RENDER · mint outpaces burn by ~3×.
Render Network is a decentralized GPU compute network. Tokenomics run on Burn-and-Mint Equilibrium (BME): compute providers earn newly-minted RENDER each weekly epoch under a governance-ratified annual cap, and creators pay fiat that the Foundation converts to RENDER and burns at the end of each epoch. Year 2 (RNP-018) cap is 5.91M RENDER/yr (≈1.41M/90D); 2025 actual was 5.64M. Burns reached cumulative 1.0M by Dec 2025 and grew +278% year-on-year. Last 90D: ~1.41M minted vs ~0.5M burned = ~+0.18% to market. The burn line is growing fast (RNP-023 Salad Network subnet onboards 60–70K daily-active GPUs) but mint still leads ~3×.
Burn-and-Mint Equilibrium (BME). RNP-018 set the Year 2 annual cap at 5.91M RENDER; 2025 actual was 5.64M (per the 2025 Annual Financial Overview). 90D slice ~1.41M. Weekly epoch mints; declining annual curve. Split evenly between compute providers and Foundation operations.
Original 2018 ICO + team allocations fully unlocked years ago. No scheduled vesting cliff in the window.
~2.02M RENDER in Foundation custody at end of 2025 (cumulative). Deployment cadence not on a published per-quarter schedule. The Foundation half of the BME mint is captured in Sell #1; standalone discretionary deployment is treated as embedded in that flow to avoid double-counting.
No bankruptcy estate. No long-term-locked RENDER scheduled to unlock in the window.
Render does not run a revenue-funded open-market buyback. The Foundation does not buy RENDER from secondary markets; burns come exclusively from the BME job-completion flow.
BME burn (creator-paid). Creators pay fiat for GPU rendering and AI compute jobs; the Foundation batch-purchases the equivalent RENDER from compute providers at end of each weekly epoch and burns it. Cumulative burns reached 1.0M RENDER by Dec 2025; 2025 burns grew +278% year-on-year. 2026 Q1 pace ~200K/90D and rising with RNP-023 Salad Network subnet onboarding. 90D figure ~0.5M.
No Foundation accumulation programme separate from the BME burn flow above.
Render does not run a long-term staking lockup programme. Compute providers stake operationally but balances are not exposed as long-term locked.
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