Render Network Foundation Distributes: RENDER Upgrade Rewards, Compute Client Rewards, and Burn Mint Equilibrium Emissions
This week, the Render Network Foundation sent out on-chain rewards and payments to a wide range of network users, including: RENDER Upgrade Rewards, Compute Client Rewards, RENDER Upgrade Gas Fee Reimbursements, and Burn-Mint-Equilibrium (BME) Emissions.
RENDER Upgrade Rewards
November and December payments for users that upgraded from RNDR to RENDER with the official RENDER Upgrade Portal were released earlier in the week.
Every epoch (roughly 30 days) the total amount of RENDER upgraded will split a pool of 95,071 RENDER, split on a points system that can be found on RNP-006, which was passed by the community.
In monthly intervals RENDER tokens will be distributed pro rata, based on the points allocated to a wallet as a proportion of total points allocated to date.
Example: If 10,000,000 RNDR have been upgraded in month one, a wallet holder of 100,000 RENDER will receive 100,000 x 5 points = 500,000 points. 500,000 points divided by 50 million total points x 95,071 RENDER = 950.71 RENDER paid to that wallet at the end of month one. In month two, when more RNDR have been upgraded, the total points allocated will be higher and this wallet will receive a smaller proportion, and so on. This will go on for 12 months.
Note for clarity: the Foundation will upgrade RNDR to RENDER in order to fund upgrade incentives until the BME model is launched, and will opt out of incentives.
Just over 1800 wallets shared this reward for the November and December pools with the following RENDER balances upgraded.
- RENDER upgraded as of 11/26: 18,896,068
- RENDER upgraded as of 12/19: 22,068,767
The dates of the epochs are as follows:
Epoch 1: Nov 1–26th, 2023: 94872.36 RENDER distributed between 18474635.47 RENDER that had been upgraded, all in the 5 point tier. Calculate your rewards by multiplying your upgraded total by ~0.0051.
Epoch 2: Nov 26th — Dec 19th: 94864.22 RENDER distributed between 20801781.6 RENDER that had been upgraded, all in the 5 point tier. Calculate your rewards by multiplying your upgraded total by ~0.0045.
Epoch 3: December 19- January 18, 2024
Epoch 4: January 18- February 17
Epoch 5: Feb 17-March 18, 2024
Epoch 6: March 18- April 17, 2024
Epoch 7: April 17- May 17, 2024
Epoch 8: May 17- June 16, 2024
Epoch 9: June 16 — July 16
Epoch 10: July 16 — August 15
Epoch 11: August 15 — September 14
Epoch 12: September 14 — October 14
Please see the thread below for details on the reward release.
Users wishing to get the next months rewards can do so at https://upgrade.rendernetwork.com
Render | IO.net Compute Client Rewards
RNP-006 was implemented by the Foundation for Compute Clients. Round 1 of Compute Client Rewards were sent out December 30th. Here is some of the on chain data.
- 24K RENDER was sent to Compute Client Nodes with linked Solana wallets in their accounts.
- 15K RENDER is in escrow for Compute Client node operators without registered Solana wallets, which will be distributed once a Solana wallet is provided.
Node Operator Burn Mint Equilibrium Emissions
RNP-001, The Burn and Mint Equilibrium model went live on Wednesday, December 20th 2023 at 0 UTC and emissions payments will take place every Wednesday.
The Render Network’s new BME model enables the network to consistently price services using a supply and demand equilibrium, which helps creators to forecast rendering and AI jobs costs while also facilitating node operators to efficiently provide compute services. By employing this model, Render Network aims to provide an ideal balance between supply, demand, and infrastructure in GPU processing.
Over the past three weeks, Node Operator payments for BME Epochs 1, 2 and 3 have been released, with comprehensive emissions information captured below:
RENDER burns for Epoch 1 and Epoch 2 were also done on-chain with 15K and 2.6K RENDER burned respectively in each Epoch — Epoch 2 notably being over New Year’s when activity is lower.
Burn transactions can be viewed below:
This is a huge milestone for the Foundation as it is the biggest RNP launched out of a community vote. More about the BME launch can be found here.
As the Burn-Mint-Equilibrium advances into later stages of development, automated payouts and burns will be released, providing real time payments and transactions. Additionally, a dashboard providing Node Operators real time data on rewards payments will be provided.
Join us in the Rendering Revolution at:
Website: https://render.x.io
Twitter: https://twitter.com/rendernetwork
Knowledge Base: https://know.rendernetwork.com/
Discord: https://discord.gg/rendernetwork
Telegram: https://t.me/rendernetwork
Render Network Foundation: https://renderfoundation.com/
