Cross-chain solution Ren and Acala reached a cooperation to explore the introduction of Bitcoin into the Polkadot ecosystem

A cross-chain solution for decentralized assets Ren has reached a cooperation with the decentralized financial project Acala. The two parties will explore the introduction of Bitcoin and other isolated asset classes into the Acala network and the Polkadot ecosystem. Ren will deploy the RenVM chain bridge module on the Acala network, and renBTC can be generated on the Acala network. renBTC can be used to generate collateral for aUSD; it can be used as DOT, LDOT, ACA and other token trading pairs on Acala DEX; users can now participate in the verification of Polkadot’s equity proof, and earn returns by trading DOT and using equity derivative agreements; Provide liquidity for DeX and earn additional income; aUSD can be transferred to Laminar Chain for margin trading while synthesizing foreign exchange trading pairs, such as euros, US dollars, gold and stocks, as well as synthesizing Bitcoin and Ethereum. Ren will integrate renBTC as a local transaction fee token. According to previous reports from Chain News, Acala has established the Acala Consortium, a decentralized financial ecological alliance, which will become the open cross-chain financial infrastructure of the Polkadot ecosystem.