Render Network completes Solana upgrade, introduces new Token economic model

Render Network recently announced the successful completion of its upgrade to Solana, marking the official migration of the leading company in the decentralized rendering field from Polygon to the Solana ecosystem. This migration involves the implementation of several community-approved proposals, which include not only the switch of the underlying blockchain but also the issuance of the new Token RENDER and the introduction of the Burn and Mint Equilibrium (BME) token economic model, which will have a profound impact on the entire Render ecosystem.

From recent market performance, Render's new moves have received positive feedback. Its Token RNDR price once broke through $4, setting a new high in nearly 21 months.

Core Content of the Upgrade

This upgrade covers several key aspects:

1. Introduce the BME model

The BME model is the core of this upgrade. This model establishes a balanced emission plan, aiming to proportionally reward the main stakeholders of the network based on their contributions, including node operators, artists, liquidity providers, and computing clients. Through the new model, RENDER Token is expected to achieve long-term supply-demand balance and even deflation.

2. Migrate to the Solana ecosystem

To better implement the BME proposal and meet the needs of network development, Render has decided to migrate from Polygon to Solana. Community members believe that Solana is faster, cheaper, and better able to handle the future vision of the Render network. This migration brings two significant changes:

• Launching new Token RENDER to replace RNDR
• Introduce a new voting system compatible with Solana

3. Ecological Resource Redistribution

The new BME model provides an incentive mechanism for all participants in the ecosystem. Creators can receive a certain percentage of RENDER Token rewards; node operators will be rewarded for performing work; liquidity providers can earn rewards for staking tokens; regular Token holders who participate early in the migration can also receive incentives.

Impact on the Render Ecosystem

1. A more flexible and sustainable Token economic model

The BME model will enable the RENDER Token to gain more value support and may potentially enter a deflationary mechanism. This model aligns more closely with the long-term goal of establishing tokenized computing standards on the network and can significantly increase token value under specific conditions.

2. High-speed scalable network infrastructure

Migrating to Solana will provide strong support for Render's business expansion. Solana outperforms Polygon in terms of transaction performance and cost, better meeting Render's needs for high throughput, low latency, and low cost.

3. Potential for development in multiple fields

Render, as a benchmark in the DePIN track within the Web3 space, has demonstrated tremendous potential against the backdrop of the AI application boom. At the same time, its exploration in the field of digital rights management (DRM) has also opened up new directions for future development.

Future Outlook

Render's recent business has shown explosive growth, with an average of over 120,000 rendering tasks per month and a continuous increase. This growth is attributed to its partnership with Apple and collaborations with AI projects such as Stable Diffusion.

In addition to this upgrade, Render is also actively promoting other innovations, such as the introduction of the FEDML cloud platform to attract AI community demands and adding support for new renderers. These initiatives help Render maintain its leading position in rapidly evolving fields such as AI, AR, and VR.

With the advancement of AI commercialization, the demand for distributed GPU computing networks will continue to grow. Render Network is fully prepared to lead the decentralized rendering revolution through a series of upgrades and innovations.