If your VLTA is stolen, there is a public way to get it back.
A theft claim freezes the stolen coins where they sit. After a public review and a 7-day wait, the same amount returns to the owner's new address. Total supply never changes.
2 · Within 30 daysThe owner files a claim with evidence.
3 · At onceThe coins are frozen where they sit.
4 · Within 24 hoursThe freeze is explained in public.
5 · Public reviewEvidence is checked. Appeal is open.
6 · 7-day timelockThe order waits before it can run.
7 · ReturnOne order burns the frozen VLTA and mints the same amount to the owner's new address.Total supply: unchanged
Theft recovery as designed for Mainnet, with example amounts. People who received coins in good faith, such as exchanges and merchants, are never touched. Whitepaper §10.3
The main chain is mined with proof of work and settles every VLTA. A fast layer on top confirms payments in about 0.2 seconds and writes every batch back to the main chain.
Any other account using the Valletta name is not from Valletta. Check the handle against this list.
The team never sends the first private message.
No one from Valletta will ask for your recovery phrase or keys.
Nothing is for sale today. Any offer of VLTA is not from Valletta.
Questions
Is Valletta live?
Not yet. Valletta is in development. The next step is a proof of concept, then a public Testnet with a full security audit and a bug bounty. Mainnet opens only when every gate before it is met.
Can I buy VLTA today?
No. VLTA does not exist yet, and nothing is for sale. If anyone offers you VLTA today, the offer is not from Valletta.
Can theft recovery touch my coins?
Only coins identified as stolen can be frozen, after a claim filed within 30 days, a public review with appeal and a 7-day timelock. People who received VLTA in good faith, such as exchanges, merchants and liquidity pools, are excluded, and total supply never changes.
How will mining work?
Valletta uses RandomX, which runs on ordinary CPUs. Monero miners can merge-mine Valletta at the same time. Mining is open to any software, and the official miner and pool are optional.
Does Valletta work with Ethereum tools?
Yes. Execution runs the EVM on reth, with 18 decimals and Ethereum transaction formats, so MetaMask, Solidity, ethers and viem work without changes. WASM contracts follow in version 1.1.
What is USVT?
USVT is the planned Valletta Dollar, a dollar stablecoin. It starts on Testnet, labelled as not backed and not redeemable. Production issuance waits for a licence, an issuer, a custodian, independent attestation and verified reserves.
The network
Two layers: security below, speed on top
The main chain is built for security and stays simple. Speed comes one layer up, on a rollup that records every batch of transactions on the main chain.
Block cadence · last 60 sDesign targets, not live data
Drawn at the design targets: fast-layer blocks about every 2 s, grouped into a batch that a main-chain block records about every 12 s. Live Testnet data replaces this drawing when the public Testnet opens. §12.1
What each layer does
Apps and productsWallet · Launchpad · Harbour · Pay · EscrowOne ecosystem under one brand.
run on
Fast layer0.2 s confirmations · 2 s blocksAn OP Stack rollup for trading and apps, with fees in VLTA.
Every batch is recorded on the main chainUsers can always exit through the bridge
Valletta main chainRandomX · merged mining · 10 to 15 s blocksEVM contracts and final settlement of every VLTA.
Main chain
Fast layer
Purpose
Store and settle value
Fast trading and apps
Blocks
About every 10 to 15 seconds
About every 2 seconds, confirmed in about 0.2 seconds
Fees
Base fee and tip, in VLTA
A fraction of a cent, in VLTA
Final
After enough proof-of-work blocks
When its batch is final on the main chain
Security
Proof of work
The main chain, through the bridge and proofs
All figures are design targets for a network in development, confirmed by measurement before Mainnet.
The film · about 50 seconds
Follow one payment, start to finish
A tap in the wallet, a confirmation in about 0.2 seconds on the fast layer, a batch written into the main chain, and a block found by miners.
Example amounts and block heights. Block times are design targets.
How a block is made
A Valletta node has two halves that talk through the Engine API: a proof-of-work consensus client and a reth execution client that runs the EVM. §3.2
Transactions waitUsers send transactions to any node, and they wait in reth's pool.
A block is assembledA mining node asks reth to build a block from the pool.
Proof of workThe consensus client finds RandomX work that meets the target, its own or a Monero merged-mining proof.
The block goes outThe finished block is sent to peers.
Every node checks itEach node checks the header and its work, then reth runs every transaction.
Most work winsEvery node follows the valid chain with the most accumulated work.
Proven parts, new code only where needed
Six principles decide every trade-off. When they conflict, security comes first. §2
Built on
RandomX
The CPU mining algorithm Monero has used since 2019
Merged mining
Monero pools can secure Valletta at the same time, at no extra cost
reth
A modular Ethereum client in Rust that runs the EVM
EVM
Solidity, MetaMask, ethers and viem work as they are
OP Stack
The rollup software behind Base and opBNB
WASM
Contracts in Rust and other languages, in version 1.1
Security first
Proven, audited components and the smallest possible amount of new consensus code.
Determinism
A block is valid or invalid from chain data alone, never from a company server.
Reuse before invention
RandomX, reth, the EVM, the OP Stack and published Ethereum and Bitcoin standards.
Transparency
Public addresses for every company and fund wallet, and an annual report on the use of funds.
Sovereignty
Users hold their own keys. Node operators choose which software release to run.
Change with notice
Upgrades ship with a published activation height. Privileged actions wait seven days.
Security
Stolen coins can come back, in public
Recovery covers theft, fraud and hacks from the day Mainnet launches, including VLTA held on the fast layer. It never takes coins from people who received them in good faith, and total supply never changes. Whitepaper §10.3
Follow one case, step by step
5,000 VLTA are stolen. 500 of them reach an exchange that took them in good faith, so they stay out of reach. The other 4,500 come back.
0Day · the theft
A thief takes 5,000 VLTA
The owner's keys are stolen. The thief moves 5,000 VLTA to their own address, then sends 2,000 to a linked address and deposits 500 at an exchange.
transfer · 5,000 VLTA · 0x51c4…a3e7 → 0x9f02…2c11
Balances · example addresses
Address
VLTA
Status
Owner · old 0x51c4…a3e7
0
Thief 0x9f02…2c11
2,500
Linked to the theft 0x4c7b…e190
2,000
Exchange 0xe8a0…41d2
500
Owner · new 0x7d3e…0b58
0
Total supply · example61,402,118 VLTA · unchanged
An illustration with example amounts, addresses and days. The evidence standard, the good-faith test, the maximum freeze length and the appeal procedure are set in the recovery policy, with legal counsel, before Mainnet.
The film · about one minute
The same case, in one minute
A claim, a freeze the same day, public review, a 7-day timelock, and one order that burns the frozen coins and mints the same amount back to the owner.
