TL;DR
- Binance has added Vana (VANA) to its Launchpool platform, a native Layer 1 blockchain compatible with Ethereum Virtual Machine (EVM) designed for data ownership and monetization.
- From December 14-15, 2024, users can lock BNB or FDUSD tokens to earn VANA rewards, with a total reward pool of 4.8 million VANA tokens.
- Trading for VANA will begin on December 16, 2024, with pairs including VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY, and the token will carry Binance’s Seed Tag, indicating its innovative yet volatile nature.
Binance, the world’s leading cryptocurrency exchange, has announced the addition of Valve (VANA) as the latest project on its Launchpool platform. VANA is a native Layer 1 blockchain compatible with Ethereum Virtual Machine (EVM), designed to empower users by enabling ownership and monetization of personal data.
This innovative project aims to revolutionize the way users interact with their data, providing a decentralized and user-centric ecosystem.
Farming and Rewards
Starting December 14, 2024, Binance users can lock BNB or FDUSD tokens to earn VANA rewards. The farming initiative will run for 48 hours, ending on December 15, 2024. With a total reward pool of 4.8 million VANA tokens, the farming process allocates 85% of the rewards to the BNB pool and 15% to the FDUSD pool. This distribution strategy aims to incentivize participation and ensure a fair allocation of rewards among users.
Trading and Market Introduction
Following the farming period, Binance will introduce trading for VANA on December 16, 2024, at 1:00 PM. The token will be available for trading in several pairs, including VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY.
However, it is important to note that VANA will carry Binance’s Seed Tag, highlighting its innovative yet volatile nature. This tag serves as a caution to investors, emphasizing the need for thorough research before investing.
Token Supply and Distribution
VANA’s maximum token supply is set at 120 million, with an initial circulating supply of over 30 million tokens. Farming participants should be aware of the fixed hourly reward caps, which include 8,500 VANA for the BNB pool and 1,500 VANA for the FDUSD pool. This structured approach ensures a controlled and transparent distribution of tokens, fostering trust and stability within the community.
Vision and Future Prospects
Valve aims to revolutionize blockchain technology by creating a user-centric ecosystem that prioritizes data ownership and decentralized application development. By enabling users to retain control over their personal data, VANA offers a unique value proposition in the blockchain space. The project’s success could pave the way for further innovations and set new standards for data privacy and security in the digital age.
