Ren Protocol’s official X account has broken its silence after a 10-month hiatus, revealing plans for the imminent release of Ren v2.
The announcement promises a “bigger and more sustainable impact on DeFi” compared to its predecessor, Ren v1. However, the news comes just hours after Binance announced that it would be delisting REN and several other tokens on Dec. 10, raising suspicions.
As is known, Binance has a policy of delisting inactive projects. Ren Protocol’s statement after months of inactivity led some analysts to speculate whether “exit liquidity” was being created. However, the REN price initially reacted to the development with a pump, but then experienced a sudden drop.
The movement observed in the REN price following the announcement made on X.
Ren Protocol developers said in their first tweet since January:
“Ren v2 is coming. We have focused on this project with a seven-person team and are as confident as ever that it will have a bigger and more sustainable impact on DeFi than Ren v1.
Alongside the more obvious protocol design and governance lessons our community has learned through Ren v1, we also aim to address some of the fundamental constraints that we feel are existential bottlenecks for the broader ecosystem.
We hope to be out of the spotlight soon and can’t wait to share all about what we’ve been up to.
Our path has been long and bumpy, but the Rhine’s brightest days await us.”
Ren’s statement will likely not cause Binance to back down on the delisting issue.
*This is not investment advice.
