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.
Due to the evolving nature of regulation around cryptographic assets, disruption will be constant. All token distribution mechanisms, eligibility criteria and distribution percentages described here or in other materials may be subject to change. Please read the terms and conditions before participating in the airdrop.
Terms & Conditions
NavCoin Airdrop - 32 Million VALE
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.
This allocation of VALE will be split proportionally between addresses which participate in staking NAV from the start date (NavCoin block height 2,663,000 - approximately 00:00 GMT 1 December 2018) until the public token distribution portal for Valence is launched (timing TBC but currently expected to be in early to mid 2020). If an address stakes 1% of the blocks during this period and all other eligibility criteria for receiving the tokens are satisfied, they will be eligible for 1% of the VALE in this segment.
VALE tokens will be distributed via Valence’s public distribution portal during the distribution event (2 - 3 month window). At that time, users must register for the portal and prove they are the owners of the addresses which performed staking to claim their VALE. Proof of claim is by providing the NAV address which mined the eligible blocks and their cryptographic signatures as proof of ownership.
Claim due will be calculated from the publicly veriﬁable NavCoin blockchain data. VALE will be distributed to eligible participants at the end of the public distribution period.
Depending on the legislation of your jurisdiction at the time of public distribution, there may be additional eligibility criteria and some jurisdictions may need to be excluded altogether. So, please note that participation in the airdrop does not guarantee you an entitlement to any tokens.
Please read the full terms and conditions. Your participation in the airdrop is considered agreement to the terms and conditions.
Other Distributions - 68 Million VALE
We are in the process of deﬁning the other mechanisms we will use to distribute VALE to the public and fund the project. The other public 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 full details of each of these distribution segments will be published as the details are conﬁrmed and their commencement is nearer.
Mining - 3.15 Million VALE
Once the Valence Platform launches, the blockchain will be validated by a variant of Proof of Stake. Anyone who has valid collateral and meets the services requirements is eligible to participate in maintaining the network.
We intend there to be a fixed number of approximately 3.15 million VALE to be distributed via mining each year.
Valenode Rewards - 1.05 Million VALE
Valenodes will provide the backbone of the data network which serves Valence Application data as well as other network functions such as routing for the encrypted communication protocol. The collateral amount to run a Valenode is yet to be deﬁned, but we are aiming to make it a low barrier to entry to incentivise decentralisation. Anyone with a valid collateral transaction who meets the service requirements is eligible to participate.
We intend there to be a fixed number of approximately 1.05 million VALE to be distributed to Valenodes each year.
VApp Kickstarter - 1.05 Million VALE
These tokens can be accessed by community driven proposals for building new Valence applications. The intention is to provide the network with a mechanism for supporting new applications which provide services to the network.
With an initial distribution of 100 Million VALE the initial inﬂation would be approximately 5.25 Million VALE per year depending how many blocks are minted. There will be no maximum supply set, but with the new supply remaining constant over time the inﬂation is exponentially decreasing as a percentage.
If you're new to the Valence Platform, make sure you check out the article series we've published to the news section , check out the project roadmap and read the white paper to familiarise yourself with what it's all about.
If you want to get involved with this project or just drop in and see what's going on, you can join the discussions on our social channels.