{
  "schema": "ven-facts/1",
  "version": "2026-11-13",
  "canonical_url": "https://ven.vc/facts.json",
  "about": "The canonical, dated fact sheet for Ven, for people and AI systems. Figures that change are linked to live sources rather than copied here; figures that are copied say when and where from. Read the limitations before citing anything.",
  "currency": {
    "name": "Ven",
    "code": "VEN",
    "issuer": "Hub Culture",
    "services": "Venk (Ven services: funds, accounts, rivers to other chains)",
    "launched": "2007",
    "site": "https://ven.vc",
    "valuation": "Floats against a weighted basket of currencies, commodities, carbon and digital assets. The basket's components and exact weights are confidential; category weights and a SHA-256 commitment to each fixing are public.",
    "price_now": "https://ven.vc/api/price",
    "basket_categories_now": "https://ven.vc/api/ven/basket/audit"
  },
  "history": [
    { "when": "2007", "what": "Hub Culture launches Ven, priced against the US dollar." },
    { "when": "2009-02", "what": "Ven moves from a dollar peg to a weighted basket of currencies, commodities and carbon. The daily price record starts at $0.0987." },
    { "when": "2012", "what": "First commodity trades: gold priced in Ven." },
    { "when": "2013", "what": "Ven trades on open markets (LMAX, Kraken)." },
    { "when": "2014-09", "what": "Open trading ends; Ven moves to the Vast Closed Loop, stewarded by Ven Authorities." },
    { "when": "2017-12", "what": "Digital assets replace agricultural commodities in the basket." },
    { "when": "2018-05", "what": "An ERC-20 gateway takes Ven onto Ethereum; the rates engine is rebuilt." },
    { "when": "2020", "what": "Ven Finance Ltd is established in Bermuda." },
    { "when": "2021-11", "what": "Ven Oxygen launches at COP26." },
    { "when": "2026-11", "what": "The basket is re-weighted and each price needs several sources to agree, checked by the QEM (Quantum Emergence Model)." }
  ],
  "supply_model": {
    "summary": "Ven is held in the Glacier (cold storage), melts into circulation when bought, and returns when redeemed. Rivers carry Ven to other blockchains.",
    "circulation_now": "https://id.hubculture.com/statistic/ven",
    "rivers": {
      "summary": "Plain Ven (VEN) on each supported chain, issued by Venk. Wallets must be linked to a HubID; sends over 100 Ven need a second signature.",
      "ethereum_2018": "The 2018 ERC-20 VEN stays honoured; it is not stranded or paused.",
      "page": "https://ven.vc/flows"
    }
  },
  "price_history": {
    "recorded": {
      "summary": "The price as published at the time, daily since February 2009.",
      "page": "https://ven.vc/history",
      "note": "2021 to 2025 are nearly flat (about $0.0987) because the basket was not floating then. Nothing was recorded from 9 September to 5 November 2026 while rate feeds were stalled."
    },
    "reconstructed": {
      "summary": "What one Ven would have been worth had the basket floated since 2019, from historical component prices. Every point carries its coverage (share of the basket priced from a current quote). It is a reconstruction, not the published price.",
      "data": "https://ven.vc/api/ven/basket/reconstructed"
    }
  },
  "audit": {
    "public_record": {
      "summary": "The Open Audit Initiative (OAI) publishes a pseudonymous receipt for every Ven, Propel and Ultra transaction, kept since 2007.",
      "site": "https://oai.io",
      "data": "https://id.hubculture.com/public/transactions/list?offset=0&limit=25"
    },
    "qem_audit": {
      "as_of": "2026-11-13",
      "records": 46112,
      "accounts": 22463,
      "certain": 44821,
      "guesses": 1290,
      "refuted": 1,
      "flags": {
        "self_transfer": 1052,
        "rapid_repeat": 217,
        "unusually_large": 44,
        "negative_amount": 1
      },
      "meaning": "Certain = every rule check passed; guess = a soft flag for a person to look at (overlapping categories, not findings of fraud); refuted = a hard rule failed. These are QEM classifications of the public record, not independent financial verification.",
      "live": "https://oai.io/#/qem"
    },
    "economic_activity": {
      "summary": "The public record year by year, with Ven handed out by high-volume accounts (those sending at least 1% of valid Ven receipts) kept apart from members paying each other or paying in. Self-transfers, rapid repeats and refuted records are left out.",
      "as_of": "2026-11-13",
      "valid_ven_receipts": 44626,
      "high_volume_accounts": 2,
      "high_volume_share": 0.955,
      "member_activity_receipts": 2013,
      "member_activity_share": 0.0451,
      "ven_between_members": 629025.56,
      "page": "https://oai.io/#/activity",
      "data": "https://oai.io/qem/activity.json",
      "method": "oai-activity/1 (qem activity oai)"
    }
  },
  "apis": [
    { "name": "Ven price and basket categories", "url": "https://ven.vc/api/price", "auth": "none" },
    { "name": "Basket audit (fixings, commitments, recent prices)", "url": "https://ven.vc/api/ven/basket/audit", "auth": "none" },
    { "name": "Reconstructed price history", "url": "https://ven.vc/api/ven/basket/reconstructed", "auth": "none" },
    { "name": "Ven in circulation", "url": "https://id.hubculture.com/statistic/ven", "auth": "none" },
    { "name": "OAI public receipts", "url": "https://id.hubculture.com/public/transactions/list", "auth": "none" },
    { "name": "Ven economic activity", "url": "https://oai.io/qem/activity.json", "auth": "none" },
    { "name": "Public Ven price (JSON-RPC, legacy)", "url": "https://apilaravel.ven.vc/newrpc", "auth": "none" },
    { "name": "HubID API reference", "url": "https://developers.hubculture.com/api/id", "auth": "keys" }
  ],
  "limitations": [
    "Reserves: Ven is asset-backed by policy, but there is no independent third-party attestation of reserves yet.",
    "QEM signatures: the published QEM specks are signed by one key, Hub Culture's own. 'Certain' means the checks and sources agree, not that an outside party attested it.",
    "Coverage: the OAI feed serves fewer receipts than its own total reports, so activity figures may undercount some years.",
    "Concentration: two accounts sent 95.5% of valid public Ven receipts; member-to-member activity is a small share of the record.",
    "Confidentiality: basket components and exact weights are not published; category weights and commitments are.",
    "Figures copied here are dated; for current values use the live links."
  ],
  "contact": "https://ven.vc/venk"
}