Ren Protocol acknowledged in its replace that it’s actively engaged on the v2 improve and promised to launch extra particulars quickly.
The timing of the announcement raised eyebrows. Binance’s choice to delist REN means buying and selling, deposits, and withdrawals will halt on December 10. Following the information, REN’s value dropped sharply. Critics accused Ren Protocol of utilizing the improve announcement as a ploy to pump liquidity.
Blockchain investigator ZachXBT voiced skepticism, echoing issues from the broader group. Identified for exposing fraud within the crypto space, his criticism added weight to allegations of mismanagement or worse.
Reactions on the group had been largely adversarial in the direction of the announcement. Most customers questioned the seriousness of the improve claims. They known as the timing “suspicious” and claiming the staff was profiting from buyers’ belief.
Whether or not actual progress was made or not, this case has been a severe blow to Ren Protocol’s fame. With its token delisted from a number one alternate and belief at an all-time low, the undertaking faces an uphill battle to regain credibility.