Core

Solana

Equilibrium

April

<p>According to the <em>CryptoSlate</em> data, the Render Network token (<a href="https://cryptoslate.com/coins/rendertoken/">RNDR</a>) recorded a 43% surge in two days after the community approved the network&#8217;s Solana (<a href="https://cryptoslate.com/coins/solana/">SOL</a>) expansion.</p>
<p>The Render community <a href="https://twitter.com/RenderToken/status/1651023160869830658">approved</a> two proposals, <a href="https://snapshot.org/#/rndrnetwork.eth/proposal/0x69b148817ffe354d7351f069f75b80c68545109a30761f5dcacc4a5e462719d3">RNP-002</a> and <a href="https://snapshot.org/#/rndrnetwork.eth/proposal/0x9bb5a5f54c8e926ec7ef7804765c0ad2025b4b3e7f0968bef9105a9e0b87ffe7">RNP-003</a>, on April 26 — which determined an expansion to the SOL blockchain and a new method of allocating network resources.</p>
<h2 id="the-surge">The surge</h2>
<p><em>CryptoSlate</em> data indicates that the RNDR token was being traded for around $1.7911 on April 26. As of April 28, the price increased as high as $2.5615 — marking a 43% increase in two days.</p>
<figure id="attachment_321334" aria-describedby="caption-attachment-321334" style="width: 1297px" class="wp-caption aligncenter"><img class="size-full wp-image-321334" src="https://cryptoslate.com/wp-content/uploads/2023/04/RNDRUSD_2023-04-28_11-55-37.png" alt="RND to USD (Source: CryptoSlate)" width="1297" height="773" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/RNDRUSD_2023-04-28_11-55-37.png 1297w, https://cryptoslate.com/wp-content/uploads/2023/04/RNDRUSD_2023-04-28_11-55-37-300x179.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/RNDRUSD_2023-04-28_11-55-37-1024x610.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/RNDRUSD_2023-04-28_11-55-37-768x458.png 768w" sizes="(max-width: 1297px) 100vw, 1297px" /><figcaption id="caption-attachment-321334" class="wp-caption-text">RND to USD (Source: CryptoSlate)</figcaption></figure>
<p>At the time of writing, the RND token is being traded for around $2.5381 — reflecting a 36.32% increase over the last seven days. The token&#8217;s current price also marks a 98% and 68% surge in the previous 30 days and 365 days, respectively.</p>
<h2 id="rnp-002">RNP-002</h2>
<p>The RNP-002 proposal was titled &#8220;Layer-1 Network Expansion&#8221; and offered to move the Render protocol to SOL blockchain as the Layer-1 network. Around 4.8 million voters approved the proposal, — opposed to roughly 36,000 who rejected it — resulting in a 99.26% acceptance rate.</p>
<p>When the proposal was first launched, the Render Network founder Jules Urbach described the benefits of the proposal by <a href="https://medium.com/render-token/render-network-protocol-002-layer-1-network-expansion-651c08c40732">stating</a>:</p>
<blockquote><p>“Solana has the right mix of speed without compromising security (vs side-chain approaches). I think if nothing else we need to ensure we get fast speed, but never at the expense of security in the long run.</p></blockquote>
<p>Approval of the proposal determined the decision to deploy its Burn-and-Mint Equilibrium (BME) model to the SOL blockchain.</p>
<h2 id="rnp-003">RNP-003</h2>
<p>The RNP-003 <a href="https://medium.com/render-token/growing-the-render-network-community-though-rnp-003-resource-acquisition-and-allocation-for-core-ef9b3efd422b">proposal</a>, titled &#8220;Resource Acquisition and Allocation for Core Team and Grants,&#8221; was also approved by 99.9% of the community, with nearly 4.7 million supporting votes as opposed to 4,900 rejecting.</p>
<p>The RNP-003 offered to put governance and control in the hands of the Render community — which was perceived as a significant step towards decentralization. When announcing the results, the Render team stated that the approval would allow them &#8220;to acquire and allocate resources to bring products and growth initiatives to life.&#8221;</p>
<p>This was mentioned by the Render team when the proposal was first published. The team stated that they&#8217;d propose further RNPs that can introduce better mechanisms for increasing liquidity and provider rewards once the RNP-003 was approved.</p>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/rndr-surges-50-in-two-days-after-community-approved-solana-expansion/">RNDR surges 50% in two days after community approved Solana expansion</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

RNDR surges 50% in two days after community approved Solana expansion

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CryptoSlate

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