Today, there are thousands of cryptocurrencies throughout the world, and everyone can hold them safely. However, in many regions in the world, the transaction between cryptocurrency and fiat currency is still difficult, and the cost is very high, which hinders the popularization of cryptocurrencies and distorts the transaction price. At present, the transactions between cryptocurrency and fiat currency are mainly conducted through centralized OTC trading platform. Most countries haven’t established the legislation of cryptocurrency, which means that such platform can be run without any license and regulation. Therefore, users on such platform always have to bear the risk in both fund safety and privacy disclosure; meanwhile, the trading platform may manipulate the transaction price to earn excess profits.
In the centralized cryptocurrency exchange, such as Poloniex, Bitfinex etc., USDT is used as the digital substitute of USD for transaction. However, as a centralized digital currency to anchor US dollars issued by Tether, there have been a number of severe problems existing in USDT, including:
Tether may goes bankrupt.
The bank which Tether opens its accounts may goes bankrupt.
The bank may freezes Tether’s funds.
Tether may excessively issues USDT.
High service charges, slow settlement, and difficult to withdraw funds.
The security problem that the accounts in Tether was stolen once happened.
Obviously, the demands for the digital substitutes of fiat currency such as USDT will decrease significantly if the users are able to safely and conveniently conduct transactions between cryptocurrency and fiat currency.
Another obvious problem in the field of cryptocurrency is that there is no decentralized service to enable the cryptocurrency holders to safely borrow fiat currency by pledging cryptocurrency, but it has become a noteworthy demand, especially for the users who hold a large amount of cryptocurrency, and believe that the cryptocurrency price will rise.
What is Vena Network ?
Vena Network is a blockchain-based open protocol in which the generic architecture allows users to write contract terms to define rules for a variety of decentralized financial activities including release property, loans, transactions and so on. Users can keep copyright and thus have the natural development of a market for smart contract templates in Vena Network.
Features of Vena Network
*Building a scattered trading network using an encrypted economic model.
*Users will receive decentralized identity authentication to conduct transactions involving fiat credit and currency
*The protocol design is clearly defined. Basic protocol classes are very abstract to improve the degree of freedom for secondary development, bringing more ecological roles to more innovative scenarios; The endogenous endorsement protocol supports standard contract libraries including debt contracts (debt issuance, credit, mortgage) and transaction contracts, which act as a precursor to the business of building financial planning and ecosystem exchange.
*Achieve closed circuitry of digital assets from asset issuance to secondary market transactions, and can directly complete spot transactions, mortgage transfers, and asset circulation ( Only stable currency support) in the Vena ecosystem.
*Supports the NFT standard (no symbol) and achieves a value-added mortgage loan for the portfolio through a self-determined contract.
*The third party implementing the sample contract library in the property protocol layer will retain the copyright, thereby establishing a sample contract deal and service market and the author may charge the user for the service fee.
*Different roles within the protocol ecosystem will receive compensation; for example, auditors may use their own data model to provide users with quality credit assessment services and get benefit.
How does Vena Network work?
The Luoshu button is the key element of the project. It allows an open deal for tokens and property grants through the Rocket deal. The network allows anyone to perform peer-to-peer transactions and manage digital assets anywhere, anytime.
The certified Luoshu button must have all the conditions of the lending activity in the area of operation. This means that the agreement must comply with all laws and regulations of that particular location.
Token Distribution
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:
Roadmap
- Q2: Release white paper, verify product concept and launch development, launch global operations, including China, Australia, Canada, Russia and United States.
- Q3: Start IEO or DAICO, launch Vena Token Exchange, open Agent Application.
- Q4: Open source SD book on github, run test of the official exchange, launch Luoshu product 1.0, resolve the first agent.
- Q1: Release of Luoshu Product 1.1, complete ecosystem development and open city partner program (introducing more than 20 agents).
- Q2: Luoshu 2.0 release, promoting global business growth, introduced more than 50 dealers.
Team Introduction
CEO: Ching Zhu
Ching Zhu, a gainer of the Honors Outstanding Students from UESTC, is the founder of the ChainBoard Technology. Ching held the post of technical director of a famous fintech company ICE KREDIT in charging of designing and leading the R&D for integrated platform of risk management and big data-based credit platform. She has accumulated rich experience in the design of credit investigation and financial risk management on internet and the R&D for architecture design of microservice system. In 2016, Ching began to lead the team to master and successfully developed the blockchain-based industry application, and participate in the operation of the Blockchain project in a listed company. She has served as a special technical consultant to provide consultation service on architecture and design to a number of listed companies and has served as a lecturer to share keynote speeches at several well-known technical forums.
CTO: Jeremy Lan
Jeremy Lan, a senior Blockchain engineer, is the co-founder and CTO of Hardrole. He is interested in logic and strategic research and is abundant with experience in internet practice and deep technical insight. Jeremy has held the post of principal of a well-known artificial intelligence company Hiscene in charging of cloud architecture design and product development. With years of striving in the blockchain field, Jeremy is familiar with the underlying technology of Blockchain, multi-currency digital wallet and exchange, as well as all kinds of safety protection. In addition, Jeremy is also a member of Core Team participating in Metaverse Blockchain. Currently, he commit himself to actively explore and solve problems in projects, such as scalability of Blockchain and the ordering scheme of DAG partial sequence network.
Operation Director: May Du
May Du, master in Finance of Nanyang Technological University, bachelor of China XIAMEN University. And she has rich experience in entrepreneurship. Achieved her first venture capital exit by founding SATORI BCC PTE. LTD. In 2017, stepped in as CEO and sold out the shares to SETTING IT in 2018. Now leading a highly professional team to provide one-stop in-house operational support to global technology companies, especially blockchain startups.
CSO: Yuanfei Zhu
Yuanfei Zhu, recommend him for admission to Shanghai Jiao Tong University as one of top students majoring in computer science and technology with excellent performance in the computer/physics competition during his senior high school. He has founded Moregg during his suspension of schooling, and thus gained a lot of achievements from nothing to something while achieving outstanding result. After his graduation, he mainly engaged in the work of algorithm for big data in situations of online advertising, marketing and security and for machine learning in Silicon Valley, and and is abundant with rich experience in data analysis and operation experience at Yahoo. Since participating in Blockchain project development in 2016 as an early developer of Ethereum, he has pursued the bottom technology of the Blockchain and has participated in the high-performance exchange architecture design, operated the ico delegated investment platform Beico, and successfully completed a series of smart contracts-based projects such as ENS. In 2017, he established Satori in Singapore and managing a professional team providing world-class services such as overseas compliance for funds and foundations. The partners have served and estanlished cooperative relationship with IOST, ZJL, TNC, etc.
Bussiness Director: Zed Zhao
Zed Zhao, graduated from UESTC. He previously worked as project manager In CETC, led the whole process of building encrypted platform and cyber security system for Armed Police. And He was in charge of the national cloud computing encrypted application white paper, Sichuan Provincial Government Cloud and Yunnan Cloud project which worth over 500 million RMB. Currently Zed focus on product research and market operation in the blockchain field.
Product Director: Yoki Wang
Yoki Wang, graduated from UESTC. She has rich experience in the Internet industry and previously worked for well-known Internet companies, eg. NetEase, Inc. (NASDAQ: NTES), etc. the product she engaged in has more than 100 million users.Yoki is familiar with the user analysis of PC and mobile products, good at front-end and back-end product design, 2B2C product design, rich experience in project design and data analysis, previously engaged in product management of more than 10 products.
Overseas Market Manager: Amira Zhou
Amira Zhou, practitioner with seven-year experience in business negotiation and project management in overseas markets, once held the post of the principal in charging of overseas market business in a well-known vehicle networking company Dina Technology. Her contribution in achieving cooperation with ten million level operator in Malaysia has created a pioneer practice that domestic vehicle networking companies provide overseas operators with integrated solutions including the car networking big data platform and hardware. Also, she has held the post of a senior English interpreter serving as a simultaneous interpreter at the Shanghai G20 Finance Ministers' Meeting. Currently, she focuses on industry research and market operations related with cryptocurrency investment and Blockchain based on her extensive experience in overseas business and project operations.
- Advisors
Benjamin Gu
Benjamin Gu, mmaster on business administration from University of Texas, master from University of Notre Dame, master of China University of Science and Technology, and bachelor of Shandong University. Benjamin is currently holding the posts of chief strategy officer and Chairman of the foundation of DAEX. He has held the post of Deputy Chief Information Technology Officer of Huatai United Securities and Chief Operating Officer of several financial services companies. He has accumulated rich working experience in senior management and R&D in the well-known Internet finance companies in both China and the United States. Also, Benjamin previously held a post of principal in charging of the development and operation of ENCORE, sole clearing system for the US options trading market in the U.S. Options Clearing Company.
Yang Zhao
Yang Zhao, ex-president of E Surfing Credit Investigation of China Telecom, is currently holding the post of Chief Operating Officer of Shanghai Xinyan Credit Investigation Service Co., Ltd. Zhao has accumulated years’ experience in applying data from telecom operators to credit investigation and risk management. Now, he is leading a professional team to co-establish Xinyan concentrating on big data-based credit investigation. With their professional products and high quality services, Xinyan has thrived in the market.
Yongchao Zhai
Chief Architect of Yonghui Yunchuang, founder of SpringCloud Chinese Community (bbs.springcloud.com.cn), and joint initiator of Spring4All community (spring4all.com). Having obtained Master’s degree from Donghua University, he is author of “Spring Cloud Microservice Practice”, who is fully devoted to the Java ecosystem and distributed system. Mr. Zhai is mainly in charge of the implementation of microservice architecture based on Spring Cloud and is the early evangelist of Spring Boot/Spring Cloud. He is an expert in various technology stacks including Java backend, microservice architecture, operation and maintenance development, system monitoring and blockchain, and is active in online and offline technical communities for relevant research and knowledge sharing.
For more information, check below link:
Website: https://vena.network/en.html
Whitepaper: http://whitepaper-en.vena.network
Telegram: https://t.me/vena_network
Twitter: https://twitter.com/VenaProtocol
Facebook : https://www.facebook.com/Vena-Network-207271413455484
Bitcointalk username: mohamadreza bagheri
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2315529
ETH address: 0x96a655dd12e25D2B78E0DEd44ec9Df42a97bc3d3