Vana is an EVM-compatible Layer 1 blockchain that turns human data as a new onchain asset class, enabling individuals to securely own, govern, and monetize their data while breaking centralized data silos to power better AI models and applications.
VANA is Vana's native utility and governance token, which has the following functions:
Network Security: Validators stake VANA to secure the blockchain and validate transactions, ensuring network reliability and stability.
Transaction Fees: VANA is required for all transactions on the network, including smart contract executions, data operations, and interactions with DataDAOs, serving as the ecosystem's primary medium of exchange.
DataDAO Staking: Users stake VANA to support high-performing DataDAOs, earning emissions and influencing the eligibility of top DataDAOs for rewards. This mechanism incentivizes competition and improves data quality.
Default Data Access Currency: VANA is the default token for accessing DataDAO-managed datasets, which can be swapped for other tokens by buyers, sellers, or agents, enabling seamless data use across various applications.
Trading Pair: VANA serves as the primary trading pair for tokens issued by DataDAOs, ensuring smooth interoperability and liquidity within the ecosystem.
Governance: Token holders vote on proposals and network parameters, contributing to decentralized decision-making. Governance will transition to the community through the Vana DAO, enabling shared ownership and control.
The protocol consists of the following major components working in conjunction:
Decentralized Data Network: The network consists of two primary layers that ensure data ownership, security, and usability:
Data Liquidity Layer: Where DataDAOs operate. Designed to introduce data on-chain as transferable digital assets.
Data Portability Layer: For user-owned data applications powered by verified data.
DataDAOs: Also known as Data Liquidity Pools (DLPs) are decentralized communities where data is contributed, tokenized, and made available for use in various applications, such as AI model training.
By pooling data from multiple contributors, DataDAOs create a liquid marketplace for data, allowing it to flow securely and efficiently within the Vana ecosystem.
Validators: There are two distinct roles within the Vana network:
L1 Validators: Who ensure blockchain security and consensus.
Satya Validators: who specialize in validating data contributions in DataDAOs through secure, trusted execution environments (TEEs).
Proof of Contribution (PoC): Mechanism in Vana is designed to validate data in a decentralized, privacy-preserving manner.
It ensures that only authentic, high-quality, and unique data is added to DataDAOs, allowing contributors to benefit from the value their data generates, while protecting their privacy.
Vana has raised $25 million through three funding rounds, with a $2 million Seed round led by Polychain, an $18 million Series A led by Paradigm, and a $5 million Strategic round led by Coinbase Ventures, representing 14.26% of total token supply.
As at December 15th 2024, the max supply of VANA is 120,000,000 and the circulating supply upon listing will be 30,084,000 (~25.07% of the total token supply).
Key metrics (as at December 15th 2024)
1. What is Vana?
1.1. Project Mission & Value Proposition?
Project mission:
Vana's mission is to unlock AI innovation by breaking through the AI "Data Wall," which currently limits access to valuable private data needed for building better AI models.
Private data is one of the world's most valuable resources in a world driven by AI, however individuals who generate it receive little benefit from it and AI researchers struggle to get it.
Vana enables users to securely pool their data in DataDAOs, unlocking its value collectively. Vana positions data as a new asset class, empowering individuals to own, govern, and monetize their personal data while ensuring portability and control through private key permissioning.
By decentralizing data ownership, Vana breaks the monopolies held by centralized platforms and data brokers in Web2, removing intermediaries and creating fair, efficient markets for data access and monetization to the benefit of users and developers alike.
Value Proposition:
For Users: Vana enables individuals to earn income by contributing their data through decentralized DataDAOs, while also providing true ownership and portability of their data, allowing them to unlock value beyond monetary rewards.
For Developers and Researchers: Vana provides access to high-quality, user-owned datasets that are transparent, portable, and collectively governed, helping them overcome inefficiencies in current data markets and build better AI models.
For the Ecosystem: Vana removes intermediaries, creates efficient markets for data, and ensures that data contributors are fairly rewarded, aligning incentives across all participants in the AI economy.
1.2. Project Key Highlights
Vana Launches Testnet (June 11th 2024): Vana’s first testnet goes live, the first network purpose-designed for user-owned data.
Vana Launches DataDAO Pre-Mining (July 30th 2024): Vana launches TG Mini-App to allow early data contributors to pre-register for early DataDAOs.
Vana Officially Announces Aurora Cohort (Aug 29th 2024): Vana unveils first batch of DataDAOs building on Vana Testnet.
Vana Announces Strategic Round (Sep 18th 2024): Vana announces $25 million in total funding after close of strategic round with Coinbase Ventures leading.
Vana Announces Launch of Vana Foundation (Nov 21st 2024): Vana announces launch of Vana foundation to launch Vana Mainnet
Vana Launches DataHub (Nov 30th 2024): Vana launches DataHub, allowing users to pre-register for Vana’s core mainnet experience.
Vana Launches Whitepaper (Dec 4th 2024): Vana introduces whitepaper: An Open Protocol for Data Sovereignty.
Vana Announces $VANA Token Launch (Dec 4th 2024): Vana announces the upcoming launch of the $VANA token, as well as its purpose and functions in the network.
