Render Token (RNDR)

Render Token (RNDR)

Most recent update: [December 06, 2023] 

What is RNDR? 

Render Token (RNDR), an ERC-20 token, is an innovative digital currency that stands at the crossroads of blockchain technology and the realm of digital artistry. It functions as the cornerstone of the Render Network, a ground-breaking GPU rendering platform developed by the cloud graphics pioneer, Otoy Inc. This platform revolutionizes the production and distribution of 3D digital content by harnessing blockchain’s power to link creators with a pool of GPU resources. Within this ecosystem, RNDR tokens facilitate transactions, allowing users to either obtain rendering services or contribute their GPU capabilities in return for tokens. This approach democratizes high-quality rendering, offering a more accessible and economical solution for creators who require extensive computational power.

RNDR’s unique appeal steams from its capacity to simplify and decentralize the rendering workflow. Traditionally, generating high-quality digital content demands significant computational power, often involving hefty investments in either physical hardware or cloud-based services. RNDR tackles this challenge head-on by providing a shared network of GPU resources, substantially lowering the cost and time involved in rendering processes. This model not only benefits content creators by offering affordable and efficient rendering solutions but also enables GPU owners to monetize their unused computing power. Thus, RNDR transcends its role as a mere cryptocurrency, embodying a pivotal element in the evolving landscape of collaborative digital content production.

Who is behind RNDR? 

RNDR is spearheaded by Otoy Inc., a renowned leader in advanced computer graphics, virtual reality, and innovative cloud-rendering solutions. The company is under the guidance of its founder, Jules Urbach, a trailblazer in digital graphics technology. Otoy, under Urbach’s direction, has been instrumental in pushing the boundaries of rendering technology, securing its position as a pivotal entity in the realm of digital content development.

At the core of RNDR’s development is Otoy’s team, which is a unique amalgamation of experts from the blockchain sphere and digital media industry. Their collective expertise ensures the effective fusion of blockchain’s decentralized attributes with state-of-the-art rendering technologies. Beyond technical progress, Otoy’s team is also deeply involved in forging strategic alliances and partnerships across the tech and entertainment landscapes. These efforts are crucial in enhancing RNDR’s applicability and keeping it at the forefront of the rapidly evolving sectors of digital content generation and blockchain innovation.

How does it work? 

RNDR functions through an innovative approach, utilizing the power of blockchain to redefine digital rendering processes. Essentially, the Render Network taps into the collective unused GPU from individuals worldwide, creating a decentralized pool of resources for digital rendering. Creators in need of rendering services submit their task to the network, along with a predetermined amount of RNDR tokens, which are temporarily held in escrow by the system.

The network’s sophisticated algorithm then allocates these rendering tasks to participants who have available GPU capacity. In exchange for their GPU time, these participants are rewarded with RNDR tokens. This system not only democratizes access to high-quality rendering for content creators but also provides an opportunity for GPU owners to earn by offering their unused computing power. Upon the completion of a rendering job, the RNDR tokens are released from escrow and distributed to the contributing GPU providers, while the rendered output is securely delivered to the original creator.

The backbone of this operation is blockchain technology, which brings transparency, security, and efficiency to the process. The decentralized nature of blockchain ensures a trustless transaction environment, while its immutable ledger guarantees the integrity of each transaction. Furthermore, smart contracts automate and streamline the entire process, enhancing its efficiency and reducing the potential fraud. RNDR thus leverages the combined strength of blockchain and distributed computing to bring about a transformative change in the rendering industry, making it more equitable, effective, and accessible for all involved.

The RNDR Token and Tokenomics 

RNDR tokens are currently available for sale on multiple exchanges worldwide. The maximum supply is capped at 531,025,798 tokens, and as of November 30^th 2023, the market cap for RNDR amounted to approximately US$1,289,349,140. The circulating supply of RNDR tokens is around 374,243,312.

The initial distribution for RNDR is broken down as follows:

• Network Development: 40%
• Network Growth: 25%
• Network Operations: 20%
• Network Reserve: 10%
• Network Genesis: 5%

The RNDR token is purported to serve as a utility token to pay for transactions and services on the network and to also be used a liquidity mechanism for value transfers.

Security 

The security architecture of RNDR is robust, rooted in its decentralized framework and the solid foundation provided by blockchain technology. This decentralization is key to mitigating risks common in central a system such as single points of failures. The use of blockchain ensures that every transaction on the network is recorded in an immutable and transparent manner, crucial for the integrity of rendering transactions. The incorporation of smart contracts automates and secures transactions, minimizing the risk of fraud and manual errors. Advanced cryptographic methods, including strong encryption, are utilized to protect data during transmission and maintain user confidentiality. The network’s security is further reinforced by the vigilance of a community, which aids in quickly spotting and addressing potential security issues.

Regular assessment and updates by external security specialists keep the network resilient against new and emerging cyber threats, ensuring that RNDR remains a secure and reliable platform for digital rendering and token transactions.

Drawbacks and risks 

While RNDR offers an innovative approach to digital rendering via blockchain, it’s accompanied by several drawbacks and risks. The network’s efficiency is heavily dependent on external GPU providers; issues such as technical failures or reduced participation could affect rendering capabilities.

The success of RNDR also hinges on its adoption within the digital content creation community; slow growth could limit the network’s development and the token’s utility. Furthermore, the competitive landscape of digital rendering and blockchain is rapidly evolving, necessitating continuous innovation from RNDR to stay relevant.

Token distribution is another potential drawback. As described on the Render Network’s website itself, up to 65% of the total supply of RNDR tokens is locked in escrow. Not only could this imply potential market volatility in the future, but it would also, per the point above, lead to a concentration of power among few entities in the Render Network ecosystem

Finally, as common to many ERC-20 tokens and more broadly Proof-of-Stake networks, their blockchain architecture dictates that those with the most staked tokens will have the most sway in the network’s functioning. This effectively places richer wallets in a position of power. Thus, if one person or a group of entities can acquire 50% of the network’s voting power, they would be able to control it. 

Due Diligence  

Before listing RNDR on the VirgoCX Platform, VirgoCX performed due diligence on RNDR and determined that RNDR is unlikely to be a security or derivative under Canadian securities legislation. VirgoCX’s analysis includes reviewing publicly available information on the following:  

• The creation, governance, and location of RNDR and/or its primary development team; 
• The supply, demand, maturity and liquidity of RNDR; and 
• Legal and regulatory risks associated with RNDR.  

Statutory Rights under Securities Legislation 

VirgoCX is offering Crypto Contracts on crypto assets in reliance on a prospectus exemption contained in the exemptive relief decision Re VirgoCX Inc. dated May 30th 2022 (the Decision). Please be aware that the statutory rights in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under the securities legislation of each other province and territory in Canada do not apply in respect of the Crypto Fact Sheet to the extent a Crypto Contract is distributed under the prospectus relief in the Decision. 

Further Reading 

To learn more about the technology behind RNDR, check out these in-depth resources here: 

• The official site of RNDR
• Coinmarketcap’s overview of RNDR
• Coingecko’s tokenomics overview of RNDR
• Coinbase’s overview of RNDR, along with the relevant news and blogs related to RNDR.