Vanar has announced its transition from a Layer 1 blockchain to the Base chain, focusing on developing an AI Organizations economy. The migration will see the total supply of its token, VANRY, increase from 2.4 billion to 10 billion. Existing VANRY holders will migrate their tokens at a 1:1 ratio, ensuring their holdings remain unchanged. The expanded supply aims to support ecosystem incentives, developers, partners, and infrastructure.
During the migration, 62% of the total supply will remain locked, with a 60-month vesting period following a cliff period. This means that full distribution will take five years, with approximately 1% of the total shares released monthly after the cliff period. Vanar will also discontinue its validator staking on Vanarchain, integrating its infrastructure into the Base network. The Vanar Genesis event is set for August 3, launching the first AI Organizations and a 100 million VANRY reward pool to boost high-performing projects.
Vanar Migrates to Base Chain, Expands VANRY Token Supply to 10 Billion
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