What is Vana? Layer1 blockchain project makes profit from AI model

Vana Network - A Pioneering Solution for Data Ownership in the AI Era

Introduction to Vana Network

In the context of the growing development of blockchain technology and artificial intelligence (AI), personal data has become one of the most valuable assets. However, the challenge of exploiting data without compromising privacy is not an easy one to solve.

Vana Network emerges as a breakthrough solution, providing a decentralized Layer1 blockchain platform that empowers users to freely control their own data. By transforming data into a liquid asset within the AI ecosystem, Vana Network promises to deliver unique value.

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Vana's Infrastructure

Vana's architecture consists of three main components, each playing a crucial role in the infrastructure:

1. Data Liquidity Layer: Collects, verifies, and manages user-contributed data.
2. Data Portability Layer: Converts data into blockchain-based assets, enabling value extraction.
3. Vana Chain: The Layer1 blockchain that manages transactions on the network.

Data Liquidity Layer

The Data Liquidity Layer focuses on collecting, verifying, and managing contributed data. Data Liquidity Pools (DLPs) have specific verification rules. Participants receive rewards based on data quality and the verification process.

In addition to rewards, users have governance rights over their data, including deciding how it is used. The project employs security techniques like ZKP and TEE technology to ensure privacy.

Data Portability Layer

Acting as a data trading platform, the Data Portability Layer connects data providers and developers.

• Users: Share data to receive rewards.
• Developers: Leverage data for AI model training.

Vana Chain

The EVM-compatible network operates on a Proof-of-Stake (PoS) consensus mechanism. Validators must stake a minimum of 35,000 VANA tokens to participate in network security.

Key Functions of Vana

1. Data Validation:
   • Contributed data is verified through a Proof of Contribution (PoC) mechanism, ensuring authenticity, ownership, quality, and uniqueness.
2. Data Tokenization:
   • After verification, data is tokenized and can be traded or utilized within the ecosystem. Each DataDAO issues its own token, rewarding contributors of valuable data.
3. Trading and Governance:
   • DataDAO tokens allow users to participate in data governance and trade data as an asset within the Vana ecosystem.

DataDAOs - A Decentralized Data Marketplace

1. Data Contributors: Submit data to DataDAOs and receive governance rights and rewards.
2. Data Consumers: Access verified data sets for AI training or other purposes.
3. Satya Network: A cluster of secure computing nodes that verify the quality and integrity of data within DataDAOs.

DataDAOs incentivize high-quality data contributions and provide transparent mechanisms for data utilization in training and applications.

VANA Token Information

• Token Name: Vana
• Ticker: VANA
• Total Supply: 120 million VANA
• Listing: Binance Launchpool, December 13, 2024

• BNB Pool: 4,080,000 VANA
• FDUSD Pool: 720,000 VANA

Trading pairs include: VANA/USDT, VANA/BNB, VANA/FDUSD, VANA/TRY.

Token Utility

1. Network Security: Validators stake $VANA to ensure secure and stable transactions, receiving staking rewards in the process.
2. Transaction Fees: $VANA is used to pay for transactions within the ecosystem, including data operations and smart contract execution.
3. DataDAO Staking: Users can stake $VANA in DataDAOs to receive rewards, supporting DataDAOs in adding data resources to the ecosystem.
4. Data Access Currency: $VANA serves as the default payment unit to access data sets managed by DataDAOs.
5. Primary Trading Pair: $VANA acts as the primary trading pair for all tokens issued by DataDAOs.
6. Governance: $VANA holders participate in voting and decision-making on important policies within the ecosystem.

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Tokenomics

• Allocation:
  • Core Contributors: 18.8%, locked for 12 months, unlocked gradually over 48 months.
  • Community: 44%, 20.3% released at TGE, unlocked gradually over 36 months.
  • Investors: 14.2%, locked for 12 months, unlocked gradually over 36 months.
  • Ecosystem: 22.9%, 4.8% released at TGE, unlocked gradually over 48 months.

Usage Details:

• Community: Incentivize participation, reward data contributions, airdrop to early users, support developers.
• Ecosystem: Provide capital for development, support DataDAO, network partners, and decentralization incentives.
• Investors: 4-year vesting (1-year cliff, 3-year gradual unlock).
• Core Contributors: 5-year vesting (1-year cliff, 4-year gradual unlock).

4 Phases of Token Issuance:

1. Building Data Liquidity (0-6 months):
   • Attract DataDAO and data contributors.
   • Reward primarily to DataDAO and early users.
2. Driving AI and Applications (6-12 months):
   • Incentivize AI agent and application development.
   • Utilize fee revenue to fund issuance.
3. Decentralization and Governance (12-18 months):
   • Transition to community governance.
   • Reduce issuance, increase rewards from transaction fees.
4. Network Expansion (18-24 months):
   • Focus on sustainable growth and DLP integration.
   • Issuance based on demand, reduce token emissions.

Vana Project Investors

1. Strategic: $5 million (9/18/2024, Coinbase Ventures).
2. Series A: $18 million (12/1/2022, Paradigm, Polychain Capital).
3. Seed: $2 million (12/1/2021, Polychain Capital).