In a bid to facilitate the migration of its user base, Render has introduced an Upgrade Assistant program supported by Wormhole protocol, providing an incentive of 1.14 million RNDR tokens. This three-month initiative is designed to encourage users to transfer their tokens early, with a portion of the grant allocated for these early migrators.
The switch to Solana comes at a time when the blockchain has demonstrated significant growth, with a notable surge of 144% in value over the past month. Moreover, Solana’s price has increased by over 15 times against Ethereum. Ryan Shea highlighted Solana’s attributes such as speed, cost-effectiveness, and scalability, and how they align with Render’s long-term objectives.
This integration is anticipated to further propel Solana’s adoption in the blockchain community and potentially reduce Ethereum’s market presence. Solana’s technologies like compressed NFTs and on-chain order books are expected to provide Render users with new utilities.
While the $RNDR token will continue to exist, it will no longer be maintained by the Render Foundation nor function on the Render Network post-migration. This development marks a pivotal step for Render Network as it seeks to leverage blockchain technology to enhance its offerings and user experience.
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Source: Cryptocurrency - investing.com
