thorny, but the brightest days on the Rhine await us.”
Ren’s statement will likely not cause Binance to abandon its delisting decision.
*This is not investment advice.
