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RENQ token pre-sale rockets to new heights; experts predict 100x potential — why is it called “the new SHIBA rival”?

Andrew Zhoao

News editor

Apr 13, 2023 at 07:03

RenQ Finance, a platform with a focus on giving users access to DeFi’s innovative and advanced products, has launched the sixth stage of presales. The creators have already raised nearly $10B, selling out more than 75% of all tokens. According to experts, the asset has every chance of soaring 50 to 100 times. We’ll tell you what this project is and why there is such a buzz about it.

DeFi god: What is RENQ?

RenQ is a community-driven organization. According to its official website, its goal is to provide users with universal solutions for all types of traders on one DeFi-platform.

“We aim to empower our users with a comprehensive solution by providing them a platform that has benefits of a centralized exchange (CEX) and beyond,” says the statement.

The reason for developing such a platform is that users now have to use CEXs because it is easier. It is assumed that with RenQ, consumers will be able to enjoy the benefits of centralized exchanges while using decentralized solutions.

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The three pillars of the project are:

  • Multi-chain DEX. This means the connecting of all isolated blockchains and establishing a cross-chain exchange network, providing all necessary underlying maintenance for the DeFi ecosystem. 
  • Never-ending liquidity. Obtains its liquidity from a variety of exchanges and has the capacity to spread a single trade transaction through multiple decentralized exchanges to obtain the most competitive prices.
  • Managed by its community. All decisions are made through discussions and, when permitted, voting on proposals with the native token RENQ.

Here is what is included in the ecosystem of the project:

  • Wallet. Multi all-in-one solution for all of your trading requirements.
  • Exchange. Helps to trade crypto assets across all chains.
  • Aggregator. Instantly analyzes thousands of quotes and fees across multiple DEXes to provide users with the best rates.
  • Perpetuals futures. Long or short, high leverage traders can trade with up to 100x leverage.
  • Vault. Allow users to earn compound interest on their crypto holdings.
  • Lending protocol.
  • DeFi and NFT launchpad. Allows for participation in DeFi and NFT projects across all chains.
  • Forums (DAO governance). Propose, discuss, and vote on RENQ’s future endeavors.

As for the native token of the system, RENQ, it is expected that it will first be deployed on the Ethereum blockchain (ERC20), and then it will be connected to all the chains.

The team behind the project consists of blockchain specialists, technologists, entrepreneurs, and engineers with a wide range of skills. Here are the main faces of the team:

Shiba Inu’s new rival

Binance Feed called RenQ a new competitor to Shiba Inu, explaining that:

  • Unlike Shiba Inu, which only works with Ethereum, RenQ Finance is compatible with various blockchains, including Solana, Binance Smart Chain, Polygon, and others.
  • RenQ has its own decentralized exchange, which provides fast peer-to-peer trading without intermediaries or centralized management.
  • Renq has better access to liquidity and more competitive prices, which makes it easier to buy and sell assets and improves returns.
  • In return for holding tokens for a fixed period of time, users can earn. It’s about staking and yield farming. This, among other things, encourages users to participate in the ecosystem and can contribute to the growth of RENQ.
  • RenQ has a lending and borrowing platform.
  • The platform is community-driven. This increases openness and accountability and provides a means for user-driven innovation and experimentation.

“While Shiba Inu has been a popular token in the cryptocurrency industry, RenQ Finance has emerged as a possible contender. RenQ Finance’s modular and adaptable platform, as well as its strong technical base, may make it an appealing alternative for consumers looking for more than simply a fun token,” say the experts.

In addition, it became known that the man who invested $50M in SHIB the day before the listing on Binance switched his attention to RenQ Finance. Which may also not be in favor of SHIB and say that the project has outlived itself.

Why is RenQ so hyped, and how to buy RENQ crypto?

Many investors think the project will continue to grow. Right now, after the fifth round of presales, the token is selling at $0.045. Next time, the price will go up to $0.05.

It also gives confidence that RenQ has been audited for security by CertiK, which is considered one of the best in the blockchain industry.

To buy RENQ now, you just need to go to the official site of the project and participate in the presale. To do so, you will have to take the following steps:

  1. Connect your wallet (Metamask or Trust Wallet).
  2. Choose the amount.
  3. Confirm the transactions.
  4. Check your RENQ tokens. Once the transactions have been confirmed and processed, you can see your coins on RenQ’s dashboard.

In addition, there are rumors that the token could grow to $25 this year, but as with all new projects and basically investments, you have to be extremely cautious. So far, the project only has a team, a growing community, and an innovative vision. That’s a good thing, but given the ever-changing market, RenQ’s plans could be disrupted. 

Experts, on the other hand, say the rapid growth in pre-sales could indicate a 50- to 100- fold increase in profits. But before you decide to buy a particular product, do your own research.

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