As we know ren protocol current team want to allow users to tokenization crypto assets like bitcoin and bitcoin cash and also it says is ending 1.0 this is the reason almeida in february 2021 Ren was acquired by Ren and Alameda would no longer fund and support Ren for these projects, while Ren stated in a blog post that the team had enough people in place for development by the end of the fourth quarter and On Wednesday a warning was filed through the official Twitter account warning users about the damage related to Ren 1.0
Whereis an important note as previously announced is the closure of the 1.0 network due to the events around Alameda where the ren team states that the link between ren 1.0 and ren 2.0 and its success cannot be guaranteed and the asset holders should come back to the original number as soon as possible and take the risk of losing them where they have left a further link where people can know whether the ren asset on the EVM chain and annuity and whether they have it or not And further a url has been shared which shows that the users have to revert to the original number while the team needs to secure the presidential donation as per a post published on November 18 where it seems to have been elaborated It is best to break all ties with Almora.
Considering that Ren was run under 1 Point Zero Almeida which is now in bankruptcy proceedings and the ren development team believes that it is best to phase out the 1.0 network and launch 2.0 to ensure the security of its ecosystem May the small disruptions of system and facilities.
Ren 1.0 network is shutting down due to the events surrounding Alameda &“Compatibility between Ren 1.0 and 2.0 cannot be guaranteed.
That is too say, Ren is willing to terminate its contract with Alameda and launch 2.0 service instead of 1.0, which will be opened for users and new opportunities will be provided and it will be seen that 2.0 service is well and good. Do a good job that is effective for the users and proves to be good for their use. Alameda After breaking the contract with Ren, we can definitely say that the services of Ren Protocol will become much better and it will provide the best service to the users under 2.0 service which all the users need and for this they will work continuously. and is working hard to provide the best to the users, under this, it is developing its own system, under which the users can be warned about the launching of 2.0 and also reduce the failures of 1.0. By doing this, it can be reduced and sided. We know that definitely this step will prove to be better for Ren and it will be able to make its services more secure and better for the users, which will definitely make the users happy and provide their best ratings.
