Ren Protocol Community Alert: Immediate Action Required

Due to critical developments affecting Ren Protocol's stability and the safety of assets, it is essential for all members and stakeholders to note the urgent need for action and reassessment of their engagement with the platform. The situation encompasses several pivotal changes and risks:

• Imminent Shutdown: The platform is on the brink of shutdown, posing a severe risk to all held assets. Immediate transfer of Ren assets back to their original chains is advised to prevent potential loss.
• Transfer of Assets to FTX: In a significant move, all pegged assets of Ren Protocol are being transferred to FTX Trading Ltd. for safeguarding, separated into distinct cold storage wallets.
• Uncertain Future of Ren 2.0: With no recent updates on the development of Ren 2.0, its compatibility with Ren 1.0 remains unclear, raising concerns about the continuity and functionality of the platform.
• Financial Instability: The protocol faces financial challenges, with limited funding remaining, highlighting the urgency for community governance and decision-making on future funding strategies.

This alert also reflects on the protocol's journey, from its acquisition by Alameda Research and subsequent financial struggles, to the dramatic decrease in the value of its native crypto, REN, and the significant drop in total locked value within the platform. The community is at a critical juncture, facing decisions on governance, future funding, and the strategic direction amidst a backdrop of financial and operational uncertainties.

For detailed information and to understand the full scope of these developments, including their potential impacts on DeFi liquidity pools and questions surrounding RenVM's centralisation and trustworthiness, stakeholders are urged to consult the provided additional information and resources.

See detailed description below for more information.