Crypto.com is facilitating Render Network’s rebranding effort by transitioning the Render (RNDR) token to Render (RENDER) to change how trading, deposits, and withdrawals are managed on the platform.
On July 16, 2024, the RNDR Perpetual contract will be delisted from the Crypto.com Exchange. Users are advised to close their positions by 08:00 UTC on that day. Any open positions after this time will be automatically settled against the TWAP, with taker fees applicable for these settlements
RNDR will be removed from both the Crypto.com App and Exchange on July 22, 2024. Trading, deposits, and withdrawals of both ERC-20 and Cronos-based RNDR will cease permanently. The delisting on the App will occur at 01:00 UTC, and on the Exchange at 02:00 UTC. Users may face retrieval fees for deposits made after this date, and in some cases, retrieval of funds may be impossible.
However, existing RNDR tokens will be automatically converted to RENDER tokens at a later date, maintaining a 1:1 conversion ratio based on users’ balances in the Crypto.com App and Exchange. Users do not need to take any action for this conversion. Additional details regarding the listing of RENDER on the App and Exchange will be provided in a separate announcement.
Render Network, now rebranded as RENDER, enables AI applications and entertainment producers to lease unused GPU capacity using its native cryptocurrency. The P2P network is expected to continue supporting various AI-related projects through its infrastructure.
Also Read: Render Token (RNDR) Soars 13% Amid Surge in Trading Volume
