Crypto lovers may need heard of the ERC-20 token commonplace, which supplies pointers to make sure that tokens created on the Ethereum good contract blockchain are suitable and may work together with different tokens and functions throughout the community.
The same commonplace for>Vana, an EVM-compatible Layer 1 blockchain that helps customers monetize private knowledge by bundling it into DataDAOs for AI mannequin coaching, launched the brand new commonplace early this week to spice up belief and transparency out there for data-backed digital property.
“For knowledge markets to work, tokens have to be dependable, safe, and helpful. As a common commonplace for data-backed tokens, VRC-20 delivers this by making certain honest and clear knowledge token buying and selling,” Vana introduced on X.
The VRC-20 commonplace design contains particular standards akin to fastened provide, governance, and liquidity guidelines whereas making certain actual knowledge entry by tying tokens to precise knowledge utility. Moreover, it promotes steady liquidity via rewards that guarantee market stability.
“This isn’t hypothesis. That is actual financialization of information,” Vana famous.
Vana launched its mainnet in December, with VANA as its native cryptocurrency. Since then, the community has onboarded over 12 million knowledge factors via a number of DataDAOs, reflecting robust demand for user-owned knowledge.
DataDAOs or knowledge liquidity swimming pools are decentralized marketplaces that carry knowledge onchain as transferable digital tokens. DLPs are the place knowledge is contributed, tokenized and made prepared to be used in functions akin to AI mannequin coaching.
Monday’s announcement changed VANA emissions as DataDAO ingenious with a brand new characteristic that requires DAOs to subject VRC-20-compliant tokens to obtain liquidity help.
Moreover, the protocol launched knowledge validator staking, the place VANA holders can lock their cash in knowledge validators as an alternative of particular person DataDAOs.
“Rewards are primarily based on community safety and utilization. Stakers earn proportionally to their contribution to community uptime and knowledge availability. No extra idle staking. Earnings are tied to actual community utility and reliability,” Vana stated.
The VANA token modified arms at $5.58 at press time, the bottom in over two weeks, extending the decline from the latest value excessive of $8.78 on Binance, in accordance with knowledge supply TradingView.
