About Render Token (RNDR)
RNDR Token is a network that uses OctaneRender for GPU rendering. OctaneRender allows for the decentralized creation, sharing, remixing, and monetization of 3D assets by leveraging blockchain technology.
The Render Network is powered by the ERC-20 standard token $RNDR. RNDR is used to pay for animation, motion graphics, and visual effects rendering jobs performed on the distributed Render Network.
In the Render Network ecosystem, users submit their work to the community when in need of rendering. The platform automatically calculates the number of RNDR tokens needed to complete the job. This data is sent as an attachment stating the details of the smart contract and broadcast on the rendering network.
RNDR Network uses a Multi-Tier Pricing (MTP) mechanism. The Multi-Tier Pricing mechanism allows users to choose which tier of arithmetic capacity they wish to use to complete their rendering jobs based on several parameters, such as speed, system configuration, security, etc. The price of arithmetic in each tier is stable but will be adjusted periodically based on GPU performance, GPU cloud rendering costs, and decentralized supply and demand data.
By leveraging blockchain technology to consolidate idle GPU resources around the world, Render Network addresses the proliferating rendering needs of the physical industry, enabling a collaborative situation between the demand side, the supply side, and the platform.
In April 2023, the Render community overwhelmingly supported the migration of the protocol to the Solana blockchain. The proposal RNP-002 received a substantial majority, with 5.9 million RNDR tokens in favor and 2.8 million tokens against it. The current price of Render token is updated and live-tracked on Binance in real-time.