Binance has announced the next project on Binance Launchpool. Vana, an open and decentralized protocol for data sovereignty. Let’s dive a little bit deeper and find out what is Vana and how you can earn a few tokens just by staking your BNB.
What is Vana
The Vana network is a layer-1 blockchain that works with EVM (Ethereum Virtual Machine) and focuses on giving people control over their personal data. It allows users to own their AI and carry out private, secure data transactions both individually and in groups. In a time when AI relies heavily on user data to create value, Vana makes sure individuals benefit fairly from the value their data generates while also helping researchers access unique datasets.
How to Earn Vana
A launchpool is like a way to help new crypto projects get started by giving them funding and attention. You can simply stake your BNB or FDUSD in separate pools for 2 days and in return, you get Vana tokens depending on the amount of BNB or FDUSD that you staked.
It’s a win-win situation, as the new project gets more exposure and some early supporters, which helps it grow and you get rewards which are the new project’s tokens as a “thank you” for supporting them.
The Misunderstanding
Since Binance’s announced, the VANA token, connected to a metaverse project called the Nirvana project, saw a huge spike in value. Although the Nirvana token has no link to VANA Binance plans to list, it seems that some crypto traders got confused and the Nirvana token has skyrocketed, jumping as much as 2700% according to CoinMarketCap.
