Buyback Radar

Render Network BME RENDER

Sell signal activeRank#11▲1Score53

Sell signal since Nov 3. no variant; REV ratio 1.0×, HR ratio 1.0×. Still open: payout at 13% of its 90-day peak. Also active: Distribution cut. See Signals.

DePIN, Solana, 192 days of data

Active signals 3

  • Distribution cutsince Nov 10

    Paid to holders this week $47k, 26% of its usual $182k per week. Revenue this week $49k.

    Payout to holders cut: revenue this week $49k, 1.0× the week before, paid to holders 26% of its usual week. Still open: the payout has not recovered.

  • Sell signalsince Nov 3

    Revenue this week $49k, about the same as the week before.

    Weekly revenue drop: revenue this week $49k, 1.0× the week before, paid to holders 1.0× the week before. Still open: payout at 13% of its 90-day peak.

  • New in top 20since Nov 10

    Ranked #11 on Nov 11, up from #12 the day before.

Market cap

$832.8M

price $1.47 · 7d −8.3% · 30d −29.5%

FDV $827.5M (1.0× market cap)

source defillama

Counted per year

$6.9M

holders revenue of the last 30 days, $751k, × 365 ÷ 30, × type factor 0.75 (burns count 75%)

Burnbuyback share 95%

Burns 1.1% of its market cap a year, using 95¢ of every $1 it earns.

Not a buyback: counts for 75% in the multiple (type factor 0.75), so the denominator is $6.9M instead of $9.1M.

Multiple

122×

median of all tokens 20.2×, against 122× here

Run-rate

455×

last 7 days $47k × 52 × 0.75 (type factor) = $1.8M a year

last week's payout to holders ran at 27% of the 30-day pace: the payout is slowing

What we checked

  1. Valuation

    Multiple 122× (type factor 0.75: burns count 75%), 6.0× more expensive than the median of all tokens (20.2×; its category is too small for a peer group). The group's largest earner Hyperliquid trades at 20.2×: 6.0× dearer per dollar returned to holders. On total revenue: 86.6×, 5.0× cheaper than the revenue peer median.

  2. Distribution

    Burn: Tokens are burned from fees without a market buy; supply falls but there is no direct buy pressure. Holders got $751k of $791k revenue in 30 days → buyback share 95%. DefiLlama: “Job Payments to $RENDER burn: 95% of gross job fees allocated to $RENDER burn on Solana (observed as SPL burns from the burn wallet).”

  3. Sustainability

    Holders were paid on 30 of 30 days (100%); largest single day 19% of the month's holders revenue; paid to holders this week: 13% of the best week in 90 days (more than half below peak). Revenue −1% over 7 days and +240% over 30 days, price −29% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

  • Sell signalactive since Nov 3; no variant; REV ratio 1.0×, HR ratio 1.0×. Still open: payout at 13% of its 90-day peak. See Signals
  • Distribution cutactive since Nov 10; paid to holders $47k in the week to 2026-11-11 vs $182k per week from 2026-10-08 to 2026-11-04 (26%) while REV7 is $49.5k ($50k the week before); last payout 2026-11-11. Still open: the payout has not recovered. See Signals
  • Payout >50% below peakthis week's holders revenue is 13% of its best week in the last 90 days ($364k)
  • Small peer group51 peers in universe; median taken from the universe level

How the buyback really works

Researched Nov 1, 2026 · 1 wallet: 1 medium confidence

  1. The moneyPaid from ongoing revenue
  2. The buyerTokens are burned straight from fees
  3. The tokensBought tokens are burned

The project says 95% of its revenue goes to buybacks, in line with DefiLlama (95% of render-network-bme's revenue).

On-chain: $618k bought back over 30 days = 82% of what DefiLlama reports for the same days.

A recomputation with DefiLlama’s own method: it confirms DefiLlama’s figure on-chain, not an independent count.

Method: Helius enhanced transactions: SPL burns of RENDER by the burn wallet rbrnm7… (DefiLlama method). Checked November 12, 2026.

