# Vana

> A decentralised data ownership network where users export personal data, contribute it to DataDAOs, and earn proportional rewards for AI training. Strong data sovereignty architecture and a claimed 1.3M+ users, but permissioned validators, ~97% price decline from ATH, and a progressive decentralisation roadmap that has not yet delivered on its promises.

- Scores: Freedom 5.3/10 (grade D), Returns 5.4/10 (grade D)
- Category: data · Token: VANA
- Published: 2026-03-03 · Updated: 2026-10-20
- Canonical: https://ownyourmind.ai/projects/vana/
- Data (scores + integrity verdicts, JSON): https://ownyourmind.ai/api/projects/vana.json
- Cite as: Own Your Mind (ownyourmind.ai), licence CC BY 4.0. Link the canonical URL.

Charts and interactive widgets are omitted here; their data is in the JSON above.

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## What it does

Vana is a purpose-built L1 blockchain for user-owned data. You export your personal data from platforms like Reddit, Twitter, ChatGPT, LinkedIn, and Amazon using the Data Connect desktop app, contribute it to a DataDAO (a decentralised pool of similar data), and earn proportional rewards when AI companies use that data for training. The core idea: your data has value, you should own it, and you should get paid when it trains AI models.

The architecture has two layers. The Data Liquidity Layer handles data validation, tokenisation, and trading through DataDAOs. Each DataDAO implements its own Proof-of-Contribution function, tailored to its data type, that validates authenticity, ownership, quality, and uniqueness. These validations run inside Trusted Execution Environments (Intel TDX hardware) on the Satya network, so even the validators processing your data cannot see the plaintext. The Data Portability Layer manages cross-application data sharing through Personal Servers: user-controlled nodes that store your plaintext data and serve it to authorised parties through grant-enforced APIs.

The encryption model is strong. Users control their own keys (OpenPGP with HKDF-SHA256 key derivation). Permission grants are recorded on-chain, and in the deployed contract only the data owner can create or revoke them. A 3-of-7 multisig can replace that contract logic with no timelock, though, and has done so repeatedly. Three hosting options for Personal Servers: bundled with the desktop app, ODL Cloud (Vana-operated MicroVMs), or self-hosted Docker containers.

The project started as an MIT Media Lab class project in 2021. Co-founders Anna Kazlauskas (MIT '19, ex-Celo engineer) and Art Abal (Harvard, ex-Appen data collection lead) built the initial prototype in an "Emergent Ventures" course taught by Ramesh Raskar. The operating entity is Corsali Inc dba Open Data Labs (San Francisco), with protocol stewardship by the Vana Foundation (Cayman Islands).

Team size is approximately 14. Stephen Boske (ex-Coinbase Associate General Counsel) is Head of Legal.

Mainnet launched on 16 December 2024 via Binance Launchpool. The Capella hard fork followed in July 2025 (block height 4,009,180), delivering higher throughput, improved privacy safeguards, and cleaner tooling for deploying data liquidity pools.

Vana says the Vega upgrade completed on 21 September 2026. Its [Vega addendum](https://vana.org/papers/vega-addendum-sep-2026.pdf) specifies "protocol-governed encryption": a threshold quorum of dedicated nodes, separate from the validators, must take part before any file key is released, so no party can decrypt data without a valid on-chain grant. That is the design as written. On-chain, the permission contracts we watch carry the same implementations on 4 October as on 18 September, so Vega did not upgrade them, and the same 3-of-7 Safe still controls them.

## Value proposition

The pitch is "own your data." Each day, you generate data that trains AI models worth billions. You get nothing. Vana lets you contribute that data to DataDAOs, earn proportional rewards, and maintain ownership through on-chain consent enforcement.

The adoption numbers are from Vana's own reporting. The project claims 1.3 million users, 300-plus DataDAOs, 12 million-plus data points onboarded, and 140,000 Reddit users in r/datadao. The Binance Launchpool listing and CZ joining as advisor (via YZi Labs' strategic investment in February 2025) gave the project significant distribution. The mainnet is live and processing data, though independent verification of the user count is not available.

The VRC-20 token standard, introduced in April 2025, creates data-backed tokens with on-chain liquidity. Think of them as ERC-20 tokens but representing verified, privacy-preserving datasets. This is a novel financial primitive. Crucially, Vana removed its previous "Top 16" DataDAO restriction. Any DataDAO that meets the VRC-20 standard now qualifies for liquidity support, replacing the old emissions-based model with continuous liquidity incentives weighted by trading volume (30%), data contributors (20%), and data access fees (50%). This opens participation considerably. Whether it creates sustainable value remains to be seen.

The counter-narrative is equally clear. VANA launched at $35.23, briefly becoming one of the highest-profile Binance listings. It has since fallen roughly 97% from that peak, over about 17 months. The market is saying that owning your data is a good idea, but the VANA token hasn't demonstrated why it should capture that value.

DataDex, the DEX on Vana's chain, has ~$200,000 in TVL (DefiLlama, August 2026), down from ~$238,000 in June and roughly $984,000 earlier in the year.  For a chain claiming 1.3 million users, that's remarkably thin DeFi activity. Vana reported 1.7 million daily transactions in May 2025, a figure from its own reporting. Individual data contribution returns are likely modest; the value of a single person's Reddit history to an AI model is negligible.

## Tokenomics

VANA is the native token of the Vana L1 chain. Capped supply: 120 million. Native coin supply on the Vana L1 reads about 113.4 million.  Circulating supply: 30.8 million (25.67%) as of March 2026.

Distribution:

- **Community:** 44.0% (20.3% liquid at TGE, remainder over 36 months; includes Binance Launchpool 4% and airdrops)
- **Ecosystem:** 22.9% (4.8% at TGE, remainder over 48 months; grants and network growth)
- **Core Contributors:** 18.8% (0% at TGE; 13-month cliff then 4-year linear vesting)
- **Investors:** 14.2% (0% at TGE; 13-month cliff then 3-year linear vesting)

The distribution tells a reasonable story. The community and network-growth buckets total 66.9%, the highest community allocation among the data projects I have reviewed. No insider tokens were released at TGE. Contributors and investors face multi-year vesting with hard cliffs. This is structurally better than many projects in the space.

Vega also rewrites the fee model, as Vana describes it in a [28 September post](https://vana.org/blog/vega-upgrade-staking-and-tokenomics). Applications pay one cent per scope read, and Vana says that fee is split 60% to stakers through staking pools, 20% to buyback and burn and 20% to network growth. Existing stakers must move into one of three new pools by midnight UTC on 31 October 2026 to keep earning. Vana says it will publish every buyback and burn with its transaction hash.

The problem is what happens next. Only 25.67% of supply is currently circulating. 59.81% remains locked. The investor cliff (13 months from December 2024) began releasing around January 2026, with three years of linear selling pressure to follow. Contributor vesting follows a similar pattern over five years. At current prices, this represents significant potential dilution.

Funding totals $25 million across four rounds: $2 million seed (Polychain Capital, December 2021), $18 million Series A (Paradigm, December 2022), $5 million strategic (Coinbase Ventures, September 2024), and an undisclosed strategic from YZi Labs with CZ as advisor (February 2025).

VANA hit an ATH of $35.53 on 17 December 2024, the day after launch. It has since declined roughly 97%. Listed on Binance, Upbit, Bybit, KuCoin, Gate.io, Bitget, MEXC, and CoinEx.

## How to participate

**Contribute data.** The lowest barrier entry. Install the Data Connect desktop app, connect your accounts (Reddit, Twitter, ChatGPT, LinkedIn, Amazon, Spotify, health platforms), and export your data to a DataDAO. No capital required. Your data is validated via Proof-of-Contribution in TEEs, and you earn proportional rewards based on contribution quality and volume. Since the removal of the "Top 16" restriction, any VRC-20 compliant DataDAO qualifies for liquidity support. You are no longer limited to a handful of incubated pools.

**Stake VANA.** Stake tokens via stake.vana.org for approximately 6.18% APY. Non-rebasing position model where rewards compound automatically. Web-based, no hardware required.

**Run a validator.** Two types. L1 validators produce blocks and require 35,000 VANA, 8-core CPU, 32 GB RAM, and 1.2 TB SSD. Currently permissioned (PoSA); you need to be selected. Satya validators run TEE-based data validation on Intel TDX hardware. Both require advanced technical skill.

**Build on Vana.** Use the Vana Connect SDK, Personal Server APIs, or deploy DataDAOs. Grants programme available. Documentation at docs.vana.org is solid.

**Governance.** Vote on protocol proposals via Tally (on-chain) and Snapshot (off-chain). Hold VANA tokens to participate. Full community governance via Vana DAO is planned for Phase 3 (12-18 months post-launch).

## Honest assessment

### What works

The data sovereignty architecture is the strongest I have seen in the DeAI space. On-chain consent enforcement, user-derived encryption keys, Personal Servers where users control their plaintext data, and TEE-based validation that prevents even validators from seeing raw data. This is not marketing. The protocol specification is published, the smart contracts are audited (nine audits across Hashlock and Nethermind, all Hashlock audits rated "Secure"), and the encryption model uses established standards (OpenPGP, HKDF-SHA256).

The user adoption appears meaningful. Vana reports 1.3 million users and 300-plus DataDAOs, with the 140,000 r/datadao community forming organically and verifiable on Reddit. These figures come from the project; the aggregate user count hasn't been independently audited. The founding team brings relevant credentials: Kazlauskas from Celo (blockchain infrastructure), Abal from Appen (data collection at scale), and Boske from Coinbase (crypto legal). Strong investor backing (Paradigm, Coinbase Ventures, Polychain, CZ) provides both runway and credibility.

Open-source output is substantial on the core stack, which is permissively licensed (Apache-2.0, MIT and ISC) and actively pushed. The wider org is patchier: most of its 74 non-fork repositories carry no licence file.  The published protocol specification gives developers full visibility into how the system works.

### What doesn't work

The chain currently runs under Proof-of-Staked-Authority where validators are selected by the team. For a project built on the thesis of user ownership and decentralisation, permissioned validators are a fundamental contradiction. The "progressive decentralisation" roadmap promises a transition to permissionless validation, but without specific timelines or milestones, this remains a promise rather than a plan.

The Vana Foundation controls the treasury and retains significant influence over protocol direction. Governance tools exist (Tally, Snapshot) but I found no evidence of active on-chain governance votes or meaningful participation metrics during research. For a project that has been on mainnet for over 17 months, this gap between governance infrastructure and governance activity is notable.

The economics of individual data contribution are challenging. Your Reddit post history, your Spotify listening data, your ChatGPT conversations; each of these is worth fractions of a cent to an AI model trainer. Meaningful returns require massive collective action through DataDAOs. The removal of the Top 16 restriction and the shift to VRC-20 liquidity-based incentives is a clear improvement. It lowers the barrier for new DataDAOs and replaces a competitive ranking system with merit-based qualification. But it doesn't solve the fundamental demand-side question: how much are AI companies actually paying for this data? Most of the 300-plus DataDAOs Vana reports remain dormant or experimental.

### The risk

Intel TDX dependency for Satya validators creates both supply chain risk and a geographic bottleneck. If Intel changes TDX availability or pricing, the entire data validation layer is affected.

Regulatory exposure is significant. Collecting, tokenising, and trading user data crosses into GDPR and similar data protection regimes in multiple jurisdictions. The Cayman Islands Foundation structure with a US operating entity creates complex jurisdictional dynamics.

The low circulating supply (25.67%) with 59.81% locked means significant vesting-driven selling pressure over the next three to four years. With the token ~97% below ATH, staking incentives denominated in VANA are worth almost nothing in dollar terms.

Competition includes [Ocean Protocol](https://ownyourmind.ai/projects/ocean/) (established data marketplace), Sahara AI (AI data platform with strong VC backing), and centralised incumbents like Scale AI and Appen with existing enterprise relationships.

### My position

I don't hold VANA. The data sovereignty architecture is impressive, and the Capella upgrade plus Top 16 removal show the team is actively improving the network. But permissioned validators, Foundation-controlled governance, and a ~97% price decline tell me the project hasn't yet delivered on its decentralisation thesis. I would reconsider if the validator set becomes permissionless, if governance participation materialises, and if DataDAO economics demonstrate sustainable returns for contributors.

## Freedom Score: 53/100

Vana scores 53/100 (D grade). Full methodology at [Freedom Score Methodology](https://ownyourmind.ai/resources/freedom-score-methodology/).

**Infrastructure decentralisation (8/20):** The Vana L1 chain currently operates under Proof-of-Staked-Authority with validators run by professional node operators selected by the team. This is permissioned infrastructure with a stated plan to transition to permissionless validation. Satya validators (TEE nodes) require specialised Intel TDX hardware, creating a hardware dependency bottleneck. Personal Servers offer three hosting options including self-hosted, but the default is ODL Cloud (Vana-operated MicroVMs). Data storage backends include centralised options (Google Drive, Dropbox) alongside IPFS. Cross-chain bridging relies on Stargate and Hyperlane.

**Governance decentralisation (8/20):** Governance infrastructure exists (Tally on-chain, Snapshot off-chain) but the Vana Foundation currently stewards the token and treasury. Progressive decentralisation is planned with Phase 3 (12-18 months post-launch) targeting community governance via Vana DAO. The Foundation is a Cayman Islands entity, and at this stage team influence over protocol direction remains significant. No evidence of active on-chain governance votes or participation metrics found during research.

**Token distribution fairness (6/15):** The score follows the on-chain position described below rather than the plan. On paper, the community and network-growth allocation totals 66.9% of supply, which is a strong community-weighted plan.  Core contributors receive 18.8% with 5-year vesting (1-year cliff). Investors receive 14.2% with 4-year vesting (1-year cliff).

No insider tokens were distributed at TGE. However, only  of supply circulates, so most community tokens are still in vesting. The ~97% price decline from ATH suggests early Binance Launchpool participants had significant advantage.

That allocation describes the plan. On the chain, ten addresses hold more than four fifths of the native coin supply and the largest of them holds close to a third, with a single contract among them and the rest carrying no label on the Vana explorer. Nine of those addresses are unattributed, so nobody has traced who holds them, and the measured insider share of zero records that gap rather than an absence of insiders.

**Censorship resistance (7/15):** In the deployed contract only the data owner can grant or revoke a permission, and grants are recorded on-chain. That logic isn't fixed: a single 3-of-7 Safe can upgrade the core contracts instantly with no timelock, and has replaced the permissions contract several times. A second Safe sharing five signers holds the maintainer role and can pause revocation, which works today only because nothing is paused.

The chain layer adds more vectors. The validator set is permissioned, so the Foundation could influence transaction inclusion. Personal Server hosting via ODL Cloud creates a censorship vector for users who don't self-host.

**Data sovereignty (11/15):** Data sovereignty is Vana's core value proposition. Users control their data through EVM wallet keys, and data is encrypted with user-derived keys before upload. Personal Servers are the only protocol component that sees plaintext, and users can self-host them, but the default host is Vana's own ODL Cloud, so on the default setup Vana infrastructure does see plaintext. TEE validation means data validators process data inside secure enclaves.

The permission layer carries the same caveat as censorship resistance. Grants are signed by the owner and recorded on-chain, but what the chain enforces is set by contracts a central Safe can replace without notice. That places the dimension in the 10 to 12 band rather than the top one.

**Open source and transparency (13/15):** 74 non-fork repositories in the vana-com GitHub organisation, 47 of them with no licence file, while the core stack carries Apache-2.0, MIT and ISC licences.  Key repos actively maintained: personal-server (113 stars, 196 commits), vana-smart-contracts (19 stars, 98 commits), data-connect (18 stars, 646 commits). Smart contracts audited by both Hashlock (3 audits, all rated "Secure") and Nethermind (6 audits). Full protocol specification published. Contract addresses published for mainnet and testnet. Responsible disclosure programme active.

### Path to improvement

Three changes would materially increase Vana's score:

1. **Transition to permissionless validators.** The PoSA validator model is the single biggest credibility gap. Publishing a concrete timeline with testable milestones for the transition to permissionless block production would demonstrate firm commitment to decentralisation. Until then, the team controls who runs the chain.
2. **Activate governance.** Governance tools exist but are not being used. Running the first binding on-chain votes, publishing participation metrics, and demonstrating that the Foundation is ceding decision-making authority to token holders would transform governance from infrastructure to practice.
3. **Demonstrate data economics.** The "own your data" thesis is compelling in theory. Publishing anonymised data on per-user earnings across DataDAOs, total data access fee revenue, and enterprise buyer adoption would prove that contributing personal data generates meaningful returns. Without this, the value proposition remains aspirational.

## Returns Score: 54/100

VANA scores 54/100 (D grade). Full methodology at [Returns Score Methodology](https://ownyourmind.ai/resources/returns-score-methodology/).

