By: Jake Pahor, Cryptography Researcher
Compiled by: Felix, PANews
Capitalizing on the transition to Solana and the expanding AI bubble, RNDR has grown 300% over the past year, and this growth may be just the beginning.
Overview
Render Network is a blockchain-based global rendering platform that provides 3D rendering solutions through a decentralized GPU network. The project connects node operators with creators, monetizes idle GPUs, and scales intensive 3D rendering workloads and applications to the cloud.
Render Network serves artists, engineers, designers, and developers, providing GPU resources for creative, scientific, and industrial projects.
The project allows for cost-effective production that may not be possible with traditional infrastructure or centralized services.
Since its inception, Render Network has rendered over 33 million frames and has been used to create a variety of works such as TV series, movies, and some of the most iconic 3D NFT series.
The RENDER token uses the Burned Minting Balance Model (BME) to enable payment transactions between creators and node operators:
Creators burn RNDR to earn Render Credits
The network mints or allocates RNDR to operators based on work completed and reputation
Token Economics
RNDR was launched in 2017 based on the Ethereum network. After community voting, it will be migrated to the Solana blockchain in 2023 and a new token "RENDER" will be launched.
The move is intended to speed up transactions, reduce transaction fees, and support projects in managing more on-chain data and transactions.
When upgrading RNDR ERC-20 tokens to RENDER SPL tokens, the exchange rate is 1:1. 1 RNDR = 1 RENDER. The exchange is still in progress. The current statistics are:
Circulating Supply: 34.7 million
Total supply: 39.9 million
Market value: $3.9 billion
FDV: $5.4 billion
Market value/FDV: 73%
According to Token Terminal data, Render Treasury currently holds approximately US$1.45 billion in on-chain assets.
The Treasury is managed by the Render Network Foundation, a non-profit organization dedicated to maintaining the Render Network protocol and growing its community.
Governance
The governance of Render Network is managed by the Render Network Proposal (RNP) system. The process of this system includes:
Preliminary Draft or Generative Draft
Submit Draft
Preliminary Proposal Voting
Render Network Team Comments
RNP Voting
implement
So far, there are more than 15 RNPs.
team
Founded in 2017 by Jules Urbach, CEO of professional rendering and computer graphics company OTOY, the Render Network has raised over $47 million through public sales and funding rounds. Investors include Multicoin Capital, Solana Ventures, and Sfermion.
Competitors
Render plays an important role in various narratives such as AI and DePIN. Its main competitors are:
Akash Network $AKT
Filecoin $FIL
Golem $GLM
IONET $IO
Nuco cloud $NCDT
OctaSpace $OCTA
Render has a significant first-mover advantage in this area.
risk
Blockchain security agency CertiK gave Render a score of 79.68, ranking it 751st among all cryptocurrencies evaluated by the firm.
Although CertiK did not conduct any code audits on Render, Render revealed that Otter Security had audited their bridge code (ETH to Solana).
Summarize
The project has been one of the best performing tokens over the past year. Upcoming Catalysts:
Transitioning to the Solana Blockchain
The Growth of the AI + DePIN Narrative
Partnerships (e.g. io.net)
Related reading: Solana DePIN project semi-annual report: the market value of related projects exceeds 10 billion, Helium Mobile attracts nearly 90,000 users
