Source: Jinse Finance, Vana website, whitepaper, Twitter Compiled by: Jinse Finance
On December 13, 2024, Binance announced the launch of the 62nd project on Binance Launchpool - Vana (VANA), a native EVM-compatible L1 blockchain for user-owned data. Users can deposit BNB and FDUSD into the VANA reward pool on the Launchpool website after 8:00 AM (UTC+8) on December 14, 2024 to earn VANA. The VANA event will last for 2 days.
Reminder: Binance will be the first platform to list this token, and any claims of selling this token before the specified timeline are false advertisements.
New Coin Listing
Binance will list Vana (VANA) at 6:00 PM (UTC+8) on December 16, 2024, and open VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY trading markets, subject to the seed label trading rules.
I. Launchpool Details
Token Name: Vana (VANA)
Total Initial Token Supply: 112,641,600 VANA (93.87% of the maximum token supply)
Maximum Token Supply: 120,000,000 VANA
Initial Circulating Supply on Binance Listing: 30,084,000 VANA (25.07% of the maximum token supply)
Launchpool Total: 4,800,000 VANA (4% of the maximum token supply)
Network Details: Vana Network Explorer
II. Introduction to Vana (VANA)
1. What is Vana?
Vana is a distributed, private user data network aimed at realizing user-owned AI. Users own and manage the AI models they contribute to and profit from them. Developers can access cross-platform data, support personalized applications, and train cutting-edge AI models.
Vana originated from a research project at MIT in 2018, dedicated to empowering users to own their data and the AI models they create. It is fully open-source and operates as a permissionless, decentralized network. The Open Data Foundation is committed to driving large-scale adoption of the Vana protocol, while other contributing organizations like Corsali focus on research and development.
In the Web2 era, platform companies commercialize by freely collecting user data. For example, ByteDance's Jinri Toutiao can generate hundreds of billions of RMB in advertising revenue per year. Even when content creators on the platform receive a certain revenue share, the core interests are still firmly controlled by the company.
In the Web3 era, this phenomenon has become more pronounced. Reddit earned $203 million in 2024 by signing data licensing agreements with AI companies, but the users who contributed content received almost no benefits. This imbalance has driven the emergence of Vana.
2. Technical Architecture
Just as Bitcoin achieved trustless value transfer and Ethereum achieved programmable state transitions, Vana achieves programmable data ownership, with the core principle of personal data sovereignty.
2.1 The Double-Spending Problem of Data
The key challenge in monetizing data assets is that, unlike other digital assets, the economic value of data depends on controlled access - once the data becomes public, its market value is lost. Traditional blockchains emphasize public verification, and are therefore not suitable for handling private data. Vana solves this problem by combining private data custody and public ownership records.
The blockchain maintains the following global states:
• Data Ownership Records: Cryptographic proof of data ownership
• Access Permissions: Who can access what data, and under what conditions
• Verification Proofs: Proof of data quality and authenticity
• On-chain Data Collective Contracts and Token Balances: Economic rights and governance
Although the data itself is stored on encrypted personal servers or trusted secure enclaves, the blockchain allows programmatic control of data access conditions and how rewards flow back to data creators.
2.2 Core Components
Personal Servers provide the secure foundation for data sovereignty, where users can choose to run these servers on local devices, trusted service providers, or lightweight clients.
Data Liquidity Pools (DLPs) act as the coordination layer for collective data assets, managing data verification rules, access permissions, and token distribution.
Trusted Execution Environments (TEEs) provide the trusted execution environment for private computations, completing complex operations without exposing the data.
2.3 State Transitions of the Data Economy
Vana solves the "double-spending" problem of data by combining privacy protection and programmable access rights. Data transactions are viewed as state transitions, with each transaction updating the global state while handling both data and economic transactions.
These technical foundations provide the support for the creation, governance, and large-scale monetization of collective data assets.
3. Vana's Vision
Vana's goal is to break the existing data economy model, allowing users to regain ownership and control of their own data, and to profit directly from training AI models with their data, becoming the masters of their own data.
III. Founding Team
Vana was co-founded by two Filipino entrepreneurs, Anna Kazlauskas and Art Abal:
Anna Kazlauskas: With a background in computer science and economics, she was an early Ethereum miner and has conducted data research at international financial institutions. She also served as a policy advisor to the Prime Minister of East Timor, designing an egalitarian legal system.
Art Abal: A Harvard University public policy graduate, he previously led innovative data collection methods at the AI training data provider Appen.
The two have collaborated on the TOCA project, which provided low-income Filipinos with opportunities to earn rewards by contributing data, laying the foundation for Vana's development.
IV. Token Economics
VANA is the native token of the Vana Network, powering its ecosystem and supporting a secure, user-owned, and decentralized data economy. It plays a core role in the network's multi-token ecosystem.
Supply Overview
• Total Supply: 120,000,000 $VANA
• Ecosystem & Community Allocation: 66.9%
• Initial Circulating Supply at TGE: 28.5%
VANA Token Utilities
• Network Security: Staking to support the validator mechanism, protecting network security.
• Governance Voting: Token holders can participate in governance decisions.
• Transaction Fees: Used to pay for network operations.
• DataDAO Participation: As a core participation tool for the Data Liquidity Pools.
• Data Access Currency: Used to purchase and trade data access rights.
The total VANA token supply is 120 million, with 44% allocated to the community (36-month unlock), 22.9% to the ecosystem (48-month unlock), 18.8% to core contributors (1-year partial unlock + 4-year unlock), and 14.2% to investors (1-year partial unlock + 3-year unlock). The initial circulating supply at TGE is 28.5%.
