The Fever about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is an enormous base of information where we can do anything. Internet has connected the entire world.
Because of the access to the internet we are able to get information about one of the most incredible crypto-project which is known as VENA NETWORK
nitial coin offerings are still a novel form of fundraising and so it is understandably difficult to attain a perfect token economy. However, there are a number of projects that have developed a token utility model that successfully aligns with the success of the project.
A new blockchain project, Vena Network, is standing on the shoulders of giants to develop a token model that incorporates some of the best features available in the market. It aims to place a token utility that adopts the best features of the successful tokens so far.
First off, What is Vena Network?
Vena Network is a project developing an ecosystem in which the financial interactions (and trades) can be decentralized, while sustaining the degree of security needed to ensure funds are safe.
Vena Network utilizes Vena Nodes that can issue loans. Anyone who has the knowledge to successfully hold the role can attain this role if he or she (or it) stakes VENA tokens. As loans can be a complicated system and can sometimes fall into a gray zone, Vena Network will utilize a Jury Network, members of which would also need to stake tokens.
The staking of VENA tokens is what brings security to the platform as it ensures the decision makers are not just platform users, but are also token holders whose best interest aligns with the success of the platform. Thus, the VENA token plays an essential role in the platform.
A Sustainable Token Utility
VENA tokens do not play a transient role as they are not there just for an expense, though that is a part of their purpose. Vena Nodes and members of the Jury Network will be paid for their services via VENA tokens. As the platform evolves and attracts a greater userbase, the transactional flow of these tokens will grow.
However, a mere transactional flow has proven to not be a strong enough cause of building a long-lasting token value. Staking, on the other hand, has shown be a good means of developing sustainable token utility and value. As more individuals desire to participate in a p2p lending system as a Vena Node, more tokens will be constantly needed to fulfill the staking demands. This ensures that there’s a consistent demand to ensure token circulating supply is lowered.
The combination of transactional demand and the utilization of the VENA nodes in nodes provides a compound effect on the token’s dwindling circulating supply. This is the key feature to developing a token model that aligns with the platform’s success.
The Vena Tokens
The total supply of the coin is fixed at 1 billion which will be distributed as follows:
Team and advisors: 15%
Token sale: 30%
Bounty pool: 15%
Vena foundation: 30%
C.E.O: Ching Zhu. An excellent performing honours student from UESTC and is also the founder of chainboard technology.
C.T.O: Jeremy Lan. A blockchain engineer, co-founder and CTO of hardrole.
Operation director: May Du. A richly experienced entrepreneur, who hold a post graduate degree of finance from Nanyang technological university, China.
C.S.O: Yuanfei Zhu. A top student recommended for admission to Shanghai jioa Tong University as a top student, majoring in computer sciences. He later went on to found moregg during his suspension of school.
Business director: Zed Zhao. A graduate of UESTC, a former project manager at UETC, saw to the creation of encrypted platform and cyber security system for armed police.
Product director: Zoki wang. A graduate of UESTC, who is very rich in knowledge about the internet industry, having previously worked for reputable internet companies.
Overseas market manager: Amira Zhou. A practitioner with years of experience in business negotiation and project management.
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
Github : https://github.com/venanetwork
Author : Maniecool
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1692995
ETH Address: 0xc7a5bdAa10D8C40f7a7FAF35995C794bB769166b