Tokenómica de Render (RENDER)

Render Network’s token economics have evolved significantly, especially with the migration from Ethereum (ERC-20 RNDR) to Solana (SPL RENDER). Below is a comprehensive breakdown of the token’s issuance, allocation, usage, incentives, locking, and unlocking mechanisms, with tables and detailed explanations.

Issuance Mechanism

• Initial Supply: RNDR was launched on Ethereum in 2017 with a proposed max supply of ~2.15 billion. A major burn event in August 2020 reduced this to ~536.87 million. Later, with the migration to Solana, new SPL RENDER tokens were minted.
• Bridging and Minting: When bridging RNDR from Ethereum to Solana (via Wormhole) or Polygon, the origin tokens are locked, and new tokens are minted on the destination chain. The swap from RNDR (ETH) to RENDER (SOL) is one-way and at a 1:1 ratio.
• Burn-Mint Equilibrium (BME): On Solana, the BME model is used: artists burn RENDER tokens to receive non-fungible Render Credits (work credits), and new RENDER tokens are emitted as rewards to node operators and creators.

Allocation Mechanism

Legacy RNDR (ERC-20) Allocation

SPL RENDER (Solana) Emissions (Year 2 Example)

Usage and Incentive Mechanism

• Primary Use: RENDER is used to pay for GPU compute/rendering jobs. Artists burn RENDER to receive Render Credits, which are then used to submit jobs.
• Node Operator Incentives: Node operators earn RENDER for fulfilling jobs, distributed as network emissions.
• Creator Rebates: Creators receive rebates in RENDER for tokens spent on rendering services.
• Upgrade Incentives: Users who upgraded from RNDR to RENDER between Oct 2023–Oct 2024 received additional rewards and gas fee rebates.
• Governance: RENDER holders can propose and vote on network changes via Render Network Improvement Proposals (RNPs).

Locking Mechanism

• Team & Advisors: Subject to a 6-month lock-up post-allocation.
• Bridging: When bridging RNDR to RENDER, the origin tokens are locked to mint destination tokens. The process is one-way and irreversible.
• Emission Schedules: Foundation and user rewards are distributed according to emission schedules, with tokens held in custody or escrow until released.

Unlocking Time

• Team & Advisors: 6-month lock-up after allocation.
• Upgrade Incentives: Available for users upgrading tokens from Oct 2023 to Oct 2024.
• Emission Schedules: Foundation and user rewards are released monthly or annually as per the emission plan.
• No Explicit Vesting for All Allocations: Not all allocations have explicit vesting schedules; some are distributed as needed for network growth.

Additional Notes

• Token Supply (as of Dec 24, 2024): ~945.54 million across all networks (Ethereum, Polygon, Solana).
• Top Holder Concentration: On Ethereum, the top 10 addresses hold ~79.55% of RNDR; on Solana, the top 10 hold ~57.22% of RENDER.
• Burn/Buyback: The network has conducted token burns and buybacks to manage supply and incentivize participation.

Summary Table: Key Token Economics

References for Further Reading

• Render Network Upgrade Portal FAQ
• RENDER SPL Token Model
• Token Metrics Summary
• RNP-001: Burn Mint Equilibrium
• RNP-006: Emissions

This comprehensive overview reflects the latest available data and governance-approved mechanisms as of October 2024. For the most granular and up-to-date details, always consult the official Render Network documentation and governance proposals.