Token Description & Project Background

The Render Network uses blockchain technology to improve the usage of GPUs across the world. The network seeks to connect media creators in need of computing power to perform render jobs to people who have their hardware idle and want to monetize that. 

The network is built upon both the Ethereum ledger and OctaneRender, a 3D rendering application designed by Render’s parent firm OTOY. Within this framework, Render’s data verification and payment services are handled by Ethereum while the platform’s 3D rendering services are facilitated and completed via OctaneRender software.

The platform’s native token is RNDR, used to reward node operators for sharing their computational resources with the network.The RNDR token is used to pay for animation, motion graphics, and VFX rendering on the network.

The RNDR was launched in 2017 .

The Render Network was developed by OTOY, a leading cloud graphics firm with ties to serval Academy Award winning films. OTOY was created in 2009 by founder and current CEO Jules Urbach, a  software engineer who’s credited with creating the web’s first 3D video game platform. Urbach was assisted in development by fellow cofounder (and current CTO) Malcolm Taylor.

Risks of RNDR

Like an investment in other crypto assets, there are some general risks to investing in RNDR. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in RNDR is subject to the following specific risks:

• Any potential success associated with RNDR is dependent on the Render Network’s rate of adoption by users.
• Any potential success associated with RNDR is dependent on a number of external factors, such as the growth of cloud-based computing and the NFT economy.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with RNDR. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The RNDR community and OTOY are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of RNDR have no recourse to the RNDR community, OTOY, or Uphold if RNDR declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing RNDR on the Uphold Platform, Uphold performed due diligence on RNDR and determined that RNDR is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of RNDR, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of RNDR.
• Any marketing materials put forward by the RNDR social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with RNDR, including any code defects, security breaches and other threats concerning RNDR and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with RNDR, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of RNDR. 

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 14, 2023.