Render (RENDER)
RNDR is an Ethereum-based token that powers the Render Network, a platform designed for distributed graphics processing. This token is utilized by artists on the Render Network to facilitate the exchange of GPU compute power provided by GPU providers, also known as node operators.
Tokenomics
The RNDR token had its initial coin offering (ICO) from October 6 to October 12, 2017, followed by a private sale from January 2018 to May 2018. During this period, 4,650,922 RNDR tokens were sold. The total supply of RNDR tokens is capped at 536,870,912. Early adopters participated in the RNDR Beta Testnet, collaborating with the RNDR team to develop and test the network until its public launch on April 27, 2020.
| Ticker | RENDER |
| Category | Artificial Intelligence (AI) |
| Website | http://renderfoundation.com |
| @rendernetwork | |
| Telegram | rendernetwork |
| https://www.reddit.com/r/Rendernetwork | |
| Contract Addresses | |
|---|---|
| ethereum | 0x6d...24 Copied! |
| polygon-pos | 0x61...91Copied! |
| solana | rn...ofCopied! |
Of the total RNDR tokens, 25% were sold to the public, 10% were allocated to the RNDR Reserve, and the remaining 65% are held in escrow to manage the network's supply and demand. The Genesis mainnet was released on June 24, 2019, transitioning the project from the Ropsten testnet to the Ethereum mainnet. In March 2020, the team announced a plan to purchase 4.5 million RNDR tokens on the Probit exchange. The final product became available in April 2020. Additionally, Render Network introduced RNDR Credits for purchasing rendering power on the platform, which can be bought via PayPal and Stripe. These credits are non-exchangeable and exclusively used on the network.
Utility
The RNDR token serves as an ERC-20-compatible utility token on the Render Network. It is used to pay for services such as animation, motion graphics, and visual effects (VFX) rendering. Individuals with modern GPUs can contribute rendering power in exchange for RNDR tokens. Users can purchase and store RNDR tokens, which can be exchanged for rendering and streaming services on the network. During this process, an RNDR smart contract facilitates transactions between the rendering provider and the requester. Once the rendering job is completed, the smart contract transfers the determined cost in RNDR tokens between the accounts. Users have the option to convert their RNDR tokens into Ethereum and subsequently into fiat currency if desired.