Red flags 4

  • Not a buyback from profit: BME burns the RENDER equivalent of the USD job price, while node operators are paid in newly minted RENDER. Net deflation only if burns > emissions.
  • Burns go through a single centrally managed wallet, not an autonomous contract. Who buys the RENDER for fiat payments is not specified.
  • The 5% service fee to OTOY (related party) is off-chain and not verifiable.
  • The burn address appears only in DefiLlama's calculation. The official BME knowledge base page names no address and no 5/95 split (verifier check); the 5% comes from the FAQ/monthly report and DefiLlama's calculation constant.
Buyback wallets 1
Sources 5

Open the buyback wallets in their explorer and look for regular purchases of the token.

Check it yourself (technical)

Sum the burn and burnChecked transfers of mint rndrizKT3MK1iimdxRdWabcF7Zg7AR5T4nud4EkHBof with from_address = rbrnm7... over 30 days (raw_amount/1e8). This is exactly the adapter's Allium query (solana.assets.transfers, type IN ('burn','burnChecked')). Alternative: Helius getSignaturesForAddress(rbrnm7...) with getTransaction (jsonParsed). Value each burn at the price; gross job revenue is burn/0.95 (adapter: SERVICE_FEE_RATE = 0.05). For the net supply impact, also track mint emissions.

Holders revenue / revenue (30d)
$751k / $791k
last 30 closed days
To holders
Burns 1.1% of its market cap a year
FDV / dilution
$827.5M / 1.0×
FDV ÷ market cap
Price 7d / 30d
−8.3% / −29.5%
Revenue growth 7d / 30d
−1% / +240%
versus the period before
Divergence
1.57
revenue growth minus price growth, 30d
DEX liquidity
$1.4M
DexScreener, representative pools
24h volume
$26.3M
all markets, CoinGecko
Unlocks 30d
—
no unlock schedule for this token
Revenue multiple
86.6×
market cap ÷ revenue per year
Fee multiple
86.6×
market cap ÷ fees per year
Distance to peak
13%
this week ÷ best week of 90 days
Data since
May 4
first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 122× (scored) · peer median 20.2×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
DateSignalPrice thenAfter 7dAfter 30dSinceOutcome
November 11, 2026New in top 20active$1.61——−9%30-day check: day 1
November 11, 2026Distribution cutactive$1.62——−9%30-day check: day 1
November 4, 2026Sell signalactive$1.47+5%—0%30-day check: day 8
October 30, 2026New in top 20closed Nov 3: now ranked #24$1.57−1%—−6%not counted

Versus peers

universe (whole universe) · 52 tokens (51 with a multiple) · median multiple 20.2× · Hyperliquid is valued 20.3× higher. Per dollar that counts for holders, Render Network BME is 6.0× dearer.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
TokenDistributionMultipleRevenue multipleBuyback shareTo holders 30dMarket capRev. growth 30d
PaperStrategyBuyback + burn0.2×0.1×42%$780k$1.9M+17%
Pharaoh Exchangeve / bribes0.3×0.2×100%$1.3M$2.6M−52%
OTCBuyback + burn0.5×0.2×43%$292k$1.9M+111%
RamsesXMixed0.7×0.5×97%$368k$2.2M+8%
nestDistribution0.8×0.4×100%$869k$4.4M+32%
SaplingBuyback + burn0.9×0.7×82%$100k$1.1M−30%
ORE ProtocolBuyback + burn1.0×1.0×99%$4.3M$51.7M+37%
StonkFunBuyback + burn1.7×1.0×60%$1.7M$34.5M−88%
upve / bribes2.0×1.0×100%$313k$3.9M−68%
Fake World AssetsBuyback + burn2.4×1.7×80%$149k$3.9M−70%
THORSwapMixed3.7×2.1×75%$312k$10.4M+55%
MarinadeBuyback5.1×2.5×50%$193k$11.9M−13%
ChainflipBuyback + burn5.4×5.4×100%$520k$34.4M+59%
PonsBuyback + burn5.7×5.7×118%$1.7M$99.8M−84%
PumpBuyback5.8×2.6×44%$21.9M$1.54B−24%
UsualMixed6.3×3.3×70%$378k$21.6M+80%
Aerove / bribes8.7×4.0×96%$7.4M$372.0M−6%
Tornado CashMixed9.6×7.2×100%$278k$24.4M−21%
SSV NetworkMixed12.4×9.3×100%$275k$31.1M−10%
SparkBuyback13.0×3.7×29%$340k$53.8M+133%
LighterBuyback14.6×11.8×81%$4.4M$775.1M+14%
edgeXBuyback16.0×7.0×44%$622k$120.8M−43%
LidoBuyback18.6×6.2×34%$0$255.2M+6%
GeodnetBuyback + burn18.8×15.1×80%$744k$170.5M0%
PancakeSwapBuyback + burn19.5×12.8×65%$2.4M$563.6M−29%
HyperliquidleaderBuyback + burn20.2×20.2×100%$68.8M$16.94B−3%
BankrDistribution20.3×8.8×86%$237k$25.1M−85%
deBridgeBuyback20.8×15.6×75%$340k$86.1M−13%
ApeX ProtocolMixed21.2×15.9×100%$145k$28.2M−21%
Yield Basisve / bribes22.1×7.8×100%$148k$14.0M41.0×
SkyMixed26.7×8.4×42%$5.5M$1.34B−3%
RaydiumBuyback27.1×16.8×62%$1.3M$425.4M−65%
Curve Financeve / bribes29.3×11.1×94%$2.6M$374.4M+44%
Collector CryptBuyback + burn35.3×0.9×3%$392k$168.2M−5%
GMXDistribution37.0×13.5×73%$354k$79.6M+15%
Maple FinanceBuyback37.2×7.4×20%$326k$147.5M+14%
UniswapBuyback + burn37.3×37.3×100%$8.2M$3.71B−20%
Convex Financeve / bribes47.5×13.8×95%$881k$155.5M0%
OrcaBuyback47.8×7.9×16%$130k$75.6M−36%
AsterBuyback + burn50.2×∞—$2.8M$1.69B—
JupiterBuyback50.2×15.9×32%$1.4M$856.4M−32%
dYdXDistribution51.6×25.8×100%$240k$75.2M−15%
VeniceBuyback + burn68.7×68.7×100%$1.1M$941.4M+22%
KinetiqMixed84.8×37.3×59%$133k$103.2M−37%
RailgunDistribution86.5×28.1×66%$202k$116.7M−9%
Pendleve / bribes104×37.2×72%$411k$260.0M+39%
Render Network BMEthis tokenBurn122×86.6×95%$751k$832.8M+240%
ChainlinkBuyback152×147×100%$4.3M$7.66B−2%
MeteoraDistribution180×5.2×18%$458k$161.9M−60%
NEAR ProtocolBuyback206×194×94%$1.8M$4.51B−18%
LiquityDistribution1.2k×8.2×80%$128k$15.8M+409%
BONK.funMixed∞11.7×95%$1.5M$233.7M−67%
Score build-up53 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

53of 100#11▲1top 20%
Valuation 17.5Momentum 12.5Divergence 10.0Quality 12.8= 52.8
Valuation35%
50Valuation 50.0: HR half 0.0 (multiple 121.53×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 100.0 (revenue peer value 4.98×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.
Momentum25%capped
5057 before the peak capMomentum 57.0: m = 0.5·g7 −0.012 + 0.3·(ln(day jump 0.75) clamped ±1.5 = −0.282) + 0.2·g30 1.223 = 0.154; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.
Divergence20%capped
50100 before the peak capDivergence 100.0: d = g30 − p30 = 1.573; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.
Quality20%
64Quality 63.9: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 19% of HR30 → 91.6 (0 at ≥60%, 100 at ≤15%), distance to peak 0.13 → 0.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

HR7 is below 50% of its 90-day peak: momentum and divergence are capped at 50. This is not a penalty; the distance already counts in quality.

Penaltiesnone

No penalty applies — 10 rules checked, 3 wait for research data

Where the numbers come from
Revenue source
1 active child
DefiLlama adapter per child
Price and market cap
defillama / defillama
latest fetch
Scored on
November 11, 2026
as-of date of the last compute run
On-chain verified
yes
checked Nov 12
Protocols behind this token1 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

  • Render Network BME
    DePIN · Solana
    type burn · source label
    “Job Payments to $RENDER burn: 95% of gross job fees allocated to $RENDER burn on Solana (observed as SPL burns from the burn wallet).”

    Includes 95% of the fees that is burnt

    Job Payments to $RENDER burn
    95% of gross job fees allocated to $RENDER burn on Solana (observed as SPL burns from the burn wallet).
    adapter on GitHub ↗