RNDR Token Sale Details
10/2 Update: Added ETH/RNDR peg rate.
Details regarding the upcoming RNDR Token Sale on 10/5
Overall Token Distribution
There will be a total of 2,147,483,648 Render tokens for use in the RNDR Network — no additional Render Tokens will ever be generated. The percentage breakdown is as follows:
Token Sale elements
The token sale is currently expected to take place at approximately 4pm UTC (12pm EDT, 9am PDT) on October 5th, 2017. The sale is intended to last for 30 days after launch. The hard-cap for this token sale will be $134,217,728.
We currently expect to sell 536,870,912 (five hundred and thirty-six million, eight hundred and seventy thousand, nine hundred and twelve) tokens to the public that will represent 25% of the total amount of Render Tokens. The token sale proceeds are intended to cover the estimated costs outlined in the Use of Funds section in the Whitepaper. Our goal is that these proceeds will enable us to build the robust ecosystem and dynamic framework that we have envisioned for the future of this project.
Remaining tokens
65% — The Render User Development Fund: This fund is intended to serve two purposes:
1. Our goal is for it to function as a token fund for render users requiring large rendering jobs. Since obtaining a sizeable amount of tokens needed through third party exchanges can prove to be a cumbersome process, the reserve is intended to bolster the network by providing a liquid depository of tokens. These tokens will be sold through a smart contract at a price that is pegged to the market value of the Render Token. The proceeds from these funds are anticipated to bolster the reliability of our user rendering platform — this way, as more complex render jobs are being processed by the network, the entire network community will be rewarded. This should also serve as an inflationary measure to bring more tokens into the network in order to bolster supply.
2. As the capacity and number of the users requesting and performing render jobs increases, it is anticipated that more tokens will be released into the ecosystem in the form of bonuses and incentives for the users performing render tasks. The incentives and bonuses will be calculated using a variety of factors, such as user reputation score.
10% — Advisors & Team Members, Partners & Providers:
This portion of the tokens will be allocated to team members and advisors who are actively contributing to the development process, as well as the providers working alongside OTOY on the project.
In order to align the interests of the project with the incentives of our internal stakeholders, we will be keeping these tokens in a 6 month lock-up period.
Funding methods and Registration Period
You may purchase RNDR tokens in the crowdsale using Ether through your Ethereum wallet. The registration process is expected to start at 4pm UTC on Wednesday, September 27th, 2017. In order to participate in the sale, you will need to register the Ethereum wallet that you will be using in the sale during the registration process. The registration process will occur at http://www.rendertoken.com
Purchase Price
The ETH/RNDR exchange rate will be 1150 RNDR per 1 ETH for the token sale. This was decided by taking a 30-day weighted average of the price of ETH.
If you have any questions, please feel free to ask via our Twitter, Reddit, and Rocketchat!
