Date- Tuesday, 23 July 2024, 05:46 AM GMT
The Render Network Foundation has announced an important token upgrade, shifting from the Ethereum-based $RNDR to the Solana-based $RENDER. This transition follows a community vote on proposal RNP-002, which favored Solana due to its faster transaction speeds, cost-efficiency, and capability to support the Render Network’s ambitious goals.
As major exchanges begin the upgrade process, $RNDR holders might notice their token balances temporarily showing zero. To address this and clear up any confusion, the Render Network shared essential information on X (formerly Twitter) today.
In a tweet, the Render team explained:
“If you hold $RNDR on a Centralized Exchange like @binance or @MEXC_Official, you may notice your account being upgraded from $RNDR to $RENDER in the next few days. No action is needed from users to complete the upgrade.”
If you hold $RNDR on a Centralized Exchange like @binance or @MEXC_Official you may notice your account being upgraded from $RNDR to $RENDER in the next few days.
— The Render Network (@rendernetwork) July 22, 2024
No action is needed from users to complete the upgrade.
This will look like your RNDR balance going to zero and…
The tweet further clarified that during the upgrade, users’ $RNDR balances might show as zero. Once the upgrade is complete, their balances will update 1:1 with $RENDER. For example, if a user had 50 $RNDR, they will see 50 $RENDER after the process is finalized.
As always, the Render team urged caution against scammers and advised users to check for official updates from their centralized exchange about the upgrade’s completion timeline.