اقتصاد توکنی Render (RENDER)

The Render Network is a decentralized peer-to-peer GPU compute marketplace that connects users requiring GPU services with idle GPU owners. Its token economics have undergone significant evolution, most notably with the migration from Ethereum (RNDR) to Solana (RENDER) and the implementation of the Burn-Mint Equilibrium (BME) model.

Issuance Mechanism

Render Network utilizes a Burn-Mint Equilibrium (BME) model to manage its token supply and economic stability. This dual-process mechanism functions as follows:

• Burning: When creators or AI clients request work on the network, they pay in RENDER tokens. The network deducts a 5.00% transaction fee, and the remaining equivalent USD value of the deposit is burned.
• Minting: Simultaneously, the protocol mints new tokens to reward node operators for fulfilling compute requests. This ensures that while tokens are removed from circulation through usage, new tokens are issued to incentivize infrastructure providers.
• Supply Caps: The initial maximum supply of RNDR was approximately 536.87 million. Following the Solana migration and BME implementation, the maximum supply was increased to 644.25 million. The additional 107.38 million tokens are scheduled to be issued solely on Solana over a ten-year period.

Allocation Mechanism

The allocation of tokens has shifted from the legacy RNDR model to the current RENDER emission schedule.

Legacy RNDR Allocation

Current RENDER Emission Schedule (Year 2 - 2025)

For the second year of the Solana-based emissions, approximately 5.90 million RENDER are scheduled to be minted and allocated as follows:

Usage and Incentive Mechanism

The RENDER token serves as the primary medium of exchange and incentive within the ecosystem:

• Payment and Access: Creators must purchase an OctaneRender Studio + subscription to access the network. Jobs are priced in USD, but requesters deposit the equivalent value in RENDER.
• Node Operator Rewards: Providers are compensated in RENDER for completing rendering and AI computing tasks. Rewards are distributed based on an epoch-based system (typically weekly) and depend on factors like GPU model, bandwidth, and uptime.
• Creator Rebates: To encourage network usage, a portion of emissions is reserved for creators, providing them with rebates on the RENDER expended for services.
• Governance: Tokenholders can participate in off-chain governance via Render Network Improvement Proposals (RNPs). Voting occurs on platforms like Snapshot and Nation, requiring a 25% participation rate of the total supply to pass.

Locking and Unlocking Mechanisms

The network employs specific mechanisms for token transitions and historical vesting:

• Migration Lock-and-Mint: When bridging RNDR from Ethereum to Solana, the protocol uses a lock-and-mint mechanism. RNDR is locked on the origin chain to mint RENDER on Solana. This swap is a one-way upgrade and cannot be reversed.
• Historical Lock-ups: Tokens allocated to team members and advisors during the initial stages were subject to a six-month lock-up period.
• Foundation Accrual: The Render Network Foundation accrued approximately 4.57 million RENDER (50% of first-year emissions) and plans to accrue 2.90 million RENDER (50% of second-year emissions) to fund operations, R&D, and grants.

Unlocking Time

While specific individual vesting dates for all private holders are not fully detailed in the provided data, the network follows a transparent 10-year emission schedule for the new supply.

• First Year (2024): ~9.13 million RENDER were planned for minting.
• Second Year (2025): ~5.90 million RENDER are scheduled for minting.
• Long-term: The remaining portion of the 107.38 million new tokens will continue to be released according to the predefined declining schedule over the next decade.

Information regarding specific locking mechanisms for general tokenholders beyond the migration process was not available.