Vana/VANA#253 0

What is VANA (VANA) Crypto?

Vana Network is an Ethereum-compatible Layer 1 blockchain that lets people own, share, and monetize their data while doing so privately and safely. Users contribute their data to DataDAOs where it is aggregated, governed, and then applied for training AI models and decentralized applications (dApps).

The Vana ecosystem consists of two principal layers: 

• The Data Liquidity Layer for the validation, tokenization, and trading of data through DataDAOs 

• The Data Portability Layer governs cross-platform data interoperability. 

Data contributed by users are validated through Proof of Contribution and are converted as tokenized assets, which are to be utilized for AI modelling, dApps, and data-intensive applications. Privacy enforcement is accomplished through Zero-Knowledge Proofs and Trusted Execution Environments. 

User-Owned Data Economy: Individuals share data at no cost to themselves and always retain control.

DataDAO Governance: Contributors participate by staking $VANA to supply decentralized data pools.

AI & dApp Development: Developers can use structured, decentralized datasets to build innovative AI models.

Privacy-Preserving Mechanisms: Secure, permissionless data transactions.

What is the VANA Token?

VANA ($VANA) is the native token of the Vana Network, an EVM-compatible blockchain designed to facilitate decentralized data use and AI-driven applications. The network facilitates secure, user-controlled data transactions, which support a privacy-focused and permissionless data economy.

The $VANA token serves many purposes within Vana Network: it is for transaction fees and executing smart contracts and data transactions. Validators stake $VANA to secure the network, while DataDAO participants stake and earn rewards. Also, holders of $VANA tokens have their say in governance decision-making to propel network upgrades and policy-making efforts.

Emission phases for VANA tokens

The Vanatoken proposes a structured 24-month emission plan, distributing tokens in four phases progressively, going from incentivizing early contributors to the long-term sustainability of the network.

Build Data Liquidity (0-6months) - Initial distribution goes towards early data contributors and DataDAO creators.

AI Innovation (6-12 Months): Allocated for AI developers and data utility projects.

Decentralization (12-18 months): Will be moved to community-led governance, reducing emissions.

Network Expansion (18-24 months):  A shift to a reward model based on demand to guarantee sustainability.

In December 2024, the Vana Network disclosed its token plan. On December 13, 2024, Binance presented VANA as its 62nd project on its Launchpool platform, marking an important progress forward. 4,800,000 VANA tokens were set aside as rewards for participants in Launchpool as part of the launch (equivalent to 4% of the total supply). Afterward, on December 16, 2024, Binance officially listed VANA for trading, and some of the initial trading pairs included VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY. This listing created an opportunity for users to acquire and trade VANA tokens within the Binance ecosystem. 

Where to buy a VANA Token?

You can buy VANA Token from several popular cryptocurrency exchanges that offer high liquidity and multiple trading pairs. Some of the top exchanges where VANA is actively traded include Binance, Upbit, Gate.io, Bithumb, MEXC, Bybit, LBank, BingX, KuCoin, and CoinDCX. These platforms support various trading pairs such as VANA/USDT, VANA/KRW, VANA/BNB  etc making it accessible to global users.

VANA Supported Wallets

Some of the best wallets for storing VANA include Trust Wallet, Ledger, imToken, MetaMask, Torus, Coinbase, TokenPocket, and iToken Wallet. Each wallet has its own advantages.