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Who issued RENDER?
The RNDR Network issued the RNDR (RNDR) token, an ERC-20 utility token used for transactions and governance within the decentralized network enabling 3D rendering and computationally intensive tasks.
Dec 05, 2024 at 10:17 am
Who Issued RENDER?
Origin and Issuance of RENDER
The RENDER (RNDR) token is an ERC-20 utility token issued by the RNDR Network, a decentralized global network that enables artists to create and render 3D and other computationally intensive tasks. The RNDR Network was founded by Jules Urbach, Brendan Scarpelli, and David Luck in 2017.
Token Allocation and Distribution
The initial RNDR token supply was 500 million, with the following distribution:
- Token Sale (40%): 200 million RNDR tokens were sold through a token sale.
- Team (25%): 125 million RNDR tokens were allocated to the RNDR Network team.
- Foundation (20%): 100 million RNDR tokens were assigned to the RNDR Foundation, a non-profit organization supporting the network.
- Ecosystem and Partnerships (15%): 75 million RNDR tokens were reserved for partnerships and ecosystem development.
Purpose and Utility of RNDR
RNDR is designed to facilitate payments and transactions within the RNDR Network. It allows artists and rendering providers (node operators) to participate in the network's decentralized rendering marketplace. The token is used for the following purposes:
- Payment for Rendering Services: Artists use RNDR to pay rendering providers for computing resources used to render their 3D models and other assets.
- Node Operator Staking: Rendering providers stake RNDR tokens to participate in the network as node operators and earn rewards for providing rendering services.
- Governance: RNDR token holders have voting rights and can participate in the governance of the RNDR Network by proposing and voting on network upgrades and improvements.
RNDR's Value Proposition
The RNDR Network and its associated RNDR token offer several benefits for artists, rendering providers, and the broader blockchain and creative industries:
- Decentralization: The RNDR Network is decentralized, eliminating the need for intermediaries and reducing transaction costs.
- Scalability: The RNDR Network is designed to handle the high computational demands of rendering, enabling artists to scale their production capabilities.
- Cost-Effectiveness: The use of RNDR tokens for payment allows for transparent and efficient transactions.
- Community-Driven: The RNDR Network relies on community support and collaboration, encouraging innovation and growth.
- Support for Artists: RNDR empowers artists by providing them with access to affordable and high-quality rendering resources.
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