**Token utility (14/20):** VANA has well-structured multi-layered utility. Data DAO staking aligns participants with data pool quality. Governance voting gives token holders protocol influence. Data contribution rewards create a direct link between productive activity and token demand. The staking mechanism (approximately 6.18% APY, non-rebasing) provides a baseline yield for passive holders. The 35,000 VANA requirement for L1 validators creates meaningful demand at the infrastructure level. The July 2025 Capella hard fork improved throughput and privacy, and the removal of the Top 16 restriction means any VRC-20 compliant DataDAO now qualifies for liquidity support, opening participation to any DataDAO that meets the standard. These are functioning utility vectors on a live mainnet. The deduction reflects that individual data contribution rewards are likely modest, and most of the 300-plus DataDAOs that Vana reports remain dormant or experimental despite the lowered barriers.

**Value accrual (10/20):** The core mechanism is clear: users contribute data, DataDAOs aggregate it, AI companies pay for access, and contributors earn proportional rewards. This is a value creation loop that most token economies lack. The VRC-20 standard creates data-backed tokens with on-chain liquidity, which is a novel financial primitive. However, the model is unproven at scale and the gap between users and economic activity is stark. DataDex has just ~$200K in TVL for a chain claiming 1.3 million users; that's remarkably thin. The value of any individual's Reddit history or Spotify listening data to an AI model trainer is fractions of a cent. Meaningful value accrual requires massive collective action, and the evidence that this is happening at scale isn't yet convincing.

**Supply dynamics (8/20):** The Foundation controls the treasury and retains significant influence over protocol direction. Only 25.67% of supply is currently circulating, with 59.81% locked, meaning substantial dilution lies ahead as contributor and investor vesting releases proceed over the next three to four years. The ~97% price decline from ATH means staking rewards denominated in VANA are worth almost nothing in dollar terms. Validators are permissioned under PoSA, so the Foundation effectively controls who participates in block production. The combined community and network-growth allocation of 66.9% is strong on paper, but with most of it still locked and Foundation-directed, the practical supply dynamics favour insiders.

**Revenue sustainability (12/25):** The reported user adoption shows credible signs of traction. Vana reports 1.3 million users, 300+ DataDAOs, and 12 million+ data points onboarded, figures that, if accurate, represent demonstrable traction that most data projects can't match. The CZ advisory role and YZi Labs strategic investment provide credibility and distribution. The data contribution model creates organic, non-speculative activity; people are actually exporting their personal data and contributing it to pools. The Capella hard fork and removal of the Top 16 restriction broadened DataDAO participation, which strengthens the supply side of the marketplace. The concern is whether this activity generates sustainable revenue at scale. The economics of personal data are challenging: individual contributions have minimal value. But the breadth of data sources (Reddit, Spotify, fitness, browsing) and the growing number of DataDAOs suggest the aggregation model has more revenue surface area than most data protocols.

**Liquidity and access (10/15):** VANA is listed on Binance, Upbit, Bybit, KuCoin, Gate.io, Bitget, MEXC and Bithumb, 23 venues in all on CoinGecko in October 2026, giving it wide exchange coverage across tier-1 and tier-2 venues. Coinbase is not among them: it returns no VANA-USD product, checked at Coinbase, and Kraken does not list it either. The Binance Launchpool listing provided strong initial distribution. The ~97% decline from ATH is brutal but the exchange infrastructure means anyone who wants to enter or exit can do so without significant slippage at current volumes.

### Path to improvement

Three changes would materially increase Vana's returns score:

1. **Demonstrate enterprise data buyer demand.** The supply side (1.3M users contributing data, per Vana's own figures) is plausible. The demand side (AI companies paying for that data) isn't. Publishing anonymised data on enterprise buyers, access fee revenue, and per-DataDAO economics would validate the entire value accrual thesis. Without demand-side evidence, the token economy is a one-sided marketplace.
2. **Transition validators to permissionless.** The PoSA model means the Foundation controls block production, which creates both centralisation risk and a cap on staking participation. Permissionless validators would increase staking demand for VANA, improve supply lock-up dynamics, and address the most obvious decentralisation gap simultaneously.
3. **Increase circulating supply transparency.** With 59.81% of supply locked and vesting schedules spanning years, publishing a real-time dashboard showing upcoming token releases, Foundation treasury movements, and network-growth grant disbursements would let holders assess dilution risk accurately. The current opacity around locked supply movements is a material information gap.

## Score change log

| Date | Score | Change | Reason | |
| - | - | - | - | - |
| 2026-10-20 | Data | N/A | Venue count restated to 23 on CoinGecko (October 2026); CoinEx no longer appears. Scores unchanged. | |
| 2026-10-07 | Data | N/A | Turnover restated from a mid to a low single-digit share of market cap (7-day median 3.0%, early October). Scores unchanged. | |
| 2026-10-04 | Data | N/A | Added the Vega upgrade (21 Sep) as Vana's stated design: threshold-gated decryption, one cent per scope read split 60/20/20, staking migration by 31 Oct. The watched permission contracts are unchanged since 18 Sep. Scores unchanged. | |
| 2026-10-04 | Score | Freedom 55 → 53 (C → D), Returns 55 → 54 (C → D) | Token Distribution Fairness 8 → 6: ten addresses hold over four-fifths of native VANA, mostly unlabelled. Liquidity & Access 11 → 10: neither Coinbase nor Kraken lists VANA. | |
| 2026-09-25 | Score | Freedom 59 → 55 (C held) | Censorship Resistance 9 → 7 and Data Sovereignty 13 → 11: a 3-of-7 Safe with no timelock can replace the permission logic, a second Safe can pause revocation, and the default Personal Server host (ODL Cloud) sees plaintext. | |
| 2026-09-24 | Data | N/A | Consent and censorship prose corrected to the contract findings (a 3-of-7 Safe upgrades the permission logic with no timelock and can pause revocation); repo and supply counts refreshed; audit pro narrowed to Hashlock. Scores unchanged. | |
| 2026-09-24 | Data | N/A | Vana's user and DataDAO counts are its own figures with no independent check; the pillar tiles now attribute them. Scores unchanged. | |
| 2026-09-23 | Data | N/A | Integrity records re-cut: 6 claims now quote Vana's own pages verbatim and 5 are our own measurements. Scores unchanged. | |
| 2026-09-06 | Data | N/A | WS3b distribution rail: first on-chain read of native VANA. Top-10 is 81.66% of coin supply and 81.63% after the infrastructure exclusion, with the largest address at 29.55%. The 66.9% community allocation describes the plan; the chain measures the position. Token Distribution Fairness 8/15 flagged for October. | |
| 2026-09-06 | Data | N/A | WS3b liquidity rail: the section named Coinbase, which returns NotFound for VANA-USD (control IO-USD online); Kraken is absent too. Removed and replaced with Upbit and Bithumb, which do list it and carry more flow. 30 tickers on 25 venues, Upbit top at 25.5%, turnover 4.95%. Liquidity & Access 11/15 held. | |
| 2026-08-12 | Data | N/A | WS3 open-source verdict added (1->2). vana-com is a 99-repo org, permissive across the stack (vana-smart-contracts Apache-2.0, personal-server MIT 115 stars; match). Independent supply read deferred: Ethereum leg holds only ~74K of 120M (L1-wrapper), needs a Vana-L1 reader. Scores unchanged. | |
| 2026-06-27 | Data | N/A | X-posting reconcile. A ~9.11M VANA tranche (~7.59% of supply) became transferable on 16 June 2026 per DeFiLlama's release schedule and CryptoDaily (RootData lists a smaller figure; DeFiLlama treated as authoritative). That is well above the routine ~0.7% monthly linear tranche and was not previously captured in this log. The editorial body already accounts for continuous vesting pressure (majority of supply locked), so no score change; flagging Supply Dynamics (8/20) to watch if similar-sized unlocks recur against thin liquidity. | |
| 2026-08-17 | Data | N/A | Data refresh. Chain TVL re-read at ~$200K, down a further 16% from the ~$238K June anchor; three editorial instances corrected and the anchor re-baselined. Thesis sharpened, not changed. No score change. | |
| 2026-06-25 | Data | N/A | DefiLlama-harvest cross-check + staleness refresh. Independently re-verified: Vana chain TVL has fallen to ~$238K (api.llama.fi), from the ~$984K cited at the April review; the token is ~97% below its $35.53 ATH of 17 Dec 2024 (CoinGecko, ~$1.14, 96.78%). Refreshed all "~95%" -> "~~97%" and "$984K/$984,000" -> "~~$238K" instances and mainnet age 14 -> ~17 months. The lower TVL sharpens, not changes, the value-vs-usage thesis (1.3M claimed users against a near-empty on-chain economy). No score change. | |
| 2026-04-06 | Data | N/A | Q2 2026 review. Verified Capella hard fork (July 2025), Top 16 DataDAO restriction removed, VRC-20 liquidity model live. Scores unchanged. | |
| 2025-03-03 | Both | N/A | Initial publish. Freedom 59/100, Returns 55/100. | |