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RNDR has been making headlines lately for an impressive 300% plus run over the past month, as a very promising up and coming project today we decide to dive into the RNDR tokenomics to see how they add up and if RNDR really could be the next big thing in the crypto space. In the recent days a new tokenomics model has been passed by the DAO, let’s have a look at it.

RNDR Tokenomics

RNDR New Tokenomics Model

The project’s DAO has voted 100% to adopt a new tokenomics model which they call the burn and mint equilibrium model. With this new model instead of users paying in RNDR for services rendered they will now pay in USD with the equivalent value of RNDR being burnt, continuously reducing the supply of the RNDR token.

When a user pays in USD and the equivalent value of RNDR is burnt there will be the same amount of “Render Credits” minted and issued to track the jobs.

Operators of nodes on the Render Network will be rewarded based on their availability to complete jobs and the number of jobs they complete during the network’s current epoch.

What is the use case of RNDR?

RNDR which is Renders native currency is currently needed to pay for any of the services that Render offers such as animation, motion graphics and VFX rendering done on the RNDR Network. To use the Render Network you must have RNDR tokens and must spend them, this gives RNDR a very big use case and makes it crucial for the use of the Render Network.

Creators can use Render Network to render digital visuals such as animations and motion graphics, these services require the user/customer to pay with Render Networks native token RNDR.

How many RNDR coins are there?

There is a maximum supply of 531,016,083 RNDR tokens with 299,880,426 of those RNDR tokens currently in circulation at the time of writing this. RNDR has a token price of $2.12 giving it a market cap of $638,314,422 making it the 79th largest cryptocurrency by market cap.

RNDR Tokenomics via CoinGecko

 

How were the RNDR tokens distributed?

The RNDR ICO happened between October 6th 2017 and October 12th 2017, the initial price per RNDR token was $0.25 USD and there were 4,650,922 RNDR tokens sold, during this the team raised $1.16 million.

The rest of the RNDR tokens had a planned distribution of the follow:

  • 10% to the team members and advisors (these tokens had a six month lockup period)
  • 25% to future token sales
  • 65% for the user development fund

RNDR had a private sale round during 2018 which resulted in around 3% of the 25% scheduled for token sales being sold at the same price as the ICO $0.25 USD, these tokens were instantly available to the buyers with no lockup period.

RNDR Token Distribution

 

Majority of the sales process were used for marketing, network development and RNDR phases.

The 65% of tokens allocated for the user development fund is expected to flow into the network and the demand needs to be filled, the calculations have been done and it is estimated that this 65% will be able to fill the demand needs of RNDR on the network for the next 10 years.

Does RNDR have a future?

Yes. Render Network is targeting an established, large and profitable market in the rendering and animations sector, with backers from Silicon Valley and Hollywood Render has every chance of taking off and capturing some market share with just one or two large partnerships.

Render Networks services could be used by movie studios, animators, architects and more, with just a few key partnerships Render could be generating huge amounts of profit while grabbing market share in dozens of thriving industries.

Render is in a sense tokenizing an existing business model rather than trying to create a whole new sector like a lot of cryptocurrencies are trying to do, this means that in a sense Render networks business model has been tried and tested and proved to be profitable, the different with Render is the process is now tokenized and verifiable on the blockchain.

What is RNDR?

RNDR, an ERC-20 cryptocurrency is the native token for the Render Network which is a GPU compute network that allows users to swap their RNDR tokens for additional computing power used to render their scenes. Node operators in a sense rent out their GPU computing power to users to complete tasks such as animations, scene rendering, VFX rendering and more, in return the provider of the computational power earns RNDR tokens.

Render Network has created a peer to peer network which allows individuals with excess processing power to connect with individuals in need of processing power, by doing this individuals and businesses can access computational power for a fraction of the price they previously could.

Due to the digital nature of this business model and the use cases of rendering graphics and animations many speculate that the Render Network could play a crucial part in the metaverse and rendering all the graphics needed for such networks.

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