What is Vana (VANA)? The 62nd Project on Binance Launchpool

What is Vana (VANA)?

Vana is a native EVM-compatible Layer 1 blockchain designed to empower users with ownership and control over their data. Built to address the growing demand for decentralized, user-centric solutions, Vana combines the efficiency of Ethereum Virtual Machine (EVM) compatibility with a mission to redefine the way data is managed and monetized.

Vana operates as a scalable and secure blockchain network, providing developers and users with a decentralized infrastructure tailored for applications that prioritize user autonomy and data privacy. Its design emphasizes speed, scalability, and user empowerment, offering a robust foundation for building decentralized apps (dApps).

Key Benefits of Vana

• Data Ownership: Users retain full control over their data and its usage.
• Tokenized Data: Data is converted into secure, tradable assets.
• Privacy & Security: Advanced technologies like Trusted Execution Environments (TEEs) and Zero-Knowledge Proofs (ZKP) ensure data remains private and secure.
• Decentralized Governance: Participants influence the network’s development through on-chain voting.

About VANA Network

The VANA Network is built on two key layers:

1. Data Liquidity Layer: This foundational layer treats data as a liquid asset. It validates, tokenizes, and facilitates data trading through decentralized markets known as DataDAOs.
   • Data Validation: Ensures the quality and uniqueness of data via Proof of Contribution mechanisms.
   • Data Tokenization: Converts validated data into tradable tokens for decentralized applications (dApps).
   • DataDAOs: Act as marketplaces where users can contribute, govern, and profit from their data assets.
2. Data Portability Layer: The application layer that ensures data remains interoperable across platforms and systems while maintaining user control.
   • Cross-Application Sharing: Enables secure, seamless data movement between services.
   • Interoperability: Supports compatibility with multiple ecosystems.
   • dApps Integration: Powers applications like AI models and data-driven tools.

The Vana L1 serves as an open, real-time record of data flow within the ecosystem.

VANA token ($VANA)

The VANA token ($VANA) is the native currency powering the VANA ecosystem. With a capped supply of 120 million tokens, $VANA is central to network operations and incentivizes user participation.

Token Utilities

• Network Security: Validators stake $VANA to secure the network, earning rewards in return for ensuring its stability.
• Transaction Fees: $VANA is used for all operations within the network, including smart contracts and DataDAO interactions.
• DataDAO Support: $VANA tokens are staked in DataDAOs to support data liquidity pools, rewarding contributors for their valuable data. 
• Governance: $VANA token holders participate in decentralized governance by voting on proposals, influencing the network’s future direction.
• Data access currency: $VANA is the primary currency for accessing datasets within DataDAOs, enabling the use of tokenized data in various applications.

Token Supply & Distribution

• Max Supply: 120,000,000 $VANA
• Genesis Token Supply: 112,641,600 $VANA (93.87% of max supply)
• Initial Circulating Supply at Launch: 30,084,000 $VANA (25.07% of max supply)

The tokenomics of VANA are designed to incentivize active participation in the ecosystem, rewarding early contributors and staking participants. This strategic distribution supports long-term growth and development for the Vana network, which aims to bring real value to users through decentralized data ownership and monetization. The distribution of $VANA token is as follows:

VANA Launchpool Details

Binance Launchpool is offering users the chance to farm VANA tokens as part of its latest project. Starting on 2024-12-14 at 00:00 (UTC), users can stake BNB or FDUSD in designated pools to earn VANA tokens as rewards. A total of 4,800,000 VANA, representing 4% of the total token supply, will be distributed during this event.

Here’s how the reward allocation is structured:

• BNB Pool: 4,080,000 VANA (85% of total rewards).
• FDUSD Pool: 720,000 VANA (15% of total rewards).

Take note that the farming period is only lasting to 2024-12-15 at 23:59 (UTC).

VANA Farming Accumulation

During the two-day farming period, Binance users who stake their BNB or FDUSD will accumulate VANA tokens hourly. The event features hourly limits to ensure fairness:

• BNB Pool: Maximum of 8,500 VANA per user per hour.
• FDUSD Pool: Maximum of 1,500 VANA per user per hour.

This is a unique opportunity to acquire VANA tokens before their wider release, so stake early to maximize your rewards.

About Binance Launchpool

Binance Launchpool is a platform that allows users to earn new tokens by staking their existing assets like BNB, FDUSD, and more. It supports innovative blockchain projects by offering them visibility and early adoption within Binance’s ecosystem.

How to Participate in Launchpool

1. Log In to Binance: Ensure your account has completed KYC verification.
2. Go to Launchpool: Navigate to the Launchpool section under the “Earn” tab.
3. Select the Pool: Choose between BNB or FDUSD pools.
4. Stake Your Assets: Lock your BNB or FDUSD to start farming VANA.
5. Claim Rewards: Accumulate VANA tokens over the farming period and claim them directly in your wallet.

Conclusion

Vana’s debut on Binance Launchpool signals the emergence of a new paradigm in the digital economy—one where data ownership shifts from corporations to individuals. With its innovative use of blockchain technology and a focus on user empowerment, Vana is poised to redefine how data is owned, shared, and monetized.

Don’t miss the chance to participate in this transformative project and farm $VANA tokens on Binance Launchpool starting December 14, 2024.