Rendering network token RNDR rallied 43% in two days after the community approved the network’s Solana scaling proposal.
The Render community approved two proposals, RNP-002 and RNP-003, on April 26 — defining new methods for scaling the Solana blockchain and allocating network resources.
RNDR Price Soars
At press time, RNDR is trading at around $2.50. It rallied from a low of $1.75 on April 26 to a high of $2.6 today — a gain of 43% in two days.
On a weekly time frame, the token has returned 31%, having gained 112% over the past 30 days.
Source: TradingView
RNP-002
Proposal RNP-002 is titled “Expanding the Layer 1 Network” and proposes to move the Render protocol as a Layer 1 network to the SOL blockchain. About 4.8 million voters approved the proposal — while about 36,000 rejected it — resulting in an acceptance rate of 99.26%.
When the proposal was first launched, Render Network founder Jules Urbach described the benefits of the proposal, saying:
“Solana has the right mix of speed (compared to sidechain approaches) without compromising security. We want to ensure fast speeds, but not at the expense of security in the long run.”
The approval of the proposal determines the decision to implement its Burn-and-Mint Equilibrium Model (BME) to the SOL blockchain.
RNP-003
Proposal RNP-003, titled “Collection and Allocation of Resources for Core Team and Funding,” also received 99.9% community support, with nearly 4.7 million votes in favor and 4,900 against.
RNP-003 proposes handing over governance and control to the Render community – seen as an important step towards decentralization. In announcing the results, the Render team said the approval will allow them to “gather and allocate resources towards growth products and initiatives.”
The Render team mentioned this when the proposal was first released. The team stated that once RNP-003 is approved, they will propose more RNPs that can introduce better mechanisms for increasing liquidity and supplier rewards.
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board take
According to Cryptoslate
