Vara Network
VARA
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Vara Network Info
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Vara Network Intro
Vara Network is a stand-alone layer-1 decentralized network built and running on top of Gear Protocol.
Gear Protocol is a Substrate-based programming platform that enables anyone to develop and run dApps in Vara Network as well as other networks powered by the Gear Protocol’s runtime and technology.
The fast and scalable Vara Network, which is non-fork upgradable, provides an optimal platform for next-gen gaming, financial-based applications, and various experimental features, among others. Vara accommodates a wide range of modern use cases, making it an ideal environment for running diverse applications. Building on Vara Network suits developers already entrenched in Web3, as well as those transitioning from Web2 in search of a secure, efficient, and scalable platform for deploying their decentralized applications.
Many next-generation applications, such as gaming and payments, demand low-latency execution. The Vara standalone network offers the fastest on-ramp for these applications, unlocking new potential uses. Additionally, Vara Network presents low transaction costs for users and dApp creators.
Vara Network employs an inclusive and reliable Nominated Proof-of-Stake (NPoS) mechanism to select validators for its consensus protocol. This mechanism selects validators based on their stakes and the funds nominated by other token holders. Running a node or supporting the network as a nominator is incentivized. This approach fosters a more democratic and decentralized process, reducing the risk of centralization, where only the wealthiest entities could become validators.
The vast majority of tokens are held by the community. Vara empowers its community to steer the network's evolution through its on-chain governance mechanism. To ensure decentralization, longevity, and flexibility, Vara adopts the widely accepted OpenGov framework as its native governance model. This framework enables any VARA token holder to participate in Vara’s decentralized governance, influencing future updates or modifications to the network.
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Q&A about Vara Network Tokenomics
Explore the tokenomics of Vara Network(VARA) and review the project details below.
What is the allocation & supply schedule for Vara Network(VARA) ?
The total token supply of Vara Network(VARA) is 10 billions.
The specific distribution ratio is as follows：
- 35.5% was allocated to Community
- 12.5% for Developers
- 10% for Inflation offsetting pool
- 7% for Airdrop
- 6% for Validators incentives pool
- 23% was allocated to Foundation
- 7% for Education/ Bootcamp program/ PR/ Events
- 5% for Protocol reserve
- 4.5% for Foundation and ecosystem development
- 3.5% for Market makers and liquidity management
- 3% for Protocol Dev
- 21.5% was allocated to Investors
- 20% was allocated to Founders & Team
The vesting periods for the initial mint of VARA tokens are as follows:
- Founders/Team/Advisors：Fully locked for 12 months, then 36 months linear vesting (no lump-sum unlock).
- Investors：Fully locked for 12 months, then 12 months linear vesting (no lump-sum unlock).
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