renDGB — It’s here and here’s what you can do with it.

We Are DigiByte
6 min readMar 15, 2021


DigiByte is now available on Ethereum as an ERC-20 token called renDGB (contract address: 0xe3Cb486f3f5C639e98cCBaF57d95369375687F80). While this update is exciting there is also some confusion about just what renDGB is and what it means for DigiByte, so let’s get some clarity.

What is RenVM and how does it work?

In order to understand renDGB we need to understand what RenVM is. In short, RenVM is a trustless and permissionless custodian that holds your digital assets as they move between blockchains (for example renDGB on Ethereum or renDGB on Binance Smart Chain). RenVM allows fluid exchange, meaning it can be done at any time for any amount by anyone. RenVM is also composable- DeFi applications can use specialized adapters that offer their users cross-chain functionality. Users can then mint/burn/lend/borrow without ever interacting with renDGB or even Ethereum; smart contracts do all the work directly on the blockchain, without any human interaction or requirements.

When you send 100 DGB to RenVM you get 100 renDGB, less the RenVM minting fees (in renDGB) which go to the darknodes. DGB is minted as renDGB at a ratio of 1:1. This is to ensure that a user can always redeem 1 renDGB for 1 DGB. DGB is stored in a decentralized network of virtual nodes called REN Darknodes. RenVM handles this by generating and signing data with its ECDSA private keys using a secure multi-party computation algorithm. No party can prevent users from minting renDGB with their DGB, burning their renDGB to get back DGB, or using their renDGB in any way they want to.

Before you start using renDGB, please visit and do your research on RenVM, darknodes, and their roadmap at as well as their Telegram and Discord channels listed on the bottom of this article.

Why renDGB?

So we understand what RenVM does now let’s get into “why” we have renDGB. The objective in integrating with RenVM to create renDGB is to give DGB hodlers the ability to participate in DeFi onto the Ethereum network (and other blockchains in the future- Binance Smart Chain, etc.). renDGB will open a lot of doors for future use in DeFi as the space matures and evolves. renDGB also creates a new option for exchanging for DGB as it will be possible to swap on DEXs such as Linkswap or Uniswap as an ERC-20. In the future, it may be possible to even earn yield or interest or even loan or borrow renDGB as collateral. As you can see, there are so many opportunities and uses in DeFi and currently without renDGB, hodlers have limited access to DeFi.

What are the risks with renDGB?

When considering options for bridging DGB onto other blockchains it was important to evaluate the security and safety of the tech required to facilitate it. The REN team continues to build and evolve their partnerships and ecosystem and have been operating with increased volume, efficiency, and innovation since their inception. The ideal requirements were utilizing decentralized, secure, trustless and permissionless systems with a proven track record, top-notch team, and clearly defined technology and roadmap. When addressing these points RenVM seems like the only logical choice. While RenVM has some level of centralized control at present its aim is to decentralize as outlined on their roadmap. This is to ensure user and asset security, as well as scalability as RenVM evolves their ecosystem.

However, while renDGB is truly exciting for DigiByte, you have to consider all the risks. First and foremost, “Not your keys, not your crypto”. When minting DGB to custody on RenVM, you have the 1:1 release guarantee but as mentioned the private keys are held by RenVM. Currently, RenVM is not fully decentralized, not fully open source, and not fully audited although it does have several audits on what is public and open source. Trust in a not completely trustless system is always a risk and it is important to be aware of this.

DeFi itself brings many risks to users. Caution is recommended when interacting with smart contracts. Always do your own research: evaluate whether the code has been audited, the dev team and their track record (are they anonymous?), and the promises they make. Also, providing liquidity to some pools can lead to impermanent loss if the price of your deposited assets change. The bigger the change, the more you are exposed to impermanent loss. A good article explaining this can be found here — Impermanent Loss Explained. Please do your research on DeFi before you dive in. renDGB cannot protect the user against scams and rug pulls.

Where can we use renDGB? Welcome to Linkswap.

Linkswap has been working with REN and some DigiByte supporters to develop a UI to officially mint/burn as well as earn yield by providing liquidity to Linkswap DEX. You can find out more about Linkswap here — YFL LINKSWAP Tutorial Series Part 1.

renDGB Bridge on Linkswap

How to mint/burn renDGB and add liquidity on Linkswap:

To mint DGB to renDGB you will need: a DigiByte wallet, an ERC-20 wallet like Metamask, MyEtherWallet (MEW), or Coinbase wallet and some ETH to cover gas fees and of course some DGB to mint.

Using the renDGB Bridge:

1. Go to the Linkswap Bridges page, select the renDGB bridge and click ‘mint’ (before this step please make sure you have connected your Ethereum wallet client to Linkswap)

2. Send your DGB to the address shown (please note bridge uses uses a Segwit DGB-Address format starting with S instead of D)
3. Wait for 50 confirmations (this can take some time)
4. Minted renDGB will be sent to your connected Ethereum wallet

To redeem DGB back from renDGB you will select the ‘Release’ or ‘Burn’ option and follow similar steps.

Now what to do with your freshly minted renDGB? You can be a renDGB liquidity provider. You can provide liquidity to the renDGB/ETH pair on Linkswap to earn fees from trading volume.

Follow these steps to add liquidity:

1. Go to the Linkswap Add Liquidity page and click on “Add Liquidity”
2. Select renDGB and ETH
3. Enter the amount per asset you want to add
4. Click on “Supply”, then review the action and click “Confirm Supply”
5. Confirm the transaction in your Ethereum wallet client

After becoming a liquidity provider, you can stake your LSLPs in the reward pool to farm ~420,000 renDGB, for a period of one week! This reward pool will launch on Friday March 19th at 11:00am EST.

Steps to stake your LSLPs to earn rewards:

1. Go to the LP rewards staking page on Linkswap
2. Select the renDGB/ETH pool
3. Click “Stake” and confirm the transaction in your Ethereum client wallet
4. Start earning rewards!

Closing thoughts

We want to thank the REN Team and the YFLINK team for giving the DGB community the ability to participate in DeFi. Special thanks to JD Hadwin for helping with the article and thanks to all the DigiByte community members that support and give their time for DigiByte. This is a new beginning for DigiByte in DeFi. These are exciting times for renDGB but we can’t emphasize enough to do your research and understand all the risks before you play. Please join the Linkswap Discord and Telegram channels listed below for discussions/questions.

About DigiByte
DigiByte is more than a faster digital currency. It is an innovative blockchain that can be used for digital assets, smart contracts, decentralized applications and secure authentication.

Website | Foundation | DGBAT | Wiki | Docs | Telegram | Twitter | Reddit | GitHub

About Linkswap
LINKSWAP is a community-governed decentralized exchange (DEX) offering exclusive $LINK pairs, staking revenues from trading volume, and direct fiat-to-crypto purchases

Website | Telegram | Twitter | Discord

About Ren
Ren is an open protocol that enables the movement of value between blockchains.

Website | Docs | Telegram | Announcements | Twitter | Reddit | Github