The Render Foundation announced the successful migration of Render Network (RNDR) from Ethereum to Solana.
This move was accompanied by the launch of an Upgrade Assistant and a 1.14 million RNDR token grant to encourage token holders to bridge their tokens to Solana via Wormhole.
According to the statement, RNDR token holders can migrate their tokens from the Ethereum blockchain to the Solana blockchain using the Upgrade Assistant available at upgrade.rendernetwork.com.
The grant program will be in effect for three months, during which token holders will be able to move their RNDR tokens to the Solana blockchain without paying transaction fees. Early adopters of the program will have the opportunity to share 1.14 million RNDR based on a points system distributed in groups from 40 million to 220 million.
Jules Urbach, founder and architect of Render Network, expressed his excitement about this move, saying, “Moving Render's core infrastructure to Solana is a milestone that unlocks important new capabilities such as real-time streaming and dynamic NFTs.” He also said that Solana's processing speeds, low costs and commitment to web-scale architecture are fully in line with Render Network's vision of building a scalable and decentralized metaverse infrastructure.
Render Foundation Advisor Ryan Shea also welcomed Render's move to Solana. He emphasized that “Solana is the home of DePIN and Render Network is one of the most important DePIN networks in existence today.” DePIN stands for Decentralized Physical Infrastructure Networks and defines the networks that connect physical and hardware devices.
*This is not investment advice.