according to crypto slate According to data, Render Network Tokens (RNDR) surged 43% in two days after the community approved the network’s Solana (SOL) expansion.
Rendering community approved two suggestions, RNP-002 and RNP-003April 26 — Decided on an extension to the SOL blockchain and a new way to allocate network resources.
crypto slate Data shows that the RNDR token traded at around $1.7911 on April 26th.
At the time of writing, the RND token is trading at around $2.5381, reflecting a 36.32% gain over the past seven days. The current price of the token also shows an increase of 98% and 68% over the last 30 and 365 days respectively.
The RNP-002 proposal was titled “Layer 1 Network Extension” and proposed to migrate the render protocol to the SOL blockchain as a layer 1 network. About 4.8 million voters approved the proposal and about 36,000 rejected it, resulting in an approval rate of 99.26%.
When the proposal was first launched, Render Network founder Jules Urbach explained the benefits of the proposal: state:
“Solana achieves a good combination of speeds without compromising security (versus sidechain approach). Above all, I think you need to ensure speed, but in the long run you have to sacrifice security. Never do.
With the approval of the proposal, the decision was made to deploy its Burn-and-Mint Equilibrium (BME) model on the SOL blockchain.
RNP-003 suggestiona project titled “Acquisition and Allocation of Resources for Core Teams and Grants” was also approved by 99.9% of the community, with approximately 4.7 million support votes against 4,900 rejections.
RNP-003 proposed leaving governance and control in the hands of the Render community. This was seen as an important step towards decentralization. When announcing the results, the Render team said the approval would allow them to “acquire and allocate resources to deliver on our product and growth initiatives.”
This was mentioned by the Render team when the proposal was first published. The team said that once RNP-003 is approved, it will propose further RNPs that could introduce better mechanisms to increase liquidity and provider rewards.
Post-RNDR surged 50% in two days after the community-approved Solana expansion first appeared on CryptoSlate.