What is Vana (VANA)?
Vana is a Layer 1 blockchain project designed to provide liquidity for user data, enabling individuals to co-own, govern, and profit from AI models trained on their personal information. By tackling the double spending issue for data, Vana treats user data as a financial asset while maintaining privacy and control.
Key Features of Vana
Data Storage: Vana supports non-custodial data storage, allowing users to maintain control and verify data quality through established voting rights.
Platform Model: Users can train AI models on their devices and contribute to a Decentralized Autonomous Organization (DAO) that merges individual data components, rewarding participants based on data value.
Interoperability: Vana facilitates seamless data sharing across platforms while ensuring user privacy and security in data access.
Mechanisms of Operation
Data Liquidity Layer: Treats data as a liquid asset, ensuring validation and tokenization for secure trading within a decentralized ecosystem.
Data Portability Layer: Allows access and sharing of datasets across multiple applications while maintaining privacy, enabling users to control who accesses their data.
Connectome: A decentralized ledger that tracks data transactions using Proof-of-Stake, providing transparency and compatibility with EVM applications.
Basic Information about VANA Token
Token Name: Vana
Ticker: VANA
Total Supply: 120,000,000
Circulating Supply: 30,800,000
Utility of VANA Token
Network Security: Used for staking to validate transactions.
Transaction Fees: Used to pay for fees within the ecosystem.
DataDAO Staking: Users can stake tokens to receive rewards.
Access and Governance: Serves as the token for data access and allows holders to vote on governance proposals.
Storage and Airdrop
VANA tokens can be stored in various wallets, including MetaMask and Trust Wallet. An airdrop for Testnet participants was announced on December 16, 2024.