Kraken to support Render (RNDR) migration to RENDER

UPDATE

We’re pleased to announce that the migration of RNDR tokens to RENDER was completed successfully today, August 6th, 2024. Thank you for your patience.

Users who held RNDR balances at July 29, 2024 12:00 PM UTC - when we took a balance snapshot of all RNDR held on Kraken - will now see a RENDER balance in their account.

Reminder: we converted RNDR to RENDER at a rate of 1:1.

If you have any further questions or require assistance please contact our support team.

On July 29, in partnership with the Render Foundation, Kraken will migrate all RNDR tokens on platform from the Ethereum Blockchain over to the Solana blockchain, as RENDER. Kraken will subsequently delist RNDR and list RENDER.

RNDR tokens will be converted to RENDER tokens at a 1:1 ratio.

Here is what you need to know:

July 16, 2024 12:00 UTC:
Margin markets: RNDR (RNDR/USD) will be set to ‘Reduce Only’ mode.
July 23, 2024 12:00 UTC:
Margin markets: Any remaining open RNDR margin positions will be closed.
July 29, 2024 12:00 UTC:
Kraken will list the new token RENDER (RENDER/USD, RENDER/EUR). Deposits, withdrawals, and trading will be made available for RENDER.
RNDR will be subsequently delisted from Kraken: deposits, withdrawals, and trading will be unavailable for all RNDR pairs (RNDR/USD, RNDR/EUR).

How will the migration work?

At the time of the migration from RNDR to RENDER, Kraken will take a snapshot of all user RNDR balances and convert those exact balances into RENDER. The conversion is 1:1, so the balance held in RNDR will be identical in RENDER. The migration is expected to take up to 24 hours, during which time any RNDR balances will be temporarily unavailable.

What will happen to my RNDR?

If you hold a RNDR balance at the time of the migration to RENDER, on July 29, then your RNDR balance will be automatically converted at a 1:1 ratio, by Kraken, to RENDER.

Why is this happening?

We are taking this action to support the roadmap set out by the Render Foundation team. This is not an independent decision made by Kraken. Render originally ran as an ERC-20 on the Ethereum Blockchain, but following a community vote in 2023, it has begun upgrading to the Solana blockchain (SPL). This migration is a part of that process. Find out more information by reading the upgrade announcement published by the Render Foundation.

If you have any further questions or require assistance please reach out to our support team.

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