What is REN
Ren is an open protocol that enables the movement of value between blockchains, allowing for tokenized representation of different assets between blockchains. Ren tokenized assets are backed 1:1. with the underlying asset locked in RenVM, a decentralized custodian. Tokenized assets are reedeemable at any time for the underlying asset, for example renBTC is redeemable 1:1 for real Bitcoin. REN is the protocol utility token used as a bond to run a Darknode powering the sMPC network (RenVM), where node providers can earn rewards in BTC, ETH, ZEC, DAI, and other ERC-20 tokens.