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Crypto AI Token Render (RNDR) Migrates to Solana Blockchain

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Thu, 2/11/2023 - 16:35
Crypto AI Token Render (RNDR) Migrates to Solana Blockchain
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Render Network, a decentralized computing network, has successfully upgraded its core infrastructure from Ethereum to Solana. Token holders of RNDR can now migrate their tokens from the Ethereum blockchain to the Solana blockchain. 

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The Render Foundation has allocated up to 1.14 million RNDR in grants to subsidize user transfer fees on Ethereum associated with the upgrade to support a quick and successful upgrade.  

The first users to upgrade will be awarded a share of the 1.14 million RNDR based on a points system, with cohorts ranging from 40 million to 220 million. 

The upgrade assistant grant program will last three months, after which holders will have to pay their gas prices to migrate their RNDR tokens to the Solana blockchain. To enable asset transfers between Ethereum and Solana, the Render Network Upgrade Assistant will use Wormhole's cross-chain messaging protocol. 

Wormhole, a cross-chain messaging platform, reacted to the upgrade on X, noting that "over $1.2 billion in RNDR is migrating from Ethereum to native SPL on Solana via Wormhole."

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Moving Render's core infrastructure to Solana would be a watershed moment, enabling substantial new features such as real-time streaming and dynamic NFTs. 

The switch to Solana is projected to expand Render Network's capabilities into new areas such as machine learning and inference training, as well as unlock new usefulness through Solana's technologies, like compressed NFTs, on-chain order books and real-time oracles.

Following the upgrade, the Render Network will undergo another upgrade to implement Burn-Mint-Equilibrium for the new SPL-based RENDER coins. Other additions, such as new compute client functions, are scheduled to be included in the upcoming upgrade.

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