Render Community’s RNDR is up 8% within the final 24 hours after the group began voting on a proposed migration to Solana (SOL).
The token is buying and selling at $1.37 as of press time and has elevated by 15.8% within the final seven days, in accordance with CryptoSlate’s knowledge.
Render eyes Solana migration
The Polygon-based protocol is eyeing a migration to layer 1 blockchain community Solana, in accordance with its RNP-002 Layer 1 Community Growth proposal.
In keeping with the proposal, the Solana migration was mandatory due to “future community development.” The challenge famous that:
“[Render needs] a excessive throughput, low latency blockchain for community settlement and node operation.”
It added that the important thing benefit of the swap is that it will assist it scale the community to satisfy the demand of its technical wants and implement the burn-and-mint equilibrium (BME).
In keeping with the proposal, the migration will help the implementation of the BME mannequin by bettering transaction instances, giving programmers extra flexibility, and lowering the price of transactions.
Moreover that, a number of Render customers have complained about their expertise on Polygon, citing its re-org tendency, centralization, and transaction charges as why the protocol ought to migrate.
In the meantime, the vote is keenly contested — 54.27% of the Render Group voted in opposition to the migration, whereas 45.73% supported the plan, in accordance with the Snapshot knowledge.
Voting is scheduled to finish by 8:00 PM on April 6.
Solana enjoys development regardless of points
Solana has recorded development this yr regardless of the points plaguing the community.
Render is one other crypto challenge planning emigrate to the blockchain following tasks like Helium (HNT). Helium mentioned its migration would permit it to faucet into SOL’s wealthy ecosystem and community pace.
In the meantime, Solana’s value has recovered from the lows of 2022, rising by greater than 100% to erase the losses recorded post-FTX. On the time, SOL traded for beneath $10 however has since recovered to $21.23 as of press time, in accordance with CryptoSlate’s knowledge.
Moreover that, Solana’s on-chain exercise has continued to develop, with the overall worth of property locked on the protocol at $285.89 million — a excessive for the yr, in accordance with DeFillama knowledge.
The put up Render token rises 8% as group votes on proposed Solana migration appeared first on CryptoSlate.
