Introduction
The aim of Vena Network is creating of a network which is a decentralized digital asset financing and exchange with the help of Vena Protocol. A mixed technology called “off-chain relay, on-chain settlement” is used by Vena Protocol so that they could achieve a balance between security and efficiency in both asset exchange and debt issuance. In such a way the debt financing orders and trading orders with the encrypted signature go through the off-chain channel which enables the potential counterparty to put several orders into the smart contract. After that as soon as the established logic of the contract is followed and it is automatically completed.
The good part is that the friction costs of arbitrage dealers are significantly reduced as it is possible to send all the transaction intentions off-chain and the on-chain settlements take place only in cases of transferring the value.
They have built a lot of financial scenarios based on the Vena Protocol which includes credit, debt financing, collateral loan OTC transactions and so on. The users will also be provided with a high degree of freedom in terms of the standard contact library of the scenarios.
Smart contract technology
A standard implementation is complete by Vena Protocol through several smart contracts on the Ethereum. The code of these contracts is open and they can use it free of charge. They use the language of smart contract which is secure and ecosystematic.
Time locking
Such problems as manual confirmation timeout and fraud are solved with the help of time lock in the Vena Protocol. There are several specific application scenarios before which the terms are standardized and an explanation is given according to the context meaning.
In a trading scenario, for example, where a fiat currency user takes part, when they submit the order, the user of the fiat currency is to complete the process of transferring the currency within 30 minutes and click the “Transferred” button. If this does not happen the transaction is decided to be abandoned so Vena will return the locked-up token to the address of the user.
Vena token
The aim of Vena token is to keep the token price at a stable long-term increase rate and to get the value of the tokens maximized. There several benefits that have been offered. One of them is that Vena jurors can get Vena toke rewards for appropriate arbitration and bounty pool will generate the reward part. Additional issuance will produce the insufficient part.
In case of any black swan event the lending party will be compensated with additional Vena tokens in order to avoid debt default. DAO will confirm and compensate the additional part of the tokens in less than 3 working days.
And there much more, you have to try it to know it.
Summary
The promotion of the liquidity of Vena Network is the main role of the Vena node network. Vena SDK can be used by Vena node for customizing and providing users with transaction services that will include asset transactions, credit evaluation and so on and earn some profit through collecting fees.
Home Page: https://vena.network/en.html
Whitepaper: http://whitepaper-en.vena.network/#11-references
Twitter: https://twitter.com/VenaProtocol
Facebook: https://www.facebook.com/Vena-Network-207271413455484/
Telegram: https://t.me/vena_network
All picture and video rights belongs to: Vena Network
Author: https://bitcointalk.org/index.php?action=profile;u=1050687
ETH address: 0x99E35e87FBD106DBf6fEA82D5b118a3CA4B91A23
Timestamp: 21NOV2018 10:30UTC
Text Uniqueness: 100%
Checked via: https://smallseotools.com/plagiarism-checker/
