Announcing Its New Update, This Altcoin Has Rise In Its Price!

Render Network, local altcoin Render Network (RNDR) announced that it has received management approval to implement a burn and mint balance (BME) mechanism for

RNDR is the top earner, rising in the last 24 hours after the news from cryptocurrencies became one. The token is trading at $1.72 at the time of this writing, and its market cap is around $437 million as of writing.

According to the data, RNDR has experienced a long-term uptrend, registering a massive increase of over 82% in the last 7 days and a massive 302% in the 30-day time frame.

Render Altcoin Gained Attention Due to Its New Burning and Mint Balance Mechanism

Render Network is a decentralized GPU provider that connects 3D artists to node operators with idle GPUs needed to render power-intensive renders.

Render DAO proposed to make RNDR a unit of payment between artists and operators by implementing a burn and mint balance (BME).

According to the proposal, the artist would burn the required amount of RNDR in exchange for the non-fungible credits that would be distributed to the node operators.

The main purpose of the BME mechanism was explained as making RNDR a commodity asset that could become deflationary in the long run.

After management discussion and voting, the Render DAO unanimously approved the implementation of a burn and mint mechanism for the RNDR token.

Meanwhile, the protocol said it will work to create a balanced emissions program that will reward node operators, artists, and liquidity providers as needed.

*Not investment advice.