An illustration. Amounts, addresses and days are examples.
No single person holds a privileged power
Nine roles, each its own multisig: 3 of 5 signers, at least 2 outside Arkenvale Software, all on hardware wallets, and a 7-day timelock on every on-chain action except pause and freeze. §10.2
Role
What it controls
Recovery
Freezes of stolen VLTA and recovery orders that return it to its owner
Release signing
Official node releases
System contracts admin
USVT roles and other system contracts
Company treasury
The 6.5% subsidy share, the 20% base-fee share, the company allocation and revenue from the fast layer, the Launchpad and Harbour
Liquidity fund
The 22.5 million VLTA allocation and 20% of base fees, under a published policy and monthly cap
Research and development
The 2.5 million VLTA allocation, under a published budget
USVT pauser
Emergency pause and freeze of USVT only
Checkpoints
Early-period checkpoints, until their end height
Fast layer and Launchpad
Upgrades and parameters of the bridge, the fast layer and the Launchpad and Harbour contracts
Every unit has a serial number
Units are numbered in the order they are created: genesis allocations first, then each block's subsidy. Anyone can rerun the count and get the same result. That is how stolen coins are traced. §10.3
VLTA serial numbers
100,000,000
Bastion serial numbers, 1 VLTA = 1,000,000 Bastion
100,000,000,000,000
Other protections
Open proof of work
RandomX runs on ordinary CPUs, and merged mining with Monero adds existing hashpower from the first day.
Safe early days
While hashrate is small, checkpoints signed by 3 of 5 signers protect the chain, and exchanges follow a published confirmation policy.
Audited before launch
An outside architecture review, a full security audit and a public bug bounty come before Mainnet.
Upgrades by consent
Rule changes ship as signed, reproducible node releases. Node operators decide whether to run them.
What we test against
Valletta is built against a written threat model, and outside firms review it twice before Mainnet. §11.1
Area
Attacks considered
Consensus
51% attacks with rented hashrate, selfish mining, eclipse and time-warp attacks, forged merged-mining proofs
Supply
Inflation, overflow, rounding, emission and split errors, vesting bypass
Recovery
Compromised keys, false claims, freezing the wrong holder, legal pressure
USVT
Mint without approval, a compromised approver, replay, pause bypass
Pays for every transaction and rewards miners. A fixed supply of 100,000,000: half at genesis, half mined over 20 years. 1 VLTA = 1,000,000 Bastion.
Stablecoin
USVT, the Valletta Dollar
Every mint needs two independent signatures, checked on chain. USVT starts on Testnet, labelled not backed and not redeemable. Production waits for a licence and verified reserves. §8
VLTA supply, published to the last unit
Every company and fund wallet has a public address, and every vesting schedule is visible in the explorer. §6
Computed from the emission formula. Years assume blocks arrive on target; subsidy per block assumes 15-second blocks. After year 20, miners earn fees only.
Where every VLTA starts
Shares of the 100,000,000 maximum supply. Everything at genesis sits in contracts or multisigs from the first block. §6.3
Allocation
VLTA
Share of max supply
Control and release
Mined over 20 years
50,000,000
50%
Block subsidy, 93.5% to miners and 6.5% to the company
Liquidity fund
22,500,000
22.5%
Its own 3-of-5 multisig, a published usage policy and a monthly release cap
Founders and developers
10,000,000
10%
Vesting contract: 12-month cliff, then monthly over 36 months
Company
7,500,000
7.5%
Vesting contract: monthly over 48 months
Early sale
7,500,000
7.5%
Under the sale agreements, set with legal counsel
Research and development
2,500,000
2.5%
3-of-5 multisig with a published budget
The vesting contracts are deployed in the genesis block and have no admin keys. No one can change them, the company included.
Where rewards and fees go
Base fees are shared, not burned. Arkenvale Software receives 6.5% of the block subsidy: at most 3,250,000 VLTA over 20 years. §5.2
Miner
Liquidity fund
Company
Block subsidyNew VLTA in every block
Miner 93.5% · Company 6.5%
Base feePaid on every transaction
Miner 60% · Liquidity fund 20% · Company 20%
Priority tipOptional, to go faster
Miner 100%
Total supply over time
At genesis
50.0M VLTA
After 1 year
58.2M VLTA
After 4 years
75.8M VLTA
After 20 years
100M VLTA
Ecosystem
One ecosystem, built in three phases
Mainnet brings what traders and builders need on day one. Phase 2 adds payments and trust services. Phase 3 holds the products that need a licence, so they never delay the launch.
At Mainnet
Valletta walletFive networks, and your keys stay with you
Fast layerConfirmations in about 0.2 seconds
LaunchpadNew tokens with safety rules
HarbourA decentralized exchange with locked liquidity
Explorer and SDKsTools for developers
Phase 2 · after Mainnet
Valletta PayCheckout, payment links, QR codes and an API for businesses
RecurringSubscriptions you can cancel before each payment
EscrowSafe deals between people who do not know each other
AI risk signalsWarnings that show their reasons, with a way to appeal
Developer platformOne SDK, a browser wallet and WASM contracts
Phase 3 · after licensing
Valletta ExchangeAn order-book exchange with segregated custody
ProtectCover for wallet assets through a licensed insurer
USVT in productionThe dollar stablecoin, backed by verified reserves
Valletta wallet
Your keys stay with you
Keys live on your phone or hardware signer, never on Valletta's servers. Ledger and Trezor work through their Ethereum apps. iOS and Android at Mainnet; a browser extension follows in phase 2. §9
One recovery phrase, five networksValletta, Bitcoin, Ethereum, Solana and TRON.
Check before you signA plain preview of what you are signing, with phishing checks on the address.
Confirmed in about 0.2 secondsOn the fast layer, then recorded on the main chain with the next batch.
A risk score on every tokenWith the reasons behind it, and a way to appeal. A warning, never a promise.
Launchpad and Harbour
New tokens, with safety built in
Create from a standard templateFixed supply, verified details and no owner powers after launch.
Trade on a price curveThe price rises as people buy and falls as they sell. Creators earn a share of the fees.
Graduate to HarbourAt a set threshold the token moves to a Harbour pool, and its liquidity is locked for good.
Safety defaults on every token
Liquidity locked
No new minting
Protection from sniping bots
Risk score in the wallet
Copycat tokens flagged
Tokens created on the Launchpad are issued by third parties, not by Valletta, and can lose all their value. §12.3
The products after Mainnet, in motion
Four short films. Choose one; each plays when you press play.
Every product launches only after its own audit, and the ones that need a licence wait for it. Amounts on screen are examples.
What comes after Mainnet, and what each one waits for
Each product launches only after its own audit, and the ones that need a licence wait for it. §13
Product
Phase
What it does
Before it launches
Valletta Pay
Phase 2
Payments for businesses, from a checkout page to a QR code at the counter, settled on the fast layer.
Payment APIs and the custody model are decided, the product passes its own audit, and it is licensed where the law requires.
Recurring
Phase 2
Subscriptions with a limited authorization: the next payment is locked in advance, and you can cancel before it is due.
How payments are locked in a contract is decided, and the product passes its own audit.
Escrow
Phase 2
Deals between people and businesses that do not know each other: funds wait in escrow until the conditions are met.
Custody and the authority to settle disputes are decided, the product passes its own audit, and it is licensed where needed.
AI risk signals
Phase 2
Risk scores for tokens and contracts in the Launchpad, Harbour and the wallet, each one with its reason and a way to appeal.
Data sources, false-positive handling and the appeal process are set, and the product passes its own review.
Developer platform
Phase 2
One SDK and API for the wallet, Pay, Escrow, the Launchpad, Harbour and risk data, with a sandbox and signed webhooks.
Each API ships with the product it serves and passes the same audit.
WASM and browser wallet
Phase 2
Contracts in Rust and other languages, running in the same state as the EVM, and the Valletta wallet on desktop.
The WASM engine, metering and cross-VM rules are decided, and version 1.1 passes its own audit.
Valletta Exchange
Phase 3
A centralized exchange, separate from Harbour, with a spot order book, segregated custody, market surveillance and compliance.
A licence in each market where it operates, custody security and its own audit.
Protect
Phase 3
Cover for supported assets in the official wallet, through a licensed insurer. It is separate from theft recovery on the network.
A licensed insurer and a regulated cover product.
USVT in production
Phase 3
The dollar stablecoin, issued in production only with an issuer, a custodian, independent attestation and verified reserves.
A licence, an issuer and a custodian, redemption terms and verified reserves.
Finality layer
Research
Signed finality in seconds on top of proof of work, with stronger protection against majority attacks.
A founder decision of its own, after research.
Roadmap · updated 2 November 2026
Each stage opens at a gate, not a date
Twelve stages, from the design to version 2. A stage ends only when its exit criteria are met and published, and nothing launches before its own audit is complete.
Background: blocks passing between nodes. An illustration, not live data.
The architecture, the token model and the security model are written down and decided.
GateThe design is published
Whitepaper version 1.0
Engineering specification with a register of founder decisions
Brand, website and presentations
Stage 2Now
Team and first funding round
Valletta is led by its founder today. This stage builds the core team of Arkenvale Software, the company that develops Valletta, and its legal structure.
GateThe core team is in place and the round’s terms are published
Core engineers for consensus, the fast layer, security and the wallet
Legal counsel and a legal structure for each market
A first funding round, opened only after legal approval and published terms
Stage 3Next
Proof of concept
A local multi-node network proves the integrated core before anything else is built.
GateAn outside architecture review is complete and the core decisions are signed
Four or more nodes agree on RandomX blocks with a 10 to 15 second target
reth runs EVM transactions through the Engine API
Emission, fee splits and vesting exact to the last base unit
Merged-mining proofs checked against Monero test vectors
Frozen amounts and recovery orders hold across reorganizations
An OP Stack development network settles to the PoC network
Test
Stage 4Planned
Testnet preparation
Everything a public network depends on is decided and published first.
GateEvery pre-Testnet decision is published
Serial-number rules and their public API
Checkpoint interval, signing and end height
Liquidity fund policy and its monthly release cap
Signers, key ceremonies and the root-of-trust register
Genesis addresses, vesting parameters and chain ID
Stage 5Planned
Main-chain Testnet
The first public network, open to miners, wallets and developers.
GateThe main chain runs stable
A public proof-of-work network
USVT (TEST), labelled not backed and not redeemable
The Valletta wallet and the explorer on Testnet
The data lane for the fast layer goes live
Stage 6Planned
Fast-layer Testnet
The fast layer joins the Testnet once the main chain is stable.
GateThe fast-layer design is final
The fast layer settles to the main-chain Testnet
Launchpad and Harbour on Testnet
Fee levels and the creators’ share are set
Speed targets confirmed by measurement
Stage 7Planned
Audits and bug bounty
Outside firms review the whole system before anything goes live.
GateAudit findings are fixed and the evidence is published
A full security audit of every component
A public bug bounty
The recovery policy, set with legal counsel
The evidence required before Mainnet, published
Launch
Stage 8Launch
Mainnet
The genesis block is mined and the network opens to everyone.
GateEach product passes its own audit
Open mining with RandomX and Monero merged mining
The fast layer, the Launchpad and Harbour launch together
The Valletta wallet for iOS and Android
The explorer and SDKs in TypeScript and Rust
Theft recovery active from the first day
Basic risk checks on every token
Grow
Stage 9After Mainnet
The early network
The first period after launch, while hashrate grows.
GateCheckpoints reach their end height
Checkpoints signed by 3 of 5 signers until their end height
A published confirmation policy for exchanges
Liquidity for graduated tokens from the liquidity fund, under its policy
Annual reports on the use of funds and on recovery
Stage 10Phase 2
Version 1.1 and phase 2 products
Payments, trust services and new tools for developers.
GateEach product’s audit, and a licence where a product needs one
WASM contracts in the same state as the EVM
The browser-extension wallet
Valletta Pay and Recurring
Escrow
AI risk signals
A developer platform with a sandbox and signed webhooks
Expand
Stage 11Phase 3
Licensed products
The products that need a licence, so they never delay the network.
GateA licence for each product, verified reserves for USVT and a licensed insurer for Protect
Valletta Exchange: an order book, segregated custody and compliance
Protect, with a licensed insurer
USVT in production, backed by verified reserves
Stage 12Research
Version 2 research
Research that would change the security model, so it is decided on its own.
GateA founder decision of its own
A finality layer: signed finality in seconds on top of proof of work
Stronger protection against majority attacks
Stages follow the whitepaper and the engineering specification. There are no dates: each stage opens when the one before it passes its gate. §14
What must be proven before Mainnet
Mainnet opens only when this evidence is in place and published. §11.3
Every block replays deterministically from genesis.
Property tests prove emission totals exactly 50,000,000 VLTA and every fee split is exact.
Multi-node tests cover forks, reorganizations, merged-mining proofs and checkpoints.
The EVM passes a conformance suite for its declared subset.
Every USVT mint without a valid external approval is rejected.
A frozen amount cannot leave its address, and every recovery burns and reissues the same amount.
The fast layer follows main-chain reorganizations and lets users exit while its operator is offline.
The wallet passes backup, signing, sending and restore tests on all five networks.
Two independent serial-number runs give identical results.
Fuzzing, chaos and load tests run on the whole system.
Team
Built by Arkenvale Software
Arkenvale Software is a blockchain engineering and information-security company. It develops Valletta: the node, the fast layer, the wallet and the products built on the network.
Who leads it
Founder
Yanal
Sets the vision and the product, and signs every architecture decision.
Blockchain engineering
Consensus, the fast layer, smart contracts and the wallet.
Security engineering
Threat models, internal reviews, and outside audits before every launch.
Shared control
Every privileged role is a 3-of-5 multisig with at least 2 signers outside Arkenvale, all on hardware wallets.
In 1565 about 9,000 defenders held Malta for four months against a force of some 40,000. A year later they laid the first stone of Valletta, a new city planned from the start as a fortress.
In the Valletta mark, two chains of blocks meet at a gold gem: the genesis block, the first stone of the network.
Early supporters
A first funding round is planned. It is not open yet.
Valletta plans a first round to fund the work between the design and a live network. Nothing is for sale today. There is no price, no payment address and no way to take part yet.
What the round will fund
The proof of concept: four or more nodes mining with RandomX, reth through the Engine API, and a fast-layer development network.
An outside architecture review, a full security audit and a public bug bounty.
The core engineering team for consensus, the fast layer, security and the wallet.
The legal structure, licensing and compliance in each market.
How the round will open
Legal structureLegal counsel sets the structure of the round and the countries where people may take part.
Published termsPrice, eligibility, vesting and risks appear on this page before anything opens.
Identity checksEvery participant completes identity verification and anti-money-laundering checks.
ParticipationOnly then does the round open, through this site and nowhere else.
What is already set
The genesis allocation reserves 7,500,000 VLTA, 7.5% of the maximum supply, for an early sale. These coins are released under the sale agreements, which legal counsel will set. The full allocation is on the token page.
Stay safe
Valletta will never ask for your recovery phrase or private keys.
Valletta will never ask you to send crypto to an address in a private message.
Until this page says the round is open, any offer to sell VLTA is not from Valletta.
Official announcements about the round appear on this page first.
Whitepaper · Version 1.0
Valletta Whitepaper
The full design, from consensus to the legal notice. Every source reference on this site links to a section here.
29 October 2026 · Yanal, Arkenvale Software
Abstract
Valletta is an independent Layer-1 blockchain secured by proof of work and built for one purpose: to store and move value safely. Its native coin, VLTA, has a fixed maximum supply of 100,000,000. Half exists at genesis under published allocations, with founder and company shares locked in on-chain vesting. The other half is mined over 20 years on a smooth curve.
Valletta is developed by Arkenvale Software, a blockchain engineering and information-security company. In this paper, "the company" means Arkenvale Software.
Blocks are mined with RandomX, the CPU-oriented algorithm used by Monero. Monero miners can also merge-mine Valletta, adding their hashpower to its security at no extra cost. Execution runs on reth, an Ethereum client written in Rust, so Ethereum wallets, languages and tools carry over.
Fees follow EIP-1559 with one change: the base fee is shared, not burned. The miner receives 60%, a liquidity fund 20% and the company 20%. The company also receives 6.5% of each block subsidy, at most 3,250,000 VLTA in total.
Every unit of VLTA has a serial number. If coins are stolen, they can be frozen and returned to their owner through a public recovery process that never touches people who received them in good faith.
For fast, cheap trading, a second layer on top of the chain targets confirmations in about 0.2 seconds and fees of a fraction of a cent, with a Launchpad for new tokens and meme coins. It launches together with Mainnet and leaves the main chain's security unchanged.
Around the chain sit USVT, a dollar stablecoin that needs two independent signatures for every mint, and a non-custodial mobile wallet. Valletta is in development. This paper describes the version 1 design; values marked as targets are confirmed by measurement before Mainnet.
1. Introduction
Valletta exists to give people money they control themselves: secured by work, governed by published rules, and open to the whole Ethereum toolset.
1.1 A city built after a siege
In 1565 about 9,000 defenders held Malta from May to September against a besieging force of some 40,000. In 1566 they laid the first stone of a new city, Valletta, planned from the start as a fortress. They did not patch the old walls; they built something new.
1.2 The same moment for money
In 2008 the financial system went through a siege of its own. Banks failed, governments rescued them with public money, and the public carried much of the cost. On 3 January 2009 the first Bitcoin block was mined, carrying a newspaper headline about a second bank bailout.
Bitcoin showed that value can move on an open network secured by work instead of trust in an institution. Valletta builds on that foundation, and takes its name from the city built to never fall.
1.3 The problem
People who want to hold and use digital money on their own terms still face trade-offs:
Security or programmability. The proof-of-work network with the longest security record supports only simple scripts. Most smart-contract platforms run on proof of stake, where the right to produce blocks follows capital already held on the chain.
Unclear rules. Many new networks launch with allocations, unlock dates and upgrade powers that are hard to verify.
Fragmented use. Holding a coin, a dollar stablecoin and DeFi positions often means several networks and bridges, and each bridge adds risk.
1.4 Valletta's answer
Open proof of work. RandomX lets anyone with an ordinary CPU mine. Merged mining with Monero adds existing hashpower from the first day.
Ethereum execution. The EVM runs on reth, so wallets, Solidity contracts and developer tools carry over.
Fixed, published supply. 100,000,000 VLTA at most, a 20-year emission curve, and vesting enforced by contracts with no admin keys.
Fees that build the network. The base fee pays miners and funds liquidity and development in the open, instead of being burned.
One ecosystem. A non-custodial wallet and the USVT stablecoin come first, followed by the Harbour DEX and Valletta Exchange, on one network under one brand.
Theft recovery. Every unit has a serial number. Stolen coins can be frozen and returned to their owner through a public process that never touches people who received them in good faith.
Speed where it matters. A fast layer on top of the chain gives traders confirmations in about 0.2 seconds and fees of a fraction of a cent, while the main chain keeps its proof-of-work security.
2. Design principles
Six principles decide every trade-off in Valletta, and security comes first whenever they conflict.
Principle
What it means in practice
Security first
Proven, audited components. The smallest possible amount of new consensus code. Balances move only with their owner's signature, or by a public recovery order that returns stolen coins.
Determinism
A block is valid or invalid from chain data alone, never from a company server. Consensus uses integer arithmetic only.
Reuse before invention
RandomX, reth, the EVM, the OP Stack and published Ethereum and Bitcoin standards. New code only where Valletta truly differs.
Transparency
Public addresses for every company and fund wallet, vesting enforced on chain, published policies and an annual report on the use of funds.
Sovereignty
Users hold their own keys. Node operators choose which software release to run, so rules change only when the network adopts them.
Change with notice
Upgrades ship as node releases with a published activation height. Privileged actions wait behind a 7-day timelock.
3. Architecture
A Valletta node has two halves that talk through the Engine API: a proof-of-work consensus client that decides which chain is valid, and a reth execution client that runs the EVM. Ethereum has used the same split since the Merge, so each half can be tested and upgraded on its own.
New consensus code
Consensus client (Rust)Proof-of-work headers, difficulty, fork choice by most work, merged-mining proofs and checkpoints.
Engine API
From reth
Execution client (reth)EVM, state, transaction pool and JSON-RPC.
Valletta node architecture: two clients joined by the Engine API. The indexer runs outside consensus.
Only the highlighted client is new consensus code. The EVM, state and RPC come from reth, and the indexer runs outside consensus.
3.1 Components
Component
Role
Consensus client (Rust)
Builds and checks proof-of-work headers, adjusts difficulty, chooses the chain with the most accumulated work, verifies merged-mining proofs and checkpoints, and drives reth through the Engine API.
Execution client (reth)
Runs the EVM, keeps state, holds the transaction pool and serves JSON-RPC. Valletta adds VLTA issuance, the subsidy and base-fee splits, the genesis vesting contracts and its own chain ID.
Peer-to-peer network
Full nodes share blocks and transactions directly, with no dependency on company servers.
Indexer
A separate service behind the explorer and public APIs. It also computes Bastion provenance, outside consensus.
Fast layer
A rollup on top of the chain for fast, cheap transactions, with all its data recorded on Valletta (section 12).
3.2 How a block is made
Users send transactions to any node, and they wait in reth's transaction pool.
A mining node asks reth to assemble a block from the pool.
The consensus client commits to that block in a Valletta header and looks for RandomX work that meets the target, either its own or a Monero merged-mining proof.
The finished block goes out to peers.
Each node checks the header and its work, then hands the block to reth, which executes every transaction and checks the resulting state.
Every node moves its head to the valid chain with the most accumulated work.
3.3 Why reth
reth is a modular Ethereum client written in Rust under the MIT and Apache-2.0 licences, and its SDK already powers several production networks. Building on it gives Valletta a mature EVM, state storage and JSON-RPC without writing them again. The other options studied were the Polkadot SDK, the Cosmos SDK, core-geth and a node written from scratch; each fell short on its consensus model, its path to WASM contracts or its delivery risk.
4. Consensus
The valid Valletta chain is the one with the most accumulated RandomX work, and every node can check this from chain data alone. No company server is ever needed to judge a block.
4.1 RandomX
RandomX has been Monero's proof-of-work algorithm since November 2019. It runs randomly generated programs that suit general-purpose CPUs, which keeps mining open to ordinary computers and narrows the edge of specialised hardware. Before its launch it was audited by four independent firms: Trail of Bits, Kudelski Security, X41 D-Sec and Quarkslab.
4.2 Two ways to mine a block
Native mining. A miner finds RandomX work over the Valletta block header that meets the current target.
Merged mining. A Monero miner places the Valletta block hash in the coinbase of the Monero block it is mining. If that work also meets the Valletta target, it is a valid Valletta proof, so one effort can secure both networks.
Tari launched its mainnet with Monero merged mining, and Valletta follows the same approach. The exact proof format and the handling of RandomX keys are fixed in the protocol specification before Testnet.
4.3 Block time and difficulty
Target block time: 10 to 15 seconds, as short as measurements show to be safe. The final value is set after measuring propagation and the stale-block rate on a test network, with merged mining running.
Fast relay: nodes send each other only the transactions a peer is missing, so blocks spread quickly and few are lost at short block times.
Difficulty: recalculated at every block from a weighted average of recent block times, so the chain reacts quickly when merged-mining hashrate arrives or leaves.
Uncle rewards: a valid block that loses a race can be referenced by a later block, and its miner gets a share of that block's reward. The share comes out of the block subsidy, so total supply and the company's share do not change.
Timestamps: each block must be later than the median of recent blocks and not too far in the future, a standard defence against time-warp attacks.
4.4 Finality
Proof of work gives probabilistic finality: each new block makes it harder for an attacker with a minority of the hashrate to rewrite history. Valletta publishes a confirmation policy that tells wallets and exchanges how many blocks to wait, by transaction value. The node also labels blocks safe and finalized at fixed depths, which the fast layer and exchanges use. Shorter blocks speed up the first confirmation, but finality still depends on the work added after a transaction.
4.5 Defence against majority attacks
A new proof-of-work network is weakest at its start, when its hashrate is small and can be rented. Valletta adds four layers of defence for that period:
Defence
How it protects the chain
Merged mining with Monero
Existing Monero hashpower can secure Valletta at no extra cost to miners.
Signed checkpoints, early period only
Nodes reject any reorganization below the latest checkpoint. Checkpoints are public, signed by a 3-of-5 multisig, and stop at a set block height.
Confirmation policy
Exchanges, Valletta Exchange included, wait many blocks before crediting large deposits.
Monitoring
Hashrate, pool shares and deep reorganizations are tracked, with public alerts.
Checkpoints add a trusted element while the network is young. That is why they are temporary, published and limited to rejecting deep reorganizations.
5. Execution layer
Valletta runs the Ethereum Virtual Machine with Ethereum-style accounts and transactions, so contracts, wallets and tools built for Ethereum work on Valletta with little or no change.
5.1 Accounts and transactions
Accounts: 20-byte addresses, secp256k1 keys, one nonce per account and one shared state.
Transactions: Ethereum formats, with EIP-155 replay protection under Valletta's own chain ID, EIP-1559 dynamic fees and EIP-2930 access lists.
Gas: paid in VLTA only.
Interfaces: a documented subset of the Ethereum JSON-RPC, checked by a conformance suite, and standard precompiles only. Valletta does not claim full Ethereum compatibility beyond what that suite proves.
5.2 Fees
Every transaction pays a base fee set by the protocol, which rises and falls with demand as in EIP-1559, plus an optional priority tip. Valletta changes one thing: the base fee is shared, not burned.
Who receives each block's VLTA
Miner of the block
Liquidity fund
Company
Block subsidy (new VLTA)
93.5%
–
6.5%
Base fee
60%
20%
20%
Priority tip
100%
–
–
The split cannot be avoided. The base fee is mandatory, and paying a miner directly only replaces the tip. A minimum base fee is set from test-network data, and integer remainders go to the miner.
5.3 Why the base fee is shared
After 20 years no new VLTA is mined, and miners live on fees alone. Sharing the base fee keeps that income in place from the first block, while the liquidity fund deepens markets for VLTA and the company funds development in public view. Zcash and Decred also funded development from block rewards, through Zcash's Founders' Reward and Decred's treasury.
5.4 Smart contracts
EVM in version 1. Solidity and Vyper contracts, standard ERC-20, ERC-721 and ERC-1155 tokens, and a wrapped VLTA contract for DeFi. A token registry publishes verified metadata and flags impersonators.
WASM in version 1.1. Following the model of Arbitrum Stylus, WASM programs will live in the same state as EVM contracts, with the same addresses and ABI. Calls between the two run synchronously and atomically under one gas meter, so developers can write contracts in Rust and other languages.
Ready from day one. Version 1 reserves the code marker and the executor hook, so WASM arrives without changes to state, addresses or deployed contracts.
Tools. MetaMask, ethers, viem, Hardhat and Foundry, plus Valletta SDKs in TypeScript and Rust.
6. VLTA and monetary policy
VLTA has a hard cap of 100,000,000. Half is created at genesis under published allocations, with founder and company shares in on-chain vesting. The other half is mined over 240 months on a smooth curve.
6.1 Units
Unit
Value
Base unit
10^-18 VLTA, the smallest integer unit
Bastion
10^-6 VLTA = 10^12 base units, a display unit
VLTA
10^18 base units = 1,000,000 Bastion
Maximum supply
100,000,000 VLTA = 10^26 base units
Eighteen decimals keep MetaMask, ethers, Solidity and existing DeFi code working without changes. Wallets and the explorer can show amounts in VLTA or in Bastion, named after the bastions of Valletta's walls. Every unit also has a serial number (section 10.3).
6.2 Emission
New VLTA is created only as block subsidies, and each subsidy depends only on the block's height. Monthly emission falls smoothly, halving every four years, instead of dropping in sudden steps:
Computed from the emission formula, 20 years, blocks on target. Years 1 to 4 in aqua.
Emission halves every four years. After month 240 it stops, and miners earn fees only.
At launch: about 739,964 VLTA in the first month, or about 4.28 VLTA per block with 15-second blocks (2.85 with 10-second blocks).
At the end: about 23,460 VLTA in month 240, then zero.
Total supply: about 58.2 million after one year, 75.8 million after four and 100 million after twenty.
An emission month is a fixed number of blocks, so the calendar years above assume blocks arrive on target. Per-block rounding is defined so that the 240 months add up to exactly 50,000,000 VLTA.
6.3 Genesis allocation and vesting
Allocation
VLTA
Share of maximum supply
Control and release
Liquidity fund
22,500,000
22.5%
Its own 3-of-5 multisig, a published usage policy and a monthly release cap
Founders and developers
10,000,000
10%
Vesting contract: 12-month cliff, then monthly over 36 months
Company
7,500,000
7.5%
Vesting contract: monthly over 48 months
Early sale
7,500,000
7.5%
Under the sale agreements, set with legal counsel
Research and development
2,500,000
2.5%
3-of-5 multisig with a published budget
Genesis total
50,000,000
50%
Mined over 20 years
50,000,000
50%
93.5% (46,750,000 VLTA) to miners, 6.5% (3,250,000 VLTA) to the company
The vesting contracts are deployed in the genesis block, have no admin keys and cannot be changed by anyone, the company included. Every schedule is visible in the explorer.
6.4 Supply guarantees
No contract, RPC call or API can create VLTA. A recovery order reissues exactly the amount it burns, in the same step, so total supply never changes.
Mining emission, the company share included, can never exceed 50,000,000 VLTA.
All accounting uses integer base units, and fee splits and remainders are deterministic.
Property tests check these rules across chain reorganizations and upgrades.
7. Mining
Anyone can mine Valletta with any software that produces valid RandomX work. There is no device to buy, no licence, no registration and no tier.
7.1 Rewards
The miner of each accepted block receives 93.5% of its subsidy, 60% of its base fees and all of its tips. Over time every miner earns in proportion to its share of the total hashrate. The protocol keeps no pool accounts and gives no one a preferred position.
7.2 Ways to take part
Solo: run a full node and mine directly.
Pools: combine hashrate with other miners for steadier income.
Merged with Monero: pools that support Valletta can mine both networks with the same work. Valletta publishes the merged-mining specification and a reference integration for Monero pools and P2Pool.
7.3 Official products, always optional
Valletta will offer official mining software with a dev fee of 1–2% of mining time, an official pool with a fee of 1–3% that supports merged mining, and a premium subscription for fleet management, monitoring and support. These products sit outside consensus. Free open-source miners will exist, and the protocol never favours the official ones.
7.4 A healthy network
No dominant pool. Pool shares are published, with a public warning when any pool approaches 40% of the hashrate.
No botnets. CPU mining attracts botnets, so Valletta monitors for them and never promotes mining on machines the miner does not own.
8. USVT, the Valletta Dollar
USVT is a dollar stablecoin on Valletta that starts on Testnet only. It reaches Mainnet only when reserves, an issuer, a custodian, independent attestation and the required licences are in place.
8.1 Design
Contract: a standard ERC-20 token with 6 decimals, so every wallet and exchange that handles ERC-20 can support it.
Separate roles: proposer, approver, burner and redeemer, pauser, and a role admin held by a 3-of-5 multisig behind a 7-day timelock.
Freeze and pause: standard stablecoin controls held by the pauser role. Every freeze is published.
Production goal: each USVT backed 1:1 by US dollar reserves and redeemable for dollars, under the terms of a licensed issuer.
8.2 Two signatures for every mint
No single key can create USVT. Every mint needs the management wallet as proposer and an independent approver, and both sign EIP-712 typed data that binds the chain, contract, amount, recipient, nonce, expiry and reserve reference.
Proposer signsThe management wallet signs EIP-712 data that binds the chain, contract, amount, recipient, nonce, expiry and reserve reference.
Approver signsAn independent approver signs the same data.
Contract checksBoth signatures are checked on chain. Replayed or expired approvals are rejected.
USVT is mintedThe mint appears in the explorer with its full history.
USVT mint flow: two signatures, one on-chain check.
On Testnet no real dollars move and every token is labelled TEST, but the same two-signature check applies.
The contract checks both signatures on chain and rejects any replayed or expired approval. No upgrade, admin or emergency path can skip the external approver. On Testnet the approver is a person outside the company using a hardware wallet; in production it is a reserve-verifying institution.
8.3 Testnet first
The Testnet token is named Valletta Dollar (TEST) and is labelled TEST, NOT BACKED BY REAL USD and NOT REDEEMABLE in its metadata, the wallet and the explorer.
Testnet and production use separate chain IDs, contract addresses, keys, interfaces and endpoints, so the two can never be confused.
8.4 Path to production
Production issuance waits for five things, settled with legal counsel: reserve arrangements, the issuer and custodian, independent attestation, redemption terms and licensing. Wallets and the explorer will show the issuer, network, contract address, mint and burn history, supply and a risk disclosure, and will never imply a guaranteed value from the name alone.
9. Wallet and self-custody
The official Valletta wallet is non-custodial: keys stay on the user's phone or hardware signer and never touch Valletta servers. Your money. Your keys. Your sovereignty.
9.1 Platforms and networks
Version 1: iOS and Android from one codebase.
Version 1.1: a browser extension. Until then, MetaMask serves desktop users and dApps.
Networks: Valletta, Bitcoin, Ethereum, Solana and TRON, all from one recovery phrase.
The fast layer, from its launch, with one-tap trading and a risk score for every token.
9.2 Keys
One BIP-39 recovery phrase derives every account through the standard path of each network, so the phrase can be restored in other standard wallets.
Network
Derivation path
Standard
Valletta and Ethereum
m/44'/60'/0'/0/i
BIP-44
Bitcoin
m/84'/0'/0'
BIP-84, native SegWit
Solana
m/44'/501'/i'/0'
SLIP-0010, ed25519
TRON
m/44'/195'/0'/0/i
BIP-44
Because Valletta uses Ethereum transaction formats with its own chain ID, Ledger and Trezor devices can sign through their Ethereum apps, and the wallet will support them.
9.3 Protection
Keys in the phone's secure storage, behind a biometric lock.
A clear preview of every transaction before signing, with phishing warnings and filtering of malicious tokens.
Fees shown in VLTA or Bastion, the USVT TEST badge, and a status for every transaction: pending, confirmed or reorganized.
Automatic failover between RPC endpoints.
10. Governance and upgrades
Valletta's rules change only when node operators choose to run a new release. The company cannot change consensus rules on its own, the supply cap included.
10.1 Protocol upgrades
Every rule change ships as a node release with a published activation height and release notes, announced in advance.
Releases are signed by the release multisig and built reproducibly, so anyone can check that a binary matches its source code.
Node operators decide whether to upgrade. A change takes effect only where the network adopts it.
10.2 Privileged roles
Every privileged power sits with a separate multisig: 3 of 5 signers, at least 2 of them outside the company, all on hardware wallets, with a 7-day timelock on every on-chain action except pause and freeze.
Role
What it controls
Release signing
Official node releases
System contracts admin
USVT roles and other system contracts
Company treasury
The 6.5% subsidy share, the 20% base-fee share, the company allocation and revenue from the fast layer, the Launchpad and Harbour
Liquidity fund
The 22.5 million VLTA allocation and 20% of base fees, under a published policy and monthly cap
Research and development
The 2.5 million VLTA allocation, under a published budget
USVT pauser
Emergency pause and freeze of USVT only
Checkpoints
Early-period checkpoints, until their end height
Recovery
Freezes of stolen VLTA and recovery orders that return it to its owner
Fast layer and Launchpad
Upgrades and parameters of the bridge, the fast layer and the Launchpad and Harbour contracts, behind the 7-day timelock
Emergency powers cover pause and freeze, never rule changes, and each use is explained in public within 24 hours. Balances change only through recovery orders, after the 7-day timelock. A root-of-trust register publishes every role's public keys, custodians, quorum, hardware, rotation plan and compromise response.
10.3 Serial numbers and theft recovery
Every unit of VLTA has a serial number, so stolen coins can be found, frozen and returned to their owner through a public process with strict limits.
Serial numbers. Every base unit is numbered in the order it is created: genesis allocations first, then each block's subsidy. VLTA and Bastion serial numbers follow from it, giving exactly 100,000,000 VLTA numbers and 100,000,000,000,000 Bastion numbers. An indexer outside consensus tracks each number from address to address, and anyone can rerun it and get identical results.
Recovery. A victim reports the theft within 30 days. The recovery role freezes the stolen amount where it sits, and after public review and a 7-day timelock, one recovery order burns the frozen units and mints the same amount to the victim's new address.
Within 30 days
Report
The victim files a claim with evidence.
At once
Freeze
The stolen amount is frozen where it sits and explained in public within 24 hours.
In public
Review
A public review, with a right of appeal.
7 days
Wait
The recovery order waits behind a 7-day timelock.
One order
Return
The frozen units are burned and the same amount is minted to the victim's new address.
Recovery never takes coins from people who received them in good faith, such as exchanges, merchants and liquidity pools, and total supply never changes. The recovery role is a 3-of-5 multisig with at least 2 signers outside the company, and recovery works from the day Mainnet launches. It also covers VLTA held on the fast layer.
11. Security and assurance
Valletta is built and tested against a written threat model. Outside security firms review it twice before Mainnet, and a public bug bounty follows.
11.1 Threat model
Area
Threats tested
Consensus
51% attacks with rented hashrate, selfish mining, eclipse and time-warp attacks, difficulty manipulation, long reorganizations, forged merged-mining proofs, RandomX key manipulation, checkpoint key compromise
Timelock bypass, signer compromise, a malicious release
Indexer and APIs
Inconsistency after reorganizations, nondeterministic provenance, data exposure, RPC abuse
Mining products
Pool centralization, a malicious software update, botnets
Recovery
Compromise of the recovery keys, false claims, freezing the wrong holder, evasion through contracts, legal pressure
Fast layer
Sequencer failure or censorship, invalid state roots, bridge exploits, main-chain reorganizations, withdrawal delays
Launchpad and Harbour
Rug pulls, sniping bots, impersonating tokens, price-curve and pool errors, price manipulation
11.2 Independent review
After the proof of concept: an external security firm reviews the architecture.
Before Mainnet: a full security audit of the node, the contracts and the wallet.
Before Mainnet: a public bug bounty program.
Before the fast layer launches: separate audits of the bridge, the fast layer and the Launchpad and Harbour contracts.
The node, SDK, contracts, explorer and wallet are open source at launch, so anyone can review them. The official mining software and pool are commercial products and stay closed.
11.3 Evidence required before Mainnet
Every block replays deterministically from genesis.
Property tests prove that emission totals exactly 50,000,000 VLTA, the company share is exactly 6.5% and every fee split is exact.
Multi-node tests cover forks, reorganizations, merged-mining proofs and checkpoints.
The EVM passes a conformance suite for its declared subset.
Every USVT mint without a valid external approval is rejected.
A frozen amount cannot leave its address by any transaction type, and every recovery order burns and reissues exactly the same amount.
The fast layer follows main-chain reorganizations, reconciles every deposit and withdrawal with the bridge, and lets users exit while its operator is offline.
The wallet passes backup, signing, sending and restore tests on all five networks.
Two independent provenance runs give identical results.
Fuzzing, chaos and load tests run on the whole system.
12. The fast layer and the Launchpad
Valletta keeps its main chain built for security and adds speed one layer up. A rollup on top of the chain, the fast layer, targets confirmations in about 0.2 seconds and fees of a fraction of a cent, and records all its data on Valletta. It launches together with Mainnet, with a Launchpad for new tokens and meme coins and the first Harbour pools.
Apps and productsWallet · Launchpad · Harbour · Pay · EscrowOne ecosystem under one brand.
run on
Fast layer0.2 s confirmations · 2 s blocksAn OP Stack rollup for trading and apps, with fees in VLTA.
Every batch is recorded on the main chainUsers can always exit through the bridge
Valletta main chainRandomX · merged mining · 10 to 15 s blocksEVM contracts and final settlement of every VLTA.
Aspect
Main chain
Fast layer
Purpose
Store and settle value
Fast trading and apps
Blocks
About every 10 to 15 seconds (target)
About every 2 seconds, with preconfirmations in about 0.2 seconds
Fees
Base fee and tip, in VLTA
A fraction of a cent, in VLTA (target)
Final
After enough proof-of-work blocks
When its batch is final on the main chain
Security
Proof of work
The main chain, through the bridge and proofs
12.1 How it works
Same tools. The fast layer runs the EVM, so the same wallets, contracts and developer tools work there. Gas is paid in VLTA.
Instant, then final. The fast layer's operator, the sequencer, confirms transactions about every 200 milliseconds. A transaction becomes irreversible when its batch is final on the main chain, a few minutes later.
Everything on Valletta. Every batch of transactions is posted to the main chain, so anyone can rebuild the fast layer from main-chain data alone.
Always a way out. Results posted to the main chain can be challenged or proven. Users can force a transaction or a withdrawal through the main chain, even if the sequencer stops.
Proven software. The fast layer reuses the OP Stack, open source under the MIT licence. Base runs on it on top of Ethereum, and opBNB on top of BNB Chain.
12.2 What the main chain adds
Version 1 already includes what the fast layer needs: room in each block for fast-layer data, priced apart from normal gas; labels that mark blocks safe and finalized at fixed depths; and the bridge contracts that hold fast-layer funds. Fast-layer data pays base fees on the main chain like any other transaction, split 60/20/20.
12.3 Launchpad and Harbour
Create in seconds. Anyone can create a token from a standard template, with a fixed supply and verified metadata.
Price curve, then Harbour. A new token trades on a price curve, also called a bonding curve. When it reaches a set threshold, it moves to a Harbour pool.
Safety by default. Liquidity moved to Harbour is locked permanently, and no new tokens can be minted after launch. Launches are protected against sniping bots, and every token shows a risk score in the wallet and the explorer.
Rewards for creators. Creators receive a share of the trading fees in their token.
12.4 Security
The main chain's rules, supply and recovery do not change. Funds on the fast layer are held by the bridge contract on the main chain, and recovery also covers VLTA held on the fast layer.
A deep reorganization of the main chain can undo fast-layer blocks that are not yet final, so exchanges wait for main-chain finality before crediting deposits. Withdrawals to the main chain can take several days, depending on the proof system, unless a liquidity provider pays out sooner. The bridge, the fast layer and the Launchpad and Harbour contracts are audited separately before launch.
13. Ecosystem
Products arrive in three steps. Mainnet brings the chain, the wallet, the explorer, developer tools, the fast layer, the Launchpad and Harbour. Phase 2 adds payments, recurring payments, Escrow, AI risk signals and the browser wallet. Phase 3 brings the products that need a licence: Valletta Exchange, Protect and USVT in production.
Product
What it does
When
Explorer
Blocks, transactions, addresses, tokens and contracts, plus supply, emission, the company share, vesting schedules, the merged-mining share and USVT mints and burns
Version 1
SDKs
TypeScript (works with ethers and viem) and Rust: transaction building, signing, fees, contract deployment and token issuance
Version 1
Valletta wallet
Non-custodial multi-chain wallet for iOS and Android, and the entry point to Pay, Recurring, Escrow and Protect
Version 1
Fast layer
Confirmations in about 0.2 seconds and fees of a fraction of a cent, on top of the main chain (section 12)
With Mainnet
Launchpad
Token and meme-coin launches on the fast layer, with a price curve, safety defaults and verified metadata
With Mainnet
Harbour
A decentralized exchange named after Valletta's Grand Harbour. Its first pools run on the fast layer and receive tokens from the Launchpad
With Mainnet, on the fast layer
WASM contracts
Contracts in Rust and other languages, in the same state as the EVM
Version 1.1, in phase 2
Browser-extension wallet
The Valletta wallet on desktop
Version 1.1, in phase 2
Valletta Exchange
A centralized exchange, separate from Harbour, with a spot order book, segregated custody, market surveillance and compliance
Phase 3, after licensing
Valletta Pay
Payments for businesses: checkout, payment links, QR codes, invoices, refunds and an API, with USVT once it is live
Phase 2, after Mainnet
Recurring and Escrow
Recurring: subscriptions whose next payment is locked in advance and can be cancelled before it is due. Escrow: deals between parties who do not trust each other, with deposit, release conditions, disputes and an API
Phase 2, after Mainnet
Protect
Cover for supported assets in the official wallet through a licensed insurer, separate from theft recovery
Phase 3, with a licensed insurer
AI risk signals
Risk scores for tokens and contracts in the Launchpad, Harbour and the wallet: rule-based checks plus AI signals, each with its reason and a way to appeal. A warning, never a promise
Basic checks with Mainnet, AI signals in phase 2
Developer platform
One SDK and API for the wallet, Pay, Escrow, the Launchpad, Harbour and risk data, with a sandbox and signed webhooks
Phase 2, growing with each product
The liquidity fund exists to deepen markets for VLTA and for tokens that move from the Launchpad to Harbour. It spends only under a published policy, with a monthly release cap set before Testnet.
14. Roadmap
Valletta moves through gated phases, and each gate opens on evidence rather than on a date. A phase ends only when its exit criteria are met and published.
Next
Proof of concept
Four or more nodes mining with RandomX
reth through the Engine API
Exact emission and fee splits
Merged-mining tests
A fast-layer development network
Gate: outside architecture review
Then
Testnet
A public network
USVT (TEST)
Wallet and explorer
Fast-layer Testnet
Full security audit
Public bug bounty
Gate: audit findings fixed
Launch
Mainnet
Open mining
Fast layer
Launchpad and Harbour
Mobile wallet
Explorer and SDKