VARA

The Vara Network is an innovative Layer 1 blockchain platform built on the Substrate framework, which seamlessly integrates a suite of features from the Gear Protocol, including the actor model, persistent memory, and WebAssembly (WASM) support. This integration positions Vara Network to offer a unique combination of sharding and parallel execution, distinguishing it from other L1 platforms such as Sui and Aptos, which tend to focus on one or the other .

At the heart of the Vara Network is the VARA token, which serves as the native currency for all transactions and operations within the ecosystem. The total supply of VARA tokens is capped at 10 billion, with allocations distributed among founders, team members, advisors, investors, the foundation, and the community. The community receives the largest share, 35.5%, which is intended to support developer and validator grants, airdrop programs, and to counteract the inflationary pressure from the token's supply .

One of the standout features of VARA is its annual inflation rate of 6%, which is mitigated by a deflationary mechanism where 10% of the token supply is allocated to an inflation offset pool. This pool is funded by a portion of the block rewards, which are then burned, effectively reducing the circulating supply of VARA tokens and potentially increasing their value over time .

The community governance of Vara Network plays a crucial role in the token's ecosystem, with the ability to adjust the annual inflation rate and allocate funds from the inflation offset pool to either developer grants or the protocol treasury. This ensures that the network remains adaptable and responsive to the needs of its users and participants .

In terms of market performance, VARA has experienced fluctuations in its price and market capitalization. As of August 2024, the circulating supply of VARA tokens stands at 538,773,596, with a total supply of 10,000,000,000 tokens. The market capitalization of VARA is approximately ¥84,824,993, ranking it at position #911, and the 24-hour trading volume is around ¥922,912 .