In parallel to planning the alpha build of the Valence Platform, the founding team have been working hard to figure out how to distribute the VALE tokens which will be used as credits on the network to write to and manage decentralised applications.
Valence will use a variant of the Proof of Stake consensus mechanism to secure its blockchain. This means for network security it is important to have a wide distribution of the VALE tokens. Additionally, wide distribution is an important part of creating a broad community of VApp users and developers to help drive a thriving open source community.
For these reasons, the majority of VALE will be distributed to the public using various airdrop mechanisms.
We are in the process of deﬁning the full raft of mechanisms we will use to distribute VALE to the public and fund the project. Some of the pubic distribution methods we are considering are bug bounty programmes during the public beta, an airdrop to GitHub developers at the time of public distribution, a Valence Application kickstarter programme after launch, and more.
The details of each of these distribution segments will be published as the details are conﬁrmed and their commencement is nearer.
Proposing fair and secure distribution methods which activate the correct audiences while navigating the emerging and uncertain regulatory environment has been an interesting challenge in and of itself. The first airdrop which we are excited to announce today is the Valence Mining Airdrop.
The NavCoin community are one of our core audiences for Valence due to where the idea came from and their involvement in getting the project this far. To activate the NavCoin community as Valence application users and developers we will be distributing a large portion of VALE to the owners of NAV.
32 Million VALE will be split proportionally between addresses which participate in staking NAV from the start date (1 December 2018) until the public token distribution portal for Valence is launched.
For the full details about the airdrop mechanism, annual inflation and the full terms and conditions please visit the link below.
We are also pleased to inform the public that the Valence Platform’s use of the VALE token and the Valence Mining Airdrop distribution method of VALE has been reviewed by New Zealand’s FMA (Financial Markets Authority) and they have commented that at this stage, they have no concerns with this project from a regulatory perspective. We will continue to work closely with the regulators in New Zealand and abroad as the project progresses to do our best ensuring the Valence Platform remains firmly on the correct side of regulation and compliance.