VENA NETWORK - Vena Liquidity Network

aray80 (0)(1)in #venanetwork • 6 years ago

Hello everyone, in this new post I want to introduce the VenaNetwork project, and for more details, let's just go to the following discussion:

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

Juror Application
To join the Jury of Vena Network, it is needed to firstly submit an application to Vena DAO and provide proof of identity. After the application is approved, it is needed to participate in the online training and assessment of the Vena Jury

Arbitration
The full set of arbitration software runs on the infrastructure built by Ethereum and IPFS. Through a simple user interface, the jurors can easily receive the evidence submitted by both parties and arbitrate

Economic Incentive and Guarantee Deposit
In order to motivate the jurors to exercise the jury power properly, the jurors shall deposit a certain amount of VENA Token in Vena DAO

Exit Mechanism
An exit mechanism will be initiated when the circumstances occur during the contract term as follows: A. Jurors volunteer to exit B. Get fined more than 5 times during the contract term C. Vena DAO Committee determines that the juror has obvious misconduct (such as conspiracy to commit fraud)

Jury Network
Jury network is applied to situations where smart contract is unable to deal with and it will submit results to smart contract.

Token Distribution Plan
The total amount of VENA Token issuance is 1 billion. And the tokens for teams, advisors, private sale, crowdfunding sale, foundation, and incentive pool will be distributed by smart contracts as follows: