The volatility of the cryptocurrency space is moving people to invest in presales. And when the presales have great fundamentals, investing in them has major upsides for early movers. RenQ Finance is one such asset. Even though it is currently being offered as a presale, CoinMarketCap already had an option ready for it when the token makes it to the listing charts.
And most of the current experts are bullish about this crypto. They say that RenQ Finance can leverage its cross-chain DeFi fundamentals to become more valuable than the likes of Bitcoin and Ethereum.
What has RenQ Finance got to turn up the Crypto Crowd?
There have been multiple presale cryptocurrencies in the past. And even this year, the market is full of ICOs, and IEOs bring great fundamentals and provide early moving opportunities. But there haven’t been many projects that have gotten as much interest as RenQ finance.
Most leading publications are covering it, and many are saying that it just might be the “nest big crypto”. While these talks are similar to what we have heard before a bunch of times, it feels different now. CoinMarketCap, a tracking website known for being stringent when it comes to which cryptos to track, has already listed it.
So, what is it?
RenQ Finance calls itself a unifying decentralized finance platform that offers cross-chain DeFi mechanics allowing users to make money with crypto easily. The term easy seems to be the going theme, as the official whitepaper of the project suggests that RenQ has made things as exclusive as humanly possible.
“RENQ is a unified platform to a decentralized world” – are the first words of the whitepaper, highlighting the project’s goals to connect all the isolated blockchains and establish a cross-chain asset exchange network.
The platform positions itself as a provider of a truly decentralized service with no registration and NO KYC requirements.
A Look at the RenQ Ecosystem
Wanting to provide a one-stop solution to all types of traders with all levels of experience, RenQ has included the following elements in its ecosystem.
RenQ’s wallet offers an integrated solution by connecting with all DEXs through a single app – allowing users to perform all the traditional DeFi tasks like swapping, farming, mining, lending, staking, borrowing, shorting, and other offerings that are mainly available only on centralized exchanges.
Cross Chain Swap
RenQ ensures that the benefits of the blockchain economy get spread out everything through multiple chains – just as the original vision of crypto was. With RenQ swap utility and the automated market maker, RenQ removes the requirement of an order book and instead allows swapping to happen through the liquidity pool.
RenQ establishes its own decentralized exchange that has all the perks of a CEX but none of its weaknesses. The on-chain order book that RenQ provides is completely decentralized and allows for pricing and order size flexibility.
With the Aggregation protocol implemented in the smart contract, RenQ obtains its liquidity from multiple exchanges. That allows it to move one transaction to multiple DEXes to keep the price competitive.
RenQ plans to offer a bridge between blockchains that make the exchange of data, value, and control within them easier.
RenQ has implemented a unique farming methodology that allows users to stake LP tokens to the farm to provide liquidity while also learning LP rewards from the pool.
Other utilities include a lending protocol, perpetual, Options, a DeFi launchpad, Governance, and an NFT Launchpad.
RenQ Testnet is coming to the scene on Q3-2023
The core development of the project has already started, and the pace of the presale is accelerating its speed. The main testnet is set to launch in Q3 2023.
RenQ is planning to complete the launchpad by the third quarter of 2024, with a bounty program and metaverse to follow afterward.
An All-In-One Ecosystem That Tackles Just About Everything in the Blockchain Space
RenQ’s whitepaper paints it to be a truly unifying system that wants to put together all the disparate utilities of blockchain into one platform. You have your NFT, your DeFi, your Metaverse projects, and GameFi fundamentals implemented on a single platform.
With no limit to utility, there is no wonder people have been saying that it might rule the blockchain space and go beyond Bitcoin And Ethereum in the near future. But is such a belief warranted?
Nothing is certain in cryptocurrency – that we know. And the crypto winter has also taught us that there is more value in investing in utility-focused tokens rather than simple cryptos. If you consider that, RenQ is poised to become a winner.
However, saying anything right now might be too presumptive. Caution is the name of the game inside the crypto space. And as we get to know more about RenQ’s offerings, we might be able to make an informed estimation about whether this asset might land up in the near future. For now, we recommend watching the presale closely and keeping tabs on the project’s development.
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