An in-depth teardown of Render Network's Solana upgrade and its far-reaching impact

Written by Feng & Carol, DFG

Introduction

On November 2nd, Render Network officially announced that it has successfully completed the upgrade to Solana, which means that the leading company in the decentralized rendering field has officially migrated from the Polygon ecosystem to the Solana ecosystem. This migration will involve the implementation of a number of RNP proposals (Render Network Proposals) that have been approved by the Render community for more than a year, including not only the migration of the Layer 1 ecosystem, but also the issuance of new tokens (RENDER) and the implementation of the new Burn and Mint Equilibrium (BME) token economic model. It will have a profound impact on the entire Render ecosystem and all stakeholders in the RNDR (which will soon be upgraded and renamed SPL token RENDER).

It can also be seen from the recent secondary market data that the entire community has given positive feedback on Render’s recent new moves. According to Coingecko data, Render’s token RNDR rose by more than $4 recently, hitting a new high in nearly 21 months.

RNDR (ERC-20) price trend in the past three months/Source: Coingecko

**What are the core elements involved in the upgrade? **

Render is undergoing a series of major technical upgrades that build on and complement each other. The core upgrades include the migration from Polygon to the Solana ecosystem, the upgrade from the old token to the new token RENDER, the introduction of the Burn and Mint Equilibrium token economic model, and the token incentive and ecological resource redistribution mechanism designed around the implementation of the BME model.

Render is currently second only to FIL in the DePIN track/Source: Coingecko

Looking to the future from explosive growth

Since April this year, the render business has entered a period of rapid growth, with rendering tasks reaching a record high of 179,500 in April, an exponential increase of 10 times compared with previous months, and the average number of rendering tasks per month has exceeded 120,000 so far, and the number is still growing, showing the explosiveness of the render rendering business. The main reasons are as follows:

● The partnership between the parent company OTOY (the authoritative cloud rendering company in the United States) and Apple, Apple’s official promotional video has repeatedly appeared the Render network logo. Octane X supports Macs and iPads equipped with M1, M2 and the latest M3 high-performance chips, and Render may become a built-in rendering component of Apple’s software in the future.

● Recently established a partnership with Stable Diffusion, which allows Render to generate 3D images and videos from large language models.

Render has seen explosive growth in the number of monthly rendering jobs/Source: Dune

Relying on the strong rendering technology of its parent company OTOY, Render has occupied a leading position in the decentralized rendering field early, but Render itself has been constantly pursuing innovation and iteration of products and technologies. The innovation of the token economic model and the migration to Solana are all for the future to better provide cloud rendering services.

In addition, Render is also making more innovative upgrades, such as the latest Proposition 007 plans to introduce the FEDML cloud platform, which aims to bring the needs of the AI community to Render’s computing network, and the GPU market of FEDML can include Render, so that AI developers can seamlessly access Render’s powerful distributed GPU resources. In addition to FedML, Render is actively introducing various other compute clients such as Beam, io.net, and other cloud platforms. In addition, at the recent Solana Breakpoint 2023 conference, Render also announced that it provides users with multiple renderers, adding new renderers such as Maxon’s Redshift, Physical, and Standard.

These series of fruitful actions will ensure that Render maintains a high level of narrative continuity in the future. AI commercialization has just opened, and AI-related fields such as AR and VR are also poised to take off, and there will be a continuous high demand for distributed GPU computing networks such as Render in the future. DFG is one of the early investors in Render Network and continues to be optimistic about the project’s product and technology progress. We believe that Render Network is well positioned to lead a large-scale decentralized rendering revolution.