Open Protocol for Asset Financing and Token Exchange
Vena Network – Open Protocol to implement Asset and Token Exchange Funding
We can build digital networks and exchanges, where people can communicate with P2P financial systems and OTC trading anytime and anywhere, the possibility of exchanging between currencies and currencies.
- Application of multi-chain & cross-chain asset transactions
- Distributed jury network serves as the main transaction protection mechanism
- Vena nodes can take advantage of transaction costs by building nodes based on Vena protocol
- To be applied to loans and fiat-to-cryptocurrency transactions (ETH, BTC, etc.)
- Both parties to the transaction do not need to rely on trusted third party intermediaries, transaction security is guaranteed by the protocol
- Use Aragon software to realize decentralized management
Vena Node Network
The main role of the Vena node network is to promote Vena Network liquidity, Vena nodes can use Vena SDK to adjust and provide users with comprehensive transaction services including but not limited to loans, asset transactions, credit evaluations, contract plug-in contracts, etc., and get a profit by collecting fees.
- Certified Venous Nodes Qualifications
- must have the qualifications and experience in microfinance operations and comply with the laws, regulations and policies of the place where they operate.
- Certified Vena nodes will deposit VENA Tokens as collateral based on a certain percentage in the Vena Foundation.
- High Liquidity
- Certified Vein nodes can place orders into a shared liquidity pool, Vena nodes can share orders and get costs by promoting transactions, and increasing network liquidity transactions with economic incentives from profit sharing.
- Digital assets of users are stored in their wallets or locked in a smart contract. Vena nodes do not have a user’s digital assets, thus avoiding the moral dangers of the escape platform. At the same time, it also greatly reduces the security costs required to deposit assets for nodes.
Uri Jury Application
To join the Vena Network Jury, it is necessary to first submit an application to Vena DAO and provide proof of identity. After the application is approved, it is necessary to participate in online training and Vena Jury assessment
Complete arbitration software is run on infrastructure built by Ethereum and IPFS. Through a simple user interface, judges can easily receive evidence submitted by both parties and conduct arbitration
➔ Economic Incentives and Deposit Guarantee
To motivate the judges in order to use the power of the jury correctly, the judges will deposit a token VENA in Vena DAO
➔ Mechanism Mechanism Exit
out will begin when circumstances occur during the term of the contract as follows: A. The volunteer spokesman for the exit B. Got a fine of more than 5 times during the contract period C. Vena DAO Committee determines that the jury has a clear error. (like a conspiracy to commit fraud)
The jury network is applied to situations where intelligent contracts cannot be handled and will submit the results to a smart contract.
Token Distribution Plan
The total number of VENA Tokens issuance is 1 billion. And tokens for teams, advisors, personal sales, crowdfunding sales, foundations, and incentive pools will be distributed by smart contracts as follows:
➽ Team and Advisor: This section accounts for 15% of the total number of VENA tokens issued, 1/4 part will be distributed immediately after issuance of tokens; The remaining 3/4 part will be locked for one year, and after a one-year lockout period, the token will be distributed as follows: 1) VENA advisory tokens will be distributed immediately; 2) 1/4 of the team tokens will be distributed immediately and the remainder will be distributed gradually over a period of 12 months.
➽ Personal sales:Personal sales VENA tokens will be distributed in two methods: 1) Parts of tokens that are not included in the locking plan will be distributed to the participant’s wallet within 2 days before recording in exchange; 2) Part of the token included in the locking plan will be locked in a smart contract after listing in exchange, which will be opened and distributed to the participant’s wallet in stages in accordance with the rules set.
Publik Public sales: After public sale, this section will be distributed to the participant’s wallet within 2 days before being listed instead.
➽ Foundation: This section will be held by a smart contract and opened every month in two years. The use of funds that are not locked will be subject to DAO Vena agreement with disclosure of details when used.
➽ Bounty Pool: Every year the community team and developer will be given a permanent share of 1% for 10 consecutive years; The remaining 5% will be used for the introduction of important resources, including but not limited to talent, strategic partners, etc.
➽ Reservations: Funds can be raised from the reserve through the DAO when the team is underfunded, or the ordered part can be transferred to the foundation’s funding pool to promote ecosystem development.
For More Information About Vein Networks Please Visit Below:
- Website: http://vena.network/en
- Whitepaper: https://bitcointalk.org/index.php?topic=5031375.0
- Telegram: https://t.me/vena_network
- Twitter: https://twitter.com/VenaProtocol
- Facebook: https://www.facebook.com/Vena-Network-207271413455484/
Author: ket tumbar
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2202323