Introduction to Venom Network and VENOM Token
Venom Network is an advanced blockchain solution designed for scalable decentralized applications (dApps). At its core lies VENOM, the native governance and utility token powering the ecosystem—similar to ETH in Ethereum.
Key Features of VENOM:
- Gas Fees: Used to pay transaction costs (e.g., token transfers, smart contract interactions).
- Network Security: Validators stake VENOM to participate in Proof-of-Stake consensus.
- Governance: Token holders vote on protocol upgrades (weighted by stake).
- DeFi Integration: Foundation for liquidity pools, NFTs, and dApps within Venom Network.
Token Details
| Metric | Details |
|---|---|
| Token Name | VENOM (Venom Network) |
| Total Supply | 7,200,000,000 VENOM |
| Circulating Supply | 1,836,000,000 (as of March 2024) |
| Blockchain | Venom Network |
| Decimal Units | NanoVENOM (10⁻⁹), MicroVENOM (10⁻⁶), etc. |
Tokenomics and Distribution
VENOM follows an inflationary model with planned deflationary mechanisms (e.g., transaction fee burns).
Allocation Breakdown:
- Community: 22% (1.58B VENOM) – Vesting over 90 months.
- Ecosystem: 28% (2.01B VENOM) – Supports dApp development.
- Validators: 10% (720M VENOM) – Locked for staking.
Funding Rounds:
- IEO Price: $0.16 (March 2024, Gate Startup).
- Public Sale: 0.5% allocation (36M VENOM, 100% unlocked at TGE).
Wrapped VENOM (WVENOM)
WVENOM is a TIP-3 standard token pegged 1:1 to VENOM, enabling DeFi interoperability.
- Use Case: Required for swaps on DEXs (e.g., VENOM → WVENOM → USDT).
- Conversion: Fully reversible to native VENOM.
Price Analysis and Market Performance
Factors Influencing VENOM’s Value:
- Adoption: Growth of Venom Network dApps.
- Staking Demand: Higher yields attract more validators.
- Token Burns: Future deflationary pressure.
👉 Track live VENOM price charts
FAQs
Q: Where can I stake VENOM?
A: Through Venom Network’s native DePools or supported validators.
Q: Is VENOM deflationary?
A: Currently inflationary, but fee burns may be implemented later.
Q: What’s the difference between VENOM and WVENOM?
A: WVENOM is a wrapped version for DeFi; both maintain 1:1 parity.
Q: How does governance voting work?
A: Votes are weighted by staked VENOM amount.
Conclusion
VENOM is pivotal to Venom Network’s ecosystem, combining utility (gas, staking) with governance. Its strategic tokenomics aim to balance inflation with long-term value. For investors, monitoring adoption and validator participation is key.