What is Render Token (RNDR)?

Discover the key facts about Render Token (RNDR).

About Render Token

RNDR is the utility token of The Render Network, a provider of decentralized GPU based rendering solutions.

RNDR is an ERC-20 token which serves as the utility token used to pay for animation, motion graphics, and VFX rendering on the Render Network. The Render Network is a provider of decentralized GPU-based rendering solutions. The project consists of three major components working in conjunction: (a) creators, (b) node operators, and (c) OctaneRender. Using the Render Network, creators can tap into GPU power to render final images at higher speeds and lower costs than previously available. Node operators rent out their spare GPU to creators and receive RNDR tokens for time spent rendering. 

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Why Donate RNDR?

Since RNDR has appreciated significantly, donating RNDR and other cryptocurrencies can save you money on your taxes. Because the IRS classifies cryptocurrency as property, this means you don’t have to pay capital gains tax on your donation and can deduct the amount on your tax return. This is why financial advisors recommend you donate your most highly appreciated assets first. Users who donate and enter their email address will automatically get a compliant tax receipt.

Don’t want your RNDR stack to decrease? Repurchase the same amount of MIR afterward and still get the same tax benefits to offset some (or all) of your gains.

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