What is VARA NETWORK(VARA)?

Basic information about VARA

Coin name:

Vara Network

Coin symbol:

Coin introduction:

What is the project about? Vara Network is a substrate-based future proof smart contract platform that is fast, scalable, and makes it simple to create and deploy next-generation Web3.0 dApps Vara is the first standalone network in the Gear Protocol Gear is a next-gen cloud infrastructure platform providing most intuitive and frictionless environment for web2 and web3 developers to build complex infrastructure solutions and disruptive dApps for any ecosystem What makes your project unique? Vara is built upon three core concepts: The actor model, and persistent memory — two widely adopted primitives from massive computation and microservices architecture spaces Wasm — a WebAssembly-based virtual machine that runs on all modern browsers. Proven to be faster than any alternative web2 virtual machines Vara was created to serve as a wasm-native hub for innovative protocols that leverage parallel execution and asynchronous programming to deliver leading decentralized products in any segment History of your project. Gear Protocol and the Vara Network were originally created by Nikolay Volf, one of the core developers of Polkadot. In 2021, he embarked on building an advanced layer 1 smart contract platform using Substrate, Polkadot's custom framework. His vision included creating a platform that enables fast and efficient execution of robust, feature-rich dApps while in a seamless development environment similar to that of Web 2.0 development. He did this by harnessing the power of innovative technologies like Wasm, the Actor Model, and Persistent Memory. These technologies significantly enhance smart contract development and provide a seamless end-user experience and provide the foundation for the development of Vara Network. 1. Q2 2021 - Pre-Seed Round: In the second quarter of 2021, the Protocol secured its initial funding through a pre-seed round. This likely involved seeking investment from early-stage investors or venture capitalists to kickstart the development of the project. 2. Q4 2021 - Seed Round: In December 2021 raised $12 Million in Venture Round. Private investment round led by Blockchange Venture. In addition to Blockchange, other top venture capital funds participated in this round, including Three Arrows Capital, Lemniscap, Distributed Global, LAO, Mechanism Capital, Bitscale, Spartan Group LLC, HashKey, DI Ventures, Elysium Venture Capital, Signum Capital and P2P Economy lead by Konstantin Lomashuk, along with a number of top executives of Web3 Foundation and Parity Technologies. Dr. Gavin Wood, Founder and ex-CEO of Parity Technologies and one of the key individual investors participating in this round. 3. 2022 - Intensive Scaling and Development, First Test Integrations: Throughout the year 2022, Vara was focused on two primary activities. First, the engagement in an extensive outreach process to build up the team. Second, the project advanced its technical development efforts and started working on integrating their technology with various test environments to ensure its functionality and viability. 4. Q4 2022 - Testnet Launch. 5. Q1 2023 - PoA Launch: In the first quarter of 2023, Vara achieved launch of its Proof of Authority (PoA) consensus network, which is a chain candidate for mainnet. Current Status of Vara: Presently, the project boasts a talented and diverse decentralized workforce, consisting of dozens of engineers and other community members to drive the project's success. One of the remarkable aspects of Vara is its substantial pipeline of initiatives with over 40 projects. What’s next for your project? Current projects being researched and developed by the community: - Intensive testing and improvement of the actor model features in the blockchain space - Launch of the key stack of dApps in our parallel and asynchronous environment - Development of innovative infrastructure solutions (e.g offchain zk actors including machine learning) independently and together with the segment leaders What can your token be used for? VARA tokens maintain core utility features required for the network to operate: transaction fees staking and network security governance other: gas pools for gas reservation Contributors to the Gear protocol are exploring the mechanics of how to distribute a portion of block rewards directly toward dApp developers

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Current Price:

$0.000958More coin details

All-time high:

$0.27007

All-time low:

$0.000814

VARA Supply Info and Tokenomics

Circulating supply:

5,217M

Total supply:

10,009M

Max supply:

Market cap:

$5.003M

Fully diluted valuation:

$9.597M

What is the outlook and future value of VARA?

The current market cap of VARA is $5.003M, ranked 2092 in the market, showing that the market already recognizes the value of VARA. When a bull market arrives, the market cap of VARA may continue to grow.

Moreover, if VARA can play a greater role in real-world applications—such as if the Monero developers can fully empower VARA and establish partnerships with more business partners to expand its user base—then the long-term value of VARA will be further enhanced.

What is the price of VARA in 2027?

According to the historical price performance prediction model of VARA, the price of VARA is expected to reach $0.001006 at 2027.

Note: As with any crypto investment, investors should closely monitor ’s performance and stay aware of the risks. The crypto world is highly volatile, and adequate research and preparation are necessary.

How else can I get VARA?

Purchasing VARA with cash is not the only way to obtain VARA. If you have enough time, you can get VARA for free.

Learn how to get Hot rewards for free with VARA.

Earn free VARA by inviting friends to join LBank My Activity|LBank Reward Center

Join LBank Launchpad to get VARA airdrops for free.

All crypto airdrops and rewards can be exchanged for VARA through LBank spot trading.

Buy VARA starting from $1

What is VARA used for and how to use it?

The use cases for VARA may grow with the development of the crypto market and project progress. Currently, you can use VARA to:

Arbitrage trading of VARA

VARA is frequently traded, with constant price fluctuations. You can profit from buying low and selling high. LBank Spot market offers many VARA trading pairs to suit your needs.

Earn yield with VARA

You can also lend out VARA or use other Earn products to gain returns. LBank Earn platform provides a wide variety of investment products to help you maximize your VARA gains.

Send or pay with VARA

If you want to pay someone with VARA, you can easily and quickly send VARA to them using their receiving address.

You can also visit the official website of Vara Network to learn more use cases of VARA, such as whether the Vara Network project supports community/eco apps or buying physical or virtual goods with VARA.