Ren, formerly known as Republic Protocol, has developed a decentralized open-source dark pool exchange protocol facilitating atomic swaps between cryptocurrency pairs across the Bitcoin and Ethereum blockchains. Trades are placed on a hidden order book and are matched through an engine built on a multi-party computation protocol. This provides order execution without exposing market sensitive information such as price and volume at a certain position, which would provide an advantage to other traders.
Ren is owned by Alameda Research, a trading firm which collapsed in November 2022, and announced in April 2023 that it was made to transfer all of its assets to FTX debtors, a related party to Alameda.