The RENDER SPL Token

Information about the RENDER SPL token

In RNP-001, the Render Network community approved the transition to the Burn Mint Equilibrium (BME) where artists burn RENDER tokens in exchange for an equivalent USD valued Render Credits, that are non-fungible work credits. For nodes fulfilling the GPU work, RENDER tokens are distributed as network emissions, which are outlined in RNP-006 and updated in RNP-013. The Burn Mint Equilibrium has been implemented on the Solana Blockchain, with the legacy ERC-20 RNDR token being upgraded to RENDER SPL tokens in the operation of the BME. Complete upgrade information for the RENDER SPL token can be found here. Using RENDER Tokens GPU computing work on the Render Network is done by burning RENDER SPL Tokens in exchange for an equivalent amount of Render Credits. These Render Credits provide the corresponding USD value of the burned RENDER Tokens and are used to submit work the network. Once artists burn the required amount of base token (RENDER), a set of non-transferrable, non-fungible Coupon Tokens (Render Credits) are issued to requesters to complete jobs.

Example: A Render Network creator burns $5 worth of RENDER to produce 5 Render Credits, which are non-fungible and non-transferrable