1 year ago
Render Network announced that it has received governance support to instrumentality a pain and mint equilibrium (BME) mechanics for its autochthonal token — RNDR.
RNDR surged implicit 17% to go the 4th largest gainer implicit the past 24 hours pursuing the news. The token is trading astatine $1.67 and its marketplace headdress stands astatine astir $424 million, arsenic of property time.
RNDR has experienced a sustained uptrend, signaling implicit 82% summation successful the past 7 days and a whopping 302% successful the 30-day clip frame, according to CryptoSlate data.
Render’s BME mechanics starring the uptrend
Render Network is simply a decentralized GPU supplier that connects 3D artists with node operators who person idle GPUs required to process the renders.
The Render DAO had proposed to marque RNDR a outgo denomination betwixt artists and operators by implementing a pain and mint equilibrium (BME).
As per the proposal, the creator would pain the required magnitude of RNDR successful speech for non-fungible credits which would beryllium distributed to the node operators.
The superior extremity of the BME mechanics is to marque RNDR a commodity plus that could go deflationary successful the agelong term.
Following governance deliberation and voting, the Render DAO unanimously approved the implementation of a pain and mint mechanics for the RNDR token.
In the meantime, the protocol outlined that it would enactment to make a balanced emanation docket that volition duly reward node operators, artists, and liquidity providers.
The station Render token up 17% aft DAO approves pain & mint mechanism appeared archetypal connected CryptoSlate.
English (US) 