The Reyna Project (or Reyna Limited) is an anonymity network which started running on Tron’s blockchain and issued three cryptocurrencies based on Tron known as REY, REC, and RET, It’s based on Valletta, Malta which is probably world’s most friendly country towards blockchain technology and cryptocurrencies. In the project’s own words, it’s a “comprehensive embracing of the broadcast web” in which privacy is guaranteed for all users, and censorship is impossible to enforce.
Reyna is on the move
Reyna is moving out of Tron. It will adopt Waves as its permanent platform and, as it has to happen whenever a blockchain project moves to a new home, those who own either REY, REC or RET tokens must have them swapped for coins compatible with the new platform. It has already left Tron as we write this.
The swap was announced by Anthony Kudaev (one of Reyna’s Limited founders) a couple of weeks ago in his Twitter account.
But things are not running so smoothly and it seems that something fishy is going on.
The Trontokens website has marked the three Reyna tokens as scams.
The organization is conducting further research as we write this but it reported in its website (trontokens.org) that “too much troubling things” are happening around the token Swap and the move.
It seems that swapped tokens are being sold instead of being burned, which should be the way to do things as you move the project to the new platform. The problem is that it’s illegal and nobody seems to know for sure what or why is going on.
The platform change is happening very quickly after the project’s decentralized exchange (based on Tron’s) went live, only three weeks ago (Feb. 4th). That very process wasn’t very smooth either as the technology had lots of bugs and glitches that had to be fixed before it could go live.
We ignore what’s happening with the swap. We do know that Mr. Kudaev has experience dowing cryptocurrency swaps because his project’s tokens migrated from TRC10 to TRC20 token technology only last December, on the day right after Christmas. He was also very enthusiastic about the Tron network and several of its decentralized applications (especially GOC).
The Reyna Project
The Reyna ecosystem includes several interesting apps in which privacy is the paramount value. ReynaChat is a chatting app which uses the project’s own encryption protocol to keep all the information private.
ReynaExchange is a wallet that supports any TRC20-based token and the Tron’s Foundation blockchain (or at least, it used to, but the details about the migration to Waves are still not very clear), The ReynaProtocol supports mutual and optional authentication, identity hiding, secrecy, encryption and other features in which cryptographic technology enhances the user’s privacy.
The project’s web-browsing apps are available for both Apple and Android mobile phones at the usual app stores.
We hope that the Reyna leadership will address the situation and let people in the cryptosphere know with all clarity what they’re doing and why. In a project that privileges anonymity and privacy above everything else, transparency is absolutely necessary, especially when it’s going through a milestone as important as migrating platforms.
Image courtesy of Pixabay.
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