Render Network's RNDR token is receiving increased interest from the community as the voting period continues on the proposed migration form Polygon based protocol to the layer-1 blockchain network Solana. The RNDR token has been up by 8% in the past 24 hours and has seen an appreciation of 15.8% in the last week. The proposed switch is in efforts to grow the network and fulfil the technical requirements for the burn-and-mint equilibrium model (BME). Issues with the current platform such as slow transaction times, high cost and centralisation, among others, calls for a change. These reasons along with convenience of the SOL ecosystem, have spurred the multi-faceted voting outcome which is still continuing. In addition to Render, Helium has also planned to move to Solana to take advantage of its speed and rich network. Solana's market price has reversed the expected losses post FTX and is currently trading around $21.23. Moreover, the total value of assets locked on the protocol has grown exponentially to $285.89 million according to DeFillama data.
Izabella Allen
- 2023-04-05
Render Network RNDR Token Set to Move to Layer-1 Blockchain Network
Render Network's RNDR token is receiving increased interest from the community as the voting period continues on the proposed migration form Polygon based protocol to the layer-1 blockchain network Solana. The proposed switch is in efforts to grow the network and fulfil the technical requirements for the burn-and-mint equilibrium model (BME).
