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Sep 22, 2022 17 tweets 8 min read Twitter logo Read on Twitter
Two important developments have been recently evolved for

1. Proposed tokenomics changing $RNDR from a simple ’17 ICO token to an utility token with clear value accrual

2. The flocking of Ethereum miners to the Render Network

Let’s dive in! 🧵 Image
1/ First of all, what the heck is Render Network?

Founded by @JulesUrbach, it allows for the rendering of an artist’s work matching with a computer's spar GPU-capacity.

Already envisioned in 2009, Jules Urbach patented the token-based billing model for server-side rendering.
2/ There are two crucial advantages underlying Render Network's:

1. Pricing arbitrage: NVIDIA's monopoly in GPUs dictates the Cloud Giants pay 10x the price for 20% more efficiency compared to consumer GPUs.

This made $RNDR 79% cheaper than the median render farm alternative.

2. Scalability.

It's common to reserve computation power at AWS/GCP/Azure.

Render Network has the ability to scale up to urgent demands without needing to pay exuberant costs
4/ This is because utilization rates are typically at 1% - an artist can easily reach an urgent deadline without paying surge pricing.

Utilization rate is the usage over total GPU capacity of the network.
5/ Render Network has proven a clear product-market fit:

In the first half of '22, 5.3M frames were rendered, a doubling from the year prior despite the fall in NFT activity.

This translates to 900K $RNDR spent, amounting to $225,000 rev using $RNDR fixed pricing per OB hour.
6/ What's cool is that some of the greatest NFT artists are using @RenderToken themselves:

@beeple, @fvckrender, @muratpak, @Ness_Graphics
7/ Render Network runs on spar GPU-capacity of computers.

It's no surprise Render Network has become a home ground for ETH miners after the successful Merge.

In fact, the wave of new node-operators forced Render Network to pause the application for node-operators. Image
Let's sum up what we know about @RenderToken thus far:

-It's a network of distributed GPUs which renders an artist video or NFT

-Render's USP are pricing arbitrage & scalability

-Used by the NFT artist chads

-ETH miners getaway postPoW
9/ So hear me out.

What started as a simple ICO token is getting redesigned from the ground up.

Following Proof of Physical Work's fav @helium & @Hivemapper, $RNDR is proposed to use a burn/mint model, opening up value accrual to its holders.
10/ There has been push-back from the community.

Should the token should be accretive to investors?

This would only confuse the artist and node-operators from the utility the network creates.
11/ @multicoincap led the 30M round in Dec of '21.

Their investment associate @shayonsengupta recently proposed the tokenomics change in RNP-001

12/ In a similar fashion to @helium, the artist would burn X USD of $RNDR for the node operator to render the project.

Using newly minted tokens*, Node operators are giving Coupon and Availability rewards.

*a 20% supply increase is proposed Image
13/ If the emissions are scaled down while demand has not yet evolved to sustain node operators, a net emissions cap is necessary.

This cap will still provide node-operatos with incentives after the max supply has been reached.
14/ While @RenderToken has clearly been successful in providing a 10x better product to its users, the network is positioning itself for the next wave of demand.
15/ Aside from the new tokenomics, the move to @solana and the direct implementation of @metaplex, support for #redshift3d and #cinema4dnext as well as @OTOY's Octane will position Render Network for the coming decade where rendering demand will explode.

Interested in reading more content from Chapter One Labs?Check out the @chapterone library!

FYI: the author holds $RNDR, NFA, etc

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More from @whp_wessel

Nov 23, 2022
Whatever happened, happened. Now, we have to move forward.

One of the areas where I see crypto having an edge is Proof of Physical Work.

Why is this the case? Let's dive in 🧵 Image
1/ During the week of the FTX saga, @Hivemapper launched.

We will discover the benefits of Proof of Physical Work (PoPW) as we dive into Hivemapper.
2/ First of all, PoPW can be seen as incentivising actors to do verifiable work that builds real-world infrastructure.

Helium is the most successful PoPW-project thus far and builds a global, decentralised wireless network.

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Nov 1, 2022
DeWi is creatively destructing the massive telecoms industry.

What problem does the telecoms industry face?

Why are DeWi faves @helium & @PollenMobile primed to solve the issue?

Anon, it's about time we dive into Decentralised Wireless

Let's dive in 👇 Image
1/ The telecom industry faces the following problems:

1. Shift to 5G requires a greater density of towers

2. Massive spectrum lays idle on the books

3. NPS of 6 indicates massive customer dissatisfaction

For each structural issue, DeWi's offers its own value proposition.
2/ But first, what is DeWi?

Decentralised Wireless is a network of crowdsourced telecom hardware governed by token incentives.

DeWi is a form of Proof of Physical Work, EdgeFi and Token Incentivised Physical Infrastructure Networks. Image
Read 22 tweets
Oct 4, 2022
"If the sky is blue, but a coiner says the sky is orange, what's the point of having a debate."

Well, the Crypto Policy Symposium, the first symposium organised by crypto-sceptics, was a big disappointment.

Here are my thoughts, and why crypto is not a scam🧵 Image

The Crypto Policy Symposium argued one side of the coin: that crypto is a scam and a scam only.

The sceptics say it's clear how society should respond:

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