Render (RENDER) 토크노믹스

Overview

Render Network’s token, initially launched as RNDR on Ethereum (ERC-20) in 2019, has evolved to support Polygon (MRC-20) and migrated to Solana as SPL RENDER in November 2023. The token economics of Render are designed to facilitate a decentralized, peer-to-peer GPU compute marketplace, incentivizing both supply (GPU providers) and demand (clients).

1. Issuance Mechanism

• Initial Supply:

  • RNDR launched with a proposed supply of ~2.15 billion tokens on Ethereum.
  • A major burn event in August 2020 reduced this to ~536.87 million.
  • The current max token supply is approximately 644.25 million, reflecting expansions and emissions as per RNP-001.

• Bridge and Multichain Expansion:

  • RNDR can be bridged to Polygon and Solana via lock/mint and burn/unlock mechanisms.
  • Swapping RNDR on Ethereum to RENDER on Solana (one-way) locks the origin token on Ethereum and mints the destination token on Solana.
  • Only new emissions on Solana are distributed to the Render Network Foundation for network incentives and development.

2. Allocation Mechanism

Notes:

• Actual holdings have changed over time due to burns, bridging, and ongoing emissions.
• Full lists of holders are available for each chain (Ethereum, Polygon, Solana).

3. Usage & Incentive Mechanism

• Primary Uses:

  • Payment for GPU compute rendering and machine learning inference services.
  • Staking and governance: RENDER tokenholders can submit and vote on Render Network Improvement Proposals (RNPs).
  • GPU providers receive RNDR/RENDER tokens as payment for fulfilling compute jobs.

• Incentive Mechanisms:

  • Network emission rewards are issued to incentivize node operators, developers, and community contributors.
  • Regular burn events are executed to control supply, tied to network usage and bridging activities.

• Decentralization:

  • Community and user incentives constitute a large share of allocations, aligning network growth with decentralized participation.

4. Locking & Unlock Mechanism

Bridging Example:

• Bridging RNDR between Ethereum and Solana (via Wormhole) or Polygon (via Polygon Portal) operates as:
  • Tokens locked on origin chain → equivalent amount minted/unlocked on destination chain (see diagram: “Lock on Chain A – Unlock on Chain B”).

Team Allocation:

• Subject to an initial 6-month lockup post token generation.
• Network development fund allocations are subject to dynamic vesting and ongoing management by the Render Network Foundation.

Foundation Emissions on Solana:

• Render Network Foundation receives 50% of the tokens emitted each year on Solana, with intended uses for core team expansion and grant programs.
• Example: ~4.57 million SPL RENDER accrued by Dec. 24, 2024 (year one emissions).

Unlocking Schedule Table

There are no signals of continuous inflation or additional supply increases apart from those outlined in RNPs and bridged emissions.

5. Summary Table

6. Additional Points

• Governance: Tokenholders have direct input in protocol upgrades via RNPs.
• Legal/Utility: RNDR/RENDER confers no claim over the assets or profits of OTOY or the Render Foundation.
• Bridging Constraints: Swap from ERC-20 RNDR to SPL RENDER is one-way (not reversible), reflecting migration toward Solana.

7. References

• More details about emissions, unlocks, and allocations can be found in Render’s official governance forums, GitHub RNPs, and bridging documentation.

This comprehensive structure ensures that Render’s token economics are designed for permissionless utility, robust incentivization, and network sustainability—with clear mechanisms for allocation, locking, unlocking, and continual adaptation via governance.