Update: RENDER Burn Mint Equilibrium Emissions Are Live

Render Network Burn Mint Equilibrium emissions are now live on Solana. The upgrade allows rendering and AI jobs to be paid on-chain in RENDER (previously RNDR), the network’s recently upgraded token, which now is emitted and transacted on Solana, a performant layer 1 blockchain.

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.

Below is a breakdown of essential information about the update:

RENDER Emissions:

• Initially, each epoch period will be 7-days before moving to 24-hour intervals once the network is fully upgraded. Emissions began Wednesday, 12/20 and will be distributed as RENDER SPL tokens on 12/27, when the next epoch begins.
• The first month’s full emissions are minted up front each month (for month 1, it is 570,426 Render as in the diagram below — with 190,142 RENDER going to Render Network Node Operators

First year Render Network Emissions

• At the end of each epoch, emissions will be distributed to separate wallets representing amounts initially reserved for the Foundation, Node Operators, Liquidity Providers and Artists.
• 2.3M tokens are reserved for yr 1 Node Operator Emissions = (6,251 per day or 43,758 every 7 days.
• Each Node Operator that does work on a completed and approved job during an epoch will get a relative share of the 43.7k tokens available for the epoch based on the last frame that was approved in the epoch (frames completed in one epoch but approved in a later epoch will be paid in the epoch of approval).

Example: If an artist pays Eur 100 for a job, and the node operator does 1/10th of the work, Eur 10 would be attributed to the node operator.

Assuming that is the only work they do in the epoch, and a total of Eur 15k is spent on all completed and approved jobs during the epoch, the node operator would earn 10/15,000*43,758 = 29 RENDER

Important Solana Wallet Information for Node Operators

• Emissions can only be paid to Solana compliant wallets. Nodes need to add a Solana wallet in the Render Client in order to receive emissions.
• Please see this guide for creating a Solana Wallet. Nodes are prompted in the Render interface to add a Solana Wallet (as below).

When you paste in your address in the input field which is marked red, the button underneath it changes to a “Save” button. When you hit that, the client will restart and set the new wallet address

• Only one Solana wallet address will be available per ETH address. The Network will use the most current Solana address listed at the time of transition to BME, or whatever nodes provide when adding a wallet for the first time. As a result, it is important to use a trusted Solana wallet.

Important: Once the BME is live, nodes will be unable to change their receiving Solana wallet address without a support process. As a result, it is important to only use a trusted wallet that you control for accepting node payments.

Please note: for nodes doing work with only ETH wallets connected, ongoing rendering work will still be paid. For those nodes that have yet to add a Solana compliant wallet, RENDER Emissions payments will be held in Escrow until a compliant wallet is provided, at which point they will be distributed.

Note on Compute Clients and Burn Process

• Io.net will not be part of BME until the full integration is complete.
• Initially, given limited RENDER liquidity on Solana, tokens to burn will be batch purchased from OTOY at the end of the epoch, upgraded from RNDR into RENDER, and then burned.
• In the new year, native RENDER liquidity and automated burn are part of the complete upgrade process.

In the coming weeks, the Render Network Foundation will continue to release updates about successive developments in the upgrade to Solana.

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/