Render Network Reveals Token Allocation and Unlocking Updates

02/15/2023 02:02 • Metaverse Matters • 176 views

It is reported that Render Network, a decentralized 3D rendering solution provider, announced the allocation and unlocking of token RNDR. Render Network said that when the RNP-001 proposal was put forward last year, the balance of the treasury wallet was 257 million RNDRs, of which 107 million should be distributed to partners, and about 42 million were still in custody for subsequent distribution. Of the 42 million RNDRs to be distributed, about 12.6 million still need to be unlocked regularly in the first six months of 2023, 15.1 million will be attributed periodically thereafter, and the remaining 14.3 million have been attributed, managed and can be redeemed by the parties entitled to receive the distribution.

Render Network will regularly unlock 12.6 million RNDRs in the first half of this year

Interpret the above information:

Render Network, a decentralized 3D rendering solution provider, has recently announced the allocation and unlocking of their RNDR token. It was revealed that the company’s treasury wallet initially held a balance of 257 million RNDR in which 107 million were designated for distribution to partners. Currently, about 42 million RNDR is still in the custody for subsequent distribution.

The team disclosed the upcoming distribution plan, which includes the regular unlocking of 12.6 million RNDR in the first six months of 2023, while 15.1 million RNDR will be attributed periodically after that date. On the other hand, the remaining 14.3 million RNDR has already been attributed, managed, and can now be redeemed by the entitled parties.

The allocation and unlocking of the RNDR token is a crucial step for Render Network’s efforts in the 3D rendering market. As a decentralized solution provider, the company aims to improve the current 3D rendering pipeline by introducing a trustless and cost-efficient process that benefits artists, animators, and other industry players. The RNDR token serves as a utility token, facilitating the exchange of rendering services within the network.

Render Network has been using blockchain technology to solve existing issues such as centralized control, high costs, and scalability challenges within the 3D rendering process. Recently, the company has partnered with Polygon (formerly Matic), a protocol for building and connecting Ethereum-compatible blockchain networks aiming to provide faster and cheaper transactions.

The RNDR token’s allocation and unlocking updates are significant developments for the Render Network, showcasing the company’s transparency and commitment to its community. It also represents Render Network’s strategic plan to continuously innovate and foster growth within the 3D rendering industry.

In conclusion, Render Network’s disclosure of its token allocation and unlocking plan for RNDR is a positive step for the company, assisting investors to understand their investment and the road ahead. This is an excellent indication that Render Network is continuously committed to its community, showing its efforts in decentralization and also positive development for the 3D rendering industry.

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