Vana: Empowering Data Sovereignty, Allowing Users to Profit from Data, Analysis of the Future of Core Token VANA

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西格玛学长2024/12/18 08:16

By:西格玛学长

I. Project introduction

Vana is committed to providing users with data ownership and making data a new type of asset. Unlike traditional Internet Tech Giants, Vana allows users to contribute, manage, and monetize their data through DataDAOs (Data Decentralized Autonomous Organizations), while maintaining data privacy and control. The platform's Vana L1 network provides a secure and reliable infrastructure for transparent data sharing, allowing users to pool their data for developers to create AI models or other decentralized applications (dApps).

Vana solves an important problem in the existing data economy: technology companies make huge profits from user-generated data, but users receive no return. For example, platforms like Reddit earn a lot of revenue by selling user content as AI training data, but do not give users any benefits. Vana gives users ownership of their data, allowing them to contribute, tokenize, and participate in data usage decisions, thereby profiting from data applications and having a say in data usage.

On the Vana platform, user-contributed data will be securely stored and guaranteed to be transparent and tamper-proof through Blockchain technology. After data contributions are verified, they will be tokenized, making them safe to use in different decentralized applications, especially in AI model development. Users can not only receive token rewards for contributing data, but also earn profits when the data is used. By participating in DataDAO governance, they have certain control over the use and distribution of data, promoting the sustainable development of data sharing and decentralized applications.

Vana: Empowering Data Sovereignty, Allowing Users to Profit from Data, Analysis of the Future of Core Token VANA image 0

II. Project highlights

1. User sovereignty and data privacy protection

Vana grants users full ownership and control over their data through DataDAOs (Data Decentralized Autonomous Organizations), ensuring that data contributors can participate in data sharing while protecting privacy. Unlike traditional data economy models, users are not only producers of data, but also owners and decision-makers of data. Through encryption and blockchain technology, Vana ensures that users' data maintains a high degree of privacy and security during storage, sharing, and use.

2. Data tokenization and revenue distribution

User-contributed data will be tokenized and stored in encrypted form after verification, allowing for secure use in decentralized applications, especially in scenarios such as AI Model Training. Tokenized data endows it with economic value, and users receive token rewards for contributing data. In addition, when data is used to develop AI models or other applications, users can also receive corresponding benefits based on their contributions. This mechanism breaks the traditional situation where platforms profit from user data without giving any return, ensuring the sharing of benefits between users and platforms.

3. Decentralized governance mechanism

Vana adopts a decentralized governance model, where users have governance rights in DataDAO and can participate in data usage and management decisions. This means that users can not only decide how to contribute data, but also supervise and intervene in the flow, application, and monetization process of data. Through this governance mechanism, Vana ensures the transparency and fairness of data usage, avoids the problem of traditional centralized platform data being abused or unfairly distributed, fully mobilizes community participation, and jointly promotes the development of the platform.

4. Addressing data economy inequality

In the traditional data economy, users' personal data is usually collected and utilized for free by tech giants, and these platforms profit from it, while users have almost no return. Vana solves this unfair phenomenon by providing ownership and participation rights to user data. Users can not only control their own data, but also directly benefit from the monetization and application of data. By participating in the governance of DataDAO, users have the right to speak about the utilization and monetization of their data, promoting the fair and sustainable development of the data economy.

III. Market value expectations

As the core token of data ownership and decentralized sharing platform, VANA is committed to promoting fairness and transparency in the data economy through DataDAOs. Currently, the unit price of VANA is $16.85, the circulating market value is about $521 million, and the fully diluted market value is about $2.022 billion. The total supply is 120 million VANA.

To evaluate the market potential of VANA, we selected Grass, Fetch.ai ($FET) and io.net ($IO) for comparative analysis.

Benchmarking project

1. Network data sharing application: Grass ($GRASS)

Unit price: $2.79

Market capitalization: 682 million USD

Fully diluted market cap: $2.79 billion

Circulation: 243,905,091 pieces

Total supply: 1,000,000,000 pieces

2. A blockchain platform based on artificial intelligence and Machine Learning: Fetch.ai ($FET)

Unit price: $1.59

Market capitalization: 4.157 billion USD

Fully diluted market cap: $4.324 billion

Circulation: 2,609,959,126 pieces

Total supply: 2,719,493,897 pieces

3. Decentralized computing network: io.net ($IO)

Unit price: $3.57

Market capitalization: 449 million USD

Fully diluted market cap: $2.856 billion

Circulation: 125,631,683 pieces

Total supply: 799,999,989 pieces

Market value comparison with expectations

1. Benchmarking Grass ($GRASS)

If the circulating market value of VANA reaches a level equivalent to Grass (682 million USD), the unit price of VANA will rise to about 22.05 USD, an increase of about 30%.

2. Benchmarking Fetch.ai ($FET)

If the circulating market value of VANA reaches the level of Fetch.ai ($4.157 billion), the VANA unit price will rise to about $138.57, an increase of about 723%.

3. Benchmarking io.net ($IO)

If the circulating market value of VANA approaches the level of io.net (449 million US dollars), the VANA unit price will slightly decrease to about 14.97 US dollars, a decrease of about 11%.

IV. Token Economics

The total supply of VANA is 120,000,000 pieces, and the specific distribution is as follows:

Core Contributors

Distribution: 22,560,000, accounting for 18.8% of the total

Release rules: 0% release at TGE, lock period of 12 months, linear unlock in 48 months after the end of the lock period, a total of 60 months of complete release.

Community

Distribution: 52,800,000, accounting for 44.0% of the total

Release rules: 20.3% (about 10,718,400 pieces) are released at TGE, with no lock period, the rest are unlocked linearly within 36 months, and fully released after 36 months.

Investors

Distribution: 17,040,000, accounting for 14.2% of the total

Release rules: 0% release at TGE, the lock period is 12 months, and it is linearly unlocked in 36 months after the end of the lock period, for a total of 48 months to be fully released.

Ecosystem

Distribution: 27,480,000, accounting for 22.9% of the total

Release rules: 4.8% (about 1,319,040 pieces) are released at TGE, with no lock period, the rest are unlocked linearly within 48 months, and fully released after 48 months.

Token Utility

- cyber security (Network Security)

Validators need to pledge $VANA to ensure the security and stability of the blockchain

Validators are rewarded by staking (in the first phase, this part of the reward will be allocated to the Public Goods Fund)

- Transaction Fees

$VANA is used to pay various transaction fees within the network, including data manipulation and smart contract execution

Establish $VANA as the primary medium of exchange within the ecosystem

- Data DAO Staking

Users pledge $VANA in a data DAO to receive token incentives

Determine the top 16 data DAOs eligible for additional rewards to improve data quality and contribution

Default Data Access Currency

Access to datasets managed by the Data DAO uses $VANA by default

$VANA is interchangeable with other tokens to provide data access for research, development, and commercial applications

- Trading Pair

$VANA is the main trading pair for the data DAO publishing token

Enable seamless exchange and interoperability of tokens within the ecosystem

- Governance

VANA holders can participate in decentralized governance by voting on proposals and key decisions

Over time, governance will gradually transition to community control, ensuring fair and inclusive ecological development

V.Team and financing

team information

Anna Kazlauskas (Co-founder and CEO): Founded an AI company and incubated through Y Combinator, and was an early engineer at Celo, focusing on AI and blockchain.

Other team members include a number of core personnel, including marketing, vice president, product director, ecological director, data director, and legal director, with extensive industry experience and professional background.

SINA FINANCE Art Abal: With a background in quantitative research and data procurement, he worked at Appen, one of the largest data brokers in the world, providing data support for AI models and platforms such as ChatGPT, Google Search, and Google Ads.

Financing information

Project Finance totals approximately $25 million.

December 2022: Received $18 million in financing from Paradigm, Polychain, Packy McCormick and Casey K. Caruso.

It received $5 million in strategic financing on September 18 from Coinbase Ventures.

Investors in the financing include well-known capital in the blockchain and Web3 fields, including Polychain, Paradigm, Coinbase Ventures, etc., to provide solid funding and resource support for the follow-up development and ecological construction of the project.

VI.Risk warning

1. The core of Vana is to tokenize user data and reward data contributors, but this also faces the latent risk of the token economy. If the value of the token fails to grow steadily or the market demand is insufficient, it may lead to a lack of sufficient incentive for users to contribute data continuously. In addition, Vana's monetization model relies on the use of third-party developers and AI models. If the demand for these applications is insufficient, the platform's revenue source will be seriously affected.

2. Vana's business model relies on users' willingness to contribute data and participate in the decentralized governance of the platform. However, there is still considerable uncertainty about whether users are willing to give up providing data to traditional technology companies and instead profit from the Vana platform. Users' perception of the value of data may affect their participation, especially in the early days of the platform. Without sufficient incentives and client base support, the ecosystem of the platform may not grow rapidly.

VII. Official Links

Website：https://www.vana.org/

Twitter：https://x.com/withvana

Discord：https://discord.com/invite/withvana

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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