Blockchain-Based Render Network Token Rising After Community Vote for New Burn-and-Mint Model

RNDR, the utility token of the blockchain-based distributed rendering service Render Network, has surged over 80% over the past week. The increase has come after the community passed a new burnt-and-mint equilibrium model. _jocelynyang_ reports

posted on GitHub, the new model would allow artists to burn the required amount of RNDR in exchange for non-fungible work credits, which are distributed to node operators.

With the BME model, Render aims to make RNDR a commodity and deflationary asset. Founded by cloud rendering company OTOY's Jules Urbach in 2016, Render Network provides distributed graphics processing unit -based rendering service for the culture and entertainment sector.showed that funding rates for the token currently remained positive in most exchanges, indicating a mostly bullish sentiment among traders.

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