What is Render Network (RENDER)? Project and Token Analysis

Coin: Render token
Ticker: RENDER
Date Deployed: Wed Nov 29 2023

Origin of the Project

Render Network was first introduced in August 2017 by Jules Ubach, the founder of OTOY, Inc., a company specializing in GPU-based software technology. Ubach envisioned a peer-to-peer platform that would leverage idle GPU resources to provide affordable and accessible rendering services to creators, all without compromising on quality. Initially, the Render Network project deployed its token, RNDR, on the Ethereum blockchain as an ERC-20 token during a two-phase token sale between 2017 and 2018. The RNDR token underwent a significant transformation in February 2019, reducing its maximum supply from over 2 billion to approximately 537 million.

In March 2021, due to rising gas costs on Ethereum, Render Network bridged the ERC-20 RNDR token to Polygon, and by November 2023, the project migrated its infrastructure and token to Solana. This migration expanded Render Network’s offerings beyond rendering to include GPU computing services through an external API, catering to third-party computing clients. The launch of Solana also introduced the Burn-and-Mint Equilibrium (BME) model, which facilitated on-chain payments in SPL RENDER, ensured predictable job pricing, and incentivized node operators with rewards. This strategic shift positioned Render Network as a versatile platform for rendering and GPU computing, supporting a wide range of tasks from machine learning to advanced computing processes.

Products

Simplifies the rendering and streaming of complex virtual projects.
Distributes GPU-based rendering tasks across a peer-to-peer network.
Enables node operators to contribute unused GPU power and earn RENDER tokens.
Optimizes the use of GPU resources globally.
Supports the creation of a digital marketplace for funding and accessing digital assets and applications.

Use Cases/Services

Visual Effects and Motion Graphics: Allows artists and studios to create large-scale 3D effects without heavy upfront investment, leveraging vast GPU resources for higher quality outputs.
Virtual Assets and NFTs: Facilitates the creation and tokenization of 3D assets and NFTs with detailed provenance and portability.
Virtual Production: Combines live action with extensive 3D environments, expanding possibilities in filmmaking and production.
Projection Mapping: Provides capabilities for rendering ultra-high-resolution 3D graphics for events and immersive environments.
Product Design: Enables rapid and large-scale prototyping with parallel GPU rendering, speeding up the design process.
Architecture: Offers architects the ability to produce lifelike 3D visualizations and VR experiences of their designs.
Simulation: Supports complex scientific simulations, including physics and neuroscience, through advanced rendering capabilities.
Visualization: Assists in creating detailed visual content for training and industrial purposes.
Augmented Reality and Gaming: Enhances real-time streaming and interactive experiences for AR and gaming through GPU pre-rendering and hybrid graphics.
Artificial Intelligence: Powers AI-driven 3D content creation, holographic rendering, and AI training, with integrated digital rights management.

Should RENDER Be in Your Portfolio?

Before you decide whether or not to add RENDER to your portfolio, click here to scan the contract on Solsniffer. Solsniffer is the number one blockchain intelligence tool to detect security risks on Solana. Security risk analysis on Solana has never been easier, make sure to be aware of potential DeFi wallet scams and other crypto security concerns before investing.

Due Diligence Tips Before Investing or Trading RENDER

Research the Token

Analyzing RENDER as a token is important for understanding its potential. Review its whitepaper, community engagement, development team, and long-term roadmap. Is the project solving a real problem and has a clear plan for the token in its ecosystem?

Perform in-depth research before trading any Solana-related project, including RENDER. Understanding the project’s whitepaper, the use case, and the founding team’s goals will give you insight into the coin’s potential.

The orderbook can leave clues too, when there are more buy orders than sell orders, RENDER’s price is likely to rise, while an excess of sell orders could lead to a price drop. It can also help identify past market manipulation.

Develop a Safe Trading Strategy

Having a structured trading strategy prevents making emotional mistakes. If you cover multiple aspects, such as considering market conditions, clear trading goals, and determining entry and exit points, it can improve your chances of success. Your risk tolerance can make a great plan if you follow it and if the market agrees with your strategy.

In crypto, it’s easy to get caught up in the excitement and make impulsive decisions, especially when seeing how many others are making loads of profits. Avoid rushing into buying RENDER during a price pump, as a correction can follow.

An effective risk management strategy is a great differentiator as a trader, and that includes RENDER. Use stop-loss and take-profit orders to limit losses and lock in profits automatically. Also, position-sizing is smart to not risk too much of your capital on a single trade, protecting your portfolio from significant losses.

How to Scan RENDER on Solsniffer

Copy the RENDER contract address: rndrizKT3MK1iimdxRdWabcF7Zg7AR5T4nud4EkHBof
Open the Solsniffer website and paste the address in the search bar.
Within seconds, a detailed analysis of RENDER on-chain data is generated.
A security score called Snifscore also ranks the project out of 100 to determine the authenticity of the project.

RENDER Tokenomics

Total Supply: 532,219,654
Max Supply: ∞
Market cap: $1,915,585,046

Snifscore Analysis

Snifscore: 59/100
High-risk factors: 6
Medium-risk factors: 1
Low-risk factors: None

Summary of (5) Contract Passed Indicators

No scams linked to owner’s wallet
No permanent control risk
Significant portion of the LP is locked or burned
Adequate liquidity levels
No custom fees applied

Summary of (7) Contract Risks to Consider

Mintable risk detected – High Risk
Freeze risk present – High Risk
Transferability risk found – High Risk
Private wallet holds significant supply – High Risk
Top 10 wallets hold significant share – High Risk
Top 20 wallets hold significant share – High Risk
Metadata mutability risk – Moderate Risk

Find Out if RENDER Is a Fraudulent Token

Detecting a scam project requires a combination of caution, research, and vigilance. Fraudsters come up with numerous ways to trick investors, staying awake to the warning signs before falling victim.

One of the first red flags is an offer that guarantees high returns with little to no risk. Rug pulls are the most common scam at the moment, the project creators build hype around a new Solana project and then disappear with the profits. If the team of a project stops providing updates, it could be a sign of trouble.

A few tips to protect yourself is to research the team behind a project, see how well they execute their roadmap, use secure wallets, enable 2FA and avoid giving your personal data to social media giveaways.