Binance announces the launch of Launchpool project number 62 Vana (VANA), fellow holders prepare to receive salary.$BNB get ready to receive salary.
Vana is an open and decentralized protocol aimed at restoring control over personal data, turning user data into a new digital asset in the global AI economy.
This is one of the promising projects at the end of 2024 and has great potential in 2025, so let's explore what makes the project (Vana) special.
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1. What is Vana Token (VANA)?
Vana is an open and decentralized protocol designed to restore users' control over their personal data while opening up a new layer of digital assets in the global AI economy. This is a blockchain network compatible with EVM (Ethereum Virtual Machine) that empowers individuals over their data, allowing for secure and private data transactions at both individual and collective levels.
How $VANA Token Works
Network Security:
Validators will stake $VANA to ensure the integrity of the Vana blockchain, receiving staking rewards, but in the early stages, all validator rewards will be redirected to the public welfare fund to support ecosystem development.
Transaction Fees:
$VANA is the currency used to pay transaction fees on the network, including activities related to data, executing smart contracts, and interacting with DataDAOs.Staking in DataDAO:
Users can stake $VANA to support and earn rewards from DataDAOs, encouraging the contribution of high-quality data into the ecosystem. The top 16 DataDAOs based on the amount of $VANA staked will receive special rewards.Default Data Access Currency:
$VANA is used to access datasets managed by DataDAO, which can be exchanged for other tokens at will.Trading Pair:
$VANA is the primary trading pair for tokens issued by DataDAO, facilitating the exchange and interaction between components of the ecosystem.Governance:
$VANA holders have the right to vote on governance decisions of the network, including development and treasury management.
Data Token EcosystemVana Network supports a dynamic ecosystem where DataDAOs can issue their own tokens linked to specific datasets or rights. $VANA serves as the foundational token connecting these activities, promoting collaboration and creating a robust data economy.
TOKEN ALLOCATION FOR THE PROJECT (VANA):
Total Supply:120 million $VANA, distributed as follows:Community: 44% (20.3% released from the start), aimed at encouraging participation and rewarding high-quality data contributions.
Ecosystem: 22.9% (4.8% released immediately), allocated for development activities, funding, and encouraging the long-term growth of the network.
Investors: 14.2% (not released immediately, with a 4-year vesting), reserved for early supporters.
Core Contributors: 18.8% (not released immediately, with a 5-year vesting), rewarding the team that has been and is developing Vana.
Community (Vana)
Vana Network prioritizes the community by encouraging participation and honoring contributions. Rewards are given to those who provide quality data for DataDAO, early users receiving airdrops, and developers building on this platform. The future will see more reward programs aimed at maintaining engagement and ensuring the community aligns with Vana's vision.
Ecosystem (Vana)
Allocation for Vana's Ecosystem to ensure sustainable protocol development through grants and rewards encouraging long-term growth. This includes support for launching DataDAOs, funding new DataDAO tokens, creating strategic partnerships, and block rewards to promote decentralization, innovation, and increased adoption.
Investors (Vana)
Early investors in Vana will benefit from a 4-year vesting policy, including a one-year waiting period and then 3 years of unlocking, ensuring long-term commitment and benefits for both investors and the ecosystem.
SPECIFIC STAGES
Stage 1: Data Flowing (0-6 months)
Focus: Activating DataDAOs, attracting data contributions.
Emission: Incentives for initiators and early users.
Stage 2: AI Ascendant (6-12 months)
Focus: AI owned collectively.
Emission: Transaction fees drive rewards for creativity and AI contributions.
Stage 3: Community Empowerment (12-18 months)
Focus: Transferring governance to the community.
Emission: Gradually decreasing, enhancing community control.
Stage 4: Broad Ecosystem (18-24 months)
Focus: Sustainability and linking DLP.
Emission: According to demand, aiming for stable deflation.
HOW TO PARTICIPATE IN BINANCE VANA LAUNCHPOOL TO EARN FREE
VANA Token is expected to be listed on Binance at 5:00 PM on December 16, 2024 (Vietnam time) with trading pairs VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY. Additionally, Seed Tag will be applied to VANA.
Details about Launchpool VANA:
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Vana Token (VANA) - Detailed Information
Token Name: Vana (VANA)
Total Maximum Supply: 120,000,000 VANA
Genesis Supply: 112,641,600 VANA (93.87% of total supply)
Launchpool Reward: 4,800,000 VANA (4% of total supply)
Initial Circulating Supply when listed on Binance Spot: 30,084,000 VANA (25.07% of total supply)
Staking Terms: Identity verification required (KYC)
Hourly Reward Limit for Each User:
BNB Pool: 8,500 VANA
FDUSD Pool: 1,500 VANA
Pools and Farming Timelines:
Supported pools:
Locking BNB (the website will be ready in about 12 hours): Rewards are 4,080,000 VANA (85%)
Lock FDUSD (the website will be ready in about 12 hours): Rewards are 720,000 VANA (15%)
Daily VANA Distribution:
During the farming period, daily VANA distribution is as follows:
Total Daily Rewards: 2,400,000 VANA
Daily Rewards BNB Pool: 2,040,000 VANA
Daily Rewards FDUSD Pool: 360,000 VANA
Summary and perspective:
Binance's recent launchpool project seems to be of high quality, $VANA is a project ending in 2024 timing and is one of the major projects in the next season.
Fellow holders$BNB this season is no different from kings receiving salaries continuously.