1.3. Existing Products
Core Infrastructure:
EVM-compatible Layer 1 blockchain for private, user-owned data.
DataHub: Platform to contribute data and stake with DataDAOs.
Block explorer for network transaction monitoring.
DataDEX: Decentralized exchange for data tokens.
Active DataDAOs:
Social Media: Twitter DAO, Reddit DAO, GPT DAO (synthetic data).
Financial: Finquarium (market data), DataPIG (analytics), Contango (e-commerce).
Health: DNA DataDAO (genetics), MindDAO (mental health), Oura DAO (sleep data).
Professional: Resume DAO (career data), YKYR (browser data).
Specialized: VanaTensor (AI preferences), Syd (cybersecurity), DIMO DAO (vehicle data).
Developer Tools:
AI agent platforms including Flur.sh.
SDK for DataDAO development.
API suite for data validation and access.
TEE integration tools for secure computation.
User Stats (As at December 15th 2024):
2 million users
6.5 million data points contributed to AI so far
111k Discord members
300k Twitter followers
Network Stats (As at December 15th 2024):
300+ DataDAO builders
20+ user-owned data apps
2,500+ verified contracts deployed
2. Technical Infrastructure:
Data Token System:
Each DataDAO, implemented as a Data Liquidity Pool, issues data tokens for dataset access rights and governance.
Data tokens have customized tokenomics based on specific dataset characteristics.
DeFi primitives supported on top of data tokens: futures, options, lending, and yield generation.
All data tokens paired with VANA for standardized trading.
Top DataDAOs earn emissions:
The top 16 DataDAOs by VANA staked earn a share of emissions for onboarding data to the network.
The 16 parameter is governable and can be increased over time.
Privacy & Validation:
Privacy-preserving validation through TEE-based secure computation.
Two validation paths: local zero-knowledge proofs or TEE verification.
Satya Network of specialized validators ensures data quality.
Smart contracts enforce access control and permission management.
Transaction Types:
Data operations: contribution, validation, and access management.
Token operations: trading, staking, and DataDAO governance.
Market operations: dataset licensing and DataDAO creation.
All transactions require VANA fees for network operations.
3. Token sales and economics:
3.1. Token Distribution:
Note: Binance Launchpool (4.00% of max supply comes from the Community allocation.
3.2. Token Release Schedule:
4. Roadmap & Updates:
4.1. Completed Milestones:
4.2. Current Roadmap:
Q4 2024: Phase 1 - Building Data Liquidity
Mainnet Launch: Roll out the mainnet with a decentralized infrastructure, including DataDAOs from the Aurora Cohort.
Focus on Data Contributions: Onboard early community of data contributors via community initiatives to foster a vibrant data ecosystem, incentivize high-quality data contributions, and ensure collective participation.
Early Adoption Incentives: Implement DLP Staking program to reward community for ensuring high-quality data on the ecosystem and incentivize performance of DataDAOs.
Q1 - Q2 2025: Phase 2 - Accelerating AI Innovation and Applications
Ecosystem Expansion: Scale the ecosystem by onboarding several cohorts of additional Data DAOs and enabling third-party developers to build data-driven applications.
AI Applications Launch: Deploy data portability and data-powered AI agents and applications through key ecosystem partnerships.
Platform Upgrades: Enhance scalability to accommodate increased data throughput and improve security features to protect user data and platform integrity.
Revenue Integration: Accelerate Web2 data demand infrastructure by deepening integration with demand aggregation ecosystem entities and partners.
Q3 - Q4 2025: Phase 3 - Decentralization and Governance
Community Governance: Expand opportunities for user engagement in governance, incentivizing greater participation and alignment with ecosystem goals.
Emission Tapering: Begin gradually reducing VANA token emissions as the network shifts toward a reward model supported by transaction fees.
Q1 - Q2 2026: Phase 4 - Network Expansion
Cross-DLP Integrations: Focus on seamless integration between Data Liquidity Pools to maximize data liquidity and interoperability.
Cross-Chain Interoperability: Begin connecting Vana with other blockchain networks, enabling multi-chain functionality and extending the ecosystem’s reach.
4.3. Commercial and Business Development Progress:
Flower AI (Tweet by Flower AI founder on how Flower AI allows for pre-training AI models across the Vana DataDAOs): Federated learning, analytics, and evaluation for user-owned data.
Talus Network (Announcement): A next-generation Layer 1 blockchain focused on building on-chain multi-agent systems.
Autonomys Network (Announcement): A secure, permanent distributed storage network aimed at creating a comprehensive infrastructure for decentralized AI.
Reclaim Protocol (Announcement): A leader in zero-knowledge proof .technologies, providing zkTLS infrastructure to enhance data verification options.
Gaia (Announcement): A decentralized AI platform dedicated to transforming knowledge into a dynamic, secure, and collaborative ecosystem.
Chirper (partnership still in progress): Creating the world's most intelligent and connected AI agents powered by unprecedented data integration on Vana’s blockchain for user-owned data
TensorSource (partnership still in progress): Ecosystem partner that buys data, connecting user-owned data within DataDAOs to real-world web2 and web3 applications.
5. Community:
6. Appendix:
