what's Vara Network?
Vara Network is a Substrate-based, Proof-of-Stake Layer-1 blockchain powered by the Gear Protocol. It introduces Actor model smart contracts written in Rust, enabling parallel execution, advanced sharding, and built-in security features for high scalability and efficiency. With 3-second transaction finality and sub-cent fees, Vara overcomes limitations of traditional smart contract platforms. It supports modern Web3 applications through seamless DeFi infrastructure, NFT marketplaces, and cross-chain bridges, fostering a robust ecosystem for developers and users.
Vara.eth, a high-performance Ethereum scaling layer, announced after trustless bridge launch.
Became available for trading to New York residents on Coinbase.com and Coinbase iOS and Android apps.
The Ethereum bridge goes live with trustless interoperability. Vara.eth, a high-performance application layer for scaling Ethereum, is announced as the next development.
UAE's Federal Decree-Law No. 6 of 2025 penalizes unlicensed business entities facilitating financial activities. UAE launches a stablecoin.
Dubai unveils Financial Sector Strategy designating Virtual Assets as key pillar targeting 3% of GDP (AED 13B); VARA-regulated entities processed AED 2.5T transactions YTD with AUM at AED 9.6B.