Binance has unveiled a new project in Launchpool, $VANA. Vana is the 62nd project in the Launchpool series, which allows users to collect new digital currencies for free by staking specific currencies such as BNB and FDUSD.
VANA will be listed on Binance on December 16, 2024. But before the listing, you can take advantage of the Launchpool to get the coin before the listing. In this article, I will explain all the details.
What is the VANA project?
The VANA project is a layer-one blockchain network compatible with the Ethereum Virtual Machine. The main goal of the network is to enable users to own and share their data in a decentralized and secure manner.
All users can pool their data into DataDaos and then tokenize it and have governance rights over that data.
One example that the project put in the white paper is that you can share your health data to the DataDAO of any LLM AI model that uses this DataDAO and you will get a financial return from that, which gives you back sovereignty over your data and information.
We can summarize the advantages of the VANA network as follows:
Data Ownership: Users retain full ownership of their data, with full control over how it is used in apps.
Data tokenization: Data is converted into verifiable and tradable assets for use in decentralized AI and data-driven applications.
Privacy and Security: Zero-Knowledge Proofs and Trusted Execution Environments ensure the privacy and security of the data provided.
Decentralized governance: Participants contribute to defining the rules of the ecosystem and managing the operations of data pools through voting on the blockchain.
What is VANA coin?
VANA is the main currency of the Vana network, and plays a fundamental role in the operation of the network.
We can summarize the uses of VANA currency as follows:
Enhance network security
Network transaction fee currency
Storage in DataDAOs
Access to DataDAOs
Governance
VANA's business details:
Total supply: 120,000,000 pieces.
Total supply at listing: 30,084,000 units (25.07% of total supply).
Launchpool Allocation for Binance: 4,800,000 Tokens (4% of total supply).
How to get free VANA?
The VANA Launchpool will allow Binance users to earn free VANA by staking BNB and FDUSD.
Launchpool Details:
Participation period: from December 14, 2024 to December 15, 2024.
Total daily rewards: 2,400,000 coins.
Daily BNB rewards for participants: 2,040,000 tokens (85% of total rewards).
Daily FDUSD rewards for participants: 360,000 coins (15% of total rewards).
How to participate in Launchpool?
To participate in Launchpool:
Log in to your Binance account.
Head over to the Launchpool page and search for the VANA project.
Choose the currency you want to store (BNB or FDUSD).
Select the amount you want to store, and the rewards will start appearing in your account automatically.
Once the Launchpool period is over, you will be able to redeem the coins you staked along with the rewards you earned.
VANA Listing on Binance
After Launchpoo ends, VANA will be listed on Binance on December 16 at 1pm Mecca time. The listing will be on 4 trading pairs:
VANA/USDT
VANA/BNB
OLD/FDUSD
PRICE/TRY