What is Vena Network Project?

tinhkhuat (32)in #venanetwork • 6 years ago

What is Vena Network Project?

Vena network is a platform designed for tokenized exchange and asset financing/mortgage lending. It’s not a company in itself; it’s an open source project built to fill a gap in the cryptocurrency ecosystem by ensuring effectiveness and trust of decentralized governance, assistance of various startups in commercial innovation and development, and transparency and security of fundraising.

Vena Network comprises of two protocols: basic protocol layer and the asset agreement layer. The basic protocol layer is mostly for managing upper-level finances, routing, configuring, and registration. The asset management layer is solely based on assets and implements the terms of the contract. All operations of Vena Network are controlled and managed by smart contracts, meaning that they cannot be intervened for fraud protection.

Vena Node Network:

The main role of the Vena node network is to promote the liquidity of Vena Network, Vena node can use Vena SDK to customize and provide users with comprehensive transaction services including but not limited to lending, asset transactions, credit evaluation, contract plug-in transaction, etc., and earn profit by collecting fees

Qualification

Certified Vena Nodes need to have qualification as well as experience in micro-loan operation and abide by the laws, regulations, and policies of the place where they operate

Guarantee

Certified Vena nodes shall deposit VENA Token as a guarantee according to a certain percentage in the Vena Foundation

High Liquidity

Certified Vena nodes can put orders into shared liquidity pool, Vena nodes can share orders and earn fees by promoting transactions, and improve liquidity of transaction network by economic incentive of profit sharing

Safety

Digital assets of users are kept in their wallets or locked in smart contract. Vena nodes do not hold digital assets of users, thus avoiding the moral hazard of platform running away. At the same time, it also greatly reduces the cost of safety required for asset deposit for nodes

How Does Vena Network Blockchain Work?

Luoshu node is the key element of the project. It allows for an open agreement for tokenization and asset financing through Rocket agreement. The network lets anyone to conduct peer-to-peer OTC transactions and digital asset management anywhere, anytime.

The certified Luoshu node has to have all the qualifications of loan operation in the area where it operates. This means that the agreement has to abide by all the laws and regulations of that particular place.

And when it comes to safety, all the digital assets of the users are stored directly in their wallets if not in use or locked in smart contracts once there’s an agreement.

Team:

Building the Vena Network certainly requires some great brains, and it looks like they have them. Although they are not well known names in the blockchain sector, it appears they have the knowledge and experience to handle a project of such magnitude.

Advisors:

Roadmap:

Vena Network is a young project started in the second quarter of 2018, but the developers have big dreams for it, outlining their plans over the next one year.

Here’s their roadmap:

Q2: Release of whitepaper, product conceptual verification and startup development, launch operations globally, including China, Australia, Canada, Russia and the US.
Q3: Start IEO or DAICO, launch Vena Token exchange, open Dealer Application.
Q4: Open source book SD on the github, test run of the official exchange, launch Luoshu Product 1.0, settle the first dealer.
Q1: Release Luoshu Product 1.1, develop the ecology fully and open city partner program (introduce more than 20 dealers).
Q2: Release Luoshu Product 2.0, accelerate growth of global business, introducing more than 50 dealers.