According to the CryptoSlate data, the Render Network token (RNDR) registered a 43% increase in two days after the community approved the network’s Solana (SOL) expansion.
The Render Community approved two proposals, RNP-002 And RNP-003on April 26 – which captured an extension of the SOL blockchain and a new method of allocating network resources.
The wave action
CryptoSlate data indicates that the RNDR token was trading on April 26 for about $1.7911. As of April 28, the price rose to $2.5615 – a 43% increase in two days.
At the time of writing, the RND token is trading at around $2.5381, reflecting a 36.32% increase over the past seven days. The current price of the token also marks a 98% and 68% increase in the past 30 days and 365 days respectively.
RNP-002
The RNP-002 proposal was titled “Layer-1 Network Expansion” and offered to move the Render protocol to SOL blockchain as the Layer-1 network. About 4.8 million voters approved the proposal as opposed to about 36,000 who rejected it, resulting in a 99.26% acceptance rate.
When the proposal was first launched, Render Network founder Jules Urbach described the benefits of the proposal by to report:
“Solana has the right mix of speed without compromising security (versus side-chain approaches). I think we should at least ensure high speed, but never at the expense of long-term safety.
Approval of the proposal determined the decision to deploy the Burn-and-Mint Equilibrium (BME) model on the SOL blockchain.
RNP-003
The RNP-003 proposaltitled “Resource Acquisition and Allocation for Core Team and Grants”, was also approved by 99.9% of the community, with nearly 4.7 million votes in support instead of 4,900 votes against.
The RNP-003 offered to put governance and control in the hands of the Render community – which was seen as an important step towards decentralization. In announcing the results, the Render team stated that the approval would allow them to “acquire and allocate resources to bring products and growth initiatives to life.”
This was mentioned by the Render team when the proposal was first published. The team stated that they would propose more RNPs that could introduce better mechanisms for increasing liquidity and rewards for providers once the RNP-003 is approved.
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