Render Network Deprecates Legacy Polygon Implementation Following Security Concerns

Render Network has announced the deprecation of its RNDR token on the Polygon network following an incident involving unauthorized access to an inactive wallet. In a strategic move, the network has introduced a new Polygon-to-Solana bridge, allowing users to migrate their RNDR tokens to Solana on a 1:1 basis, according to Render Network.

Transition to Solana

The Render Network Foundation has been on a path to upgrade from the Ethereum ecosystem to Solana since 2023. As part of this transition, the network is phasing out its Polygon implementation. The new bridge, accessible at polygon.rendernetwork.com, enables RNDR holders on Polygon to convert their tokens to Solana-based RENDER tokens seamlessly. The eligibility for this conversion was determined by a snapshot of token holdings at a specific block number on the Polygon network.

Security Concerns Prompt Action

The decision to deprecate the legacy Polygon implementation was expedited due to the discovery of unauthorized access to a dormant wallet linked to one of the network's legacy Polygon contracts. Although no funds were lost, the incident posed a potential risk to approximately 1.4 million RNDR tokens, representing less than 0.3% of the total circulating supply.

Collaborative Mitigation Efforts

To mitigate any risks, Render Network collaborated with the Polygon Council and an external auditing firm to deprecate the bridge between RNDR on Polygon and the Ethereum Mainnet. These efforts were executed securely through coordinated efforts with the Render Network Foundation, partners, and security experts.

Guidance for Token Holders

Render Network advises all RNDR token holders on Polygon to cease trading these legacy tokens and use the new bridge to upgrade to Solana-based RENDER tokens. It is important to note that this incident does not affect Ethereum-based RNDR or Solana-based RENDER tokens, and no action is required for holders of these tokens.

For any inquiries regarding the upgrade, tokenholders are encouraged to contact Render Network support. It is advised to verify information through official Render Network channels before engaging in any transactions.