Vanar Migrates to Base, Total Supply of VANRY Increases to 10 Billion

The AI infrastructure project Vanar has announced its migration from Vanarchain to the Base network. The positioning of the VANRY token will shift towards coordinating and incentivizing the AI organizational ecosystem. Existing VANRY holders will migrate at a 1:1 ratio, with their holdings remaining unchanged, but the total supply will increase from 2.4 billion to 10 billion to support incentives for the AI organizational ecosystem, developers, partners, and infrastructure development. After the migration, 62% of the total supply will initially remain locked, and newly allocated tokens will adopt a lock-up and 60-month linear release mechanism, with a complete release cycle expected to last 5 years. Additionally, Vanar will end the staking mechanism for validator nodes on Vanarchain and integrate its infrastructure into the Base network. The team plans to launch the Vanar Genesis event on August 3, where the first batch of AI organizations will go live, establishing a reward pool of 100 million VANRY to incentivize outstanding ecosystem projects.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.