March 10th, 2023 at 10:28 am UTC · 3 min read
While Ethereum is set for a new milestone with its Shanghai Upgrade, RenQ Finance is gearing up to give more profits to investors. It’s worth noting that when Ethereum switched from Proof of Work to Proof of Stake last year, its price decreased rather than increased.
The Shanghai upgrade will allow validators to withdraw the 16 million ETH they’ve staked in the network to enhance its security. This improvement will lay the groundwork for the Surge upgrade, which will significantly increase the blockchain’s maximum TPS (transactions per second) capability.
With another upgrade around the corner, Experts are not confident that it will lead to a higher profit since Ethereum has shown no signs of bullish momentum in recent times; ETH has been ranging within the support and the market sentiment is not convincing. Not to forget that ETH suffered greatly from the 2022 bear market; losing more than 50% of its highest value in the process, Ether cannot guarantee better profits.
However, Experts believe that RenQ Finance is a better option for higher profits than Ethereum regardless of the aftermath of its Shanghai Upgrade.
RenQ Finance has gained momentum with early profit gains during its presale, generating over $2 million in just two phases. As more presale stages remain, investors anticipate even greater profits.
Compared to Ethereum’s platform, which has been criticized for its high gas fees, slow transaction speed, and limited TPS capacity of less than 20, RenQ Finance offers a superior, faster, and more affordable platform.
RenQ Finance (RENQ) is a cryptocurrency platform that aims to create new asset classes derived from blockchain-based assets. The platform enables investors to achieve superior portfolio risk management and open up new speculation avenues through financial products such as derivatives and margin trades.
Renq’s decentralized protocols eliminate the need for a regulated central clearing house, provide global and equal access, and grant users permanent control over their funds. The platform is a part of the DeFi (decentralized finance) ecosystem, which is distinguished from centralized crypto exchanges (CEXs) by their strict adherence to autonomous smart contracts.
Unlike CEXs, DeFi platforms cannot act unilaterally with people’s funds, providing users with a diverse and inclusive environment in which they retain complete control over their assets. Renq utilizes a hybrid infrastructure model, a combination of on-chain and off-chain, to offer institutional, liquid, and slippage-free trading to the DeFi community.
The platform’s aggregation protocol obtains liquidity from a variety of exchanges and can distribute a single trade transaction across multiple DEXs to obtain the most competitive prices. Renq offers an order book that significantly reduces the spread compared to AMM models and high leverage of up to 100x for long or short trades.
Additionally, Renq provides users with a governance portal to add new markets or propose other protocol changes. The platform is cross-chain compatible, which means it allows interoperability between two relatively autonomous blockchains. Renq doesn’t store any user assets, and the platform offers 2FA security options for users to keep their Keys and Funds secure.
In conclusion, RenQ Finance is a promising platform that combines the advantages of both DeFi and CEXs through its hybrid infrastructure model. Renq offers users institutional, liquid, and slippage-free trading comparable to that of conventional centralized perpetual exchanges while maintaining the user’s control over their financial resources. The platform’s cross-chain compatibility and governance portal add further value to the DeFi ecosystem, making it a platform to watch in the coming years.
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