RNDR is an Ethereum token that powers Render Network, a protocol that enables distributed graphics processing. RNDR is used by artists on the Render Network to exchange GPU compute power from GPU providers (node operators). ^[1][2][3]

Tokenomics

The initial coin offering (ICO) for RNDR took place from 6 October to 12 October 2017, followed by a private sale from January 2018 to May 2018. During that period, a total of 4,650,922 RNDR Tokens were sold at a price of $0.25 per token. RNDR’s total supply is capped at 536,870,912 tokens. During the private sale period, early adopters were onboarded onto the RNDR Beta Testnet, where beta node operators and artists worked collaboratively with the RNDR team in building and testing the network, up until its public launch on April 27th, 2020. ^[4][5][6]

25% of the RNDR tokens were sold to the public, 10% were allocated to the RNDR Reserve, and the remaining 65% are currently held in escrow to help modulate the network’s supply and demand flow. ^[5]

The Genesis mainnet release took place on 24 June 2019, when the project was moved from the Ropsten testnet to the Ethereum mainnet. The team then announced a purchase plan of 4.5 million RNDR Tokens on the Probit exchange in March 2020, taking advantage of market conditions at the time. The final product was available in April 2020. ^[4]

The Render Network also introduced RNDR Credits, which let Creators purchase rendering power on the network using PayPal and Stripe. These Credits are non-exchangeable and only usable on the network.^[5]

Utility

The Render network’s RNDR Token is an ERC-20-compatible utility token used to pay for animation, motion graphics, and visual effects (VFX) rendering on the distributed RNDR Network. Under the protocol, anyone with a contemporary GPU may donate rendering power in exchange for tokens. ^[5]

By purchasing and storing Render tokens, users can exchange the tokens on the network for various rendering and streaming services. During this exchange, the network will send a request for an RNDR smart contract to enter a transaction with both parties - the person or server processing the render/streaming and the person who requests the rendering services. The cost of the job will be calculated and determined in Render tokens. The smart contract will then transfer funds across accounts once the allotted render job is complete. Afterward, users can withdraw their Render Tokens into Ethereum and convert to fiat currency voluntarily. ^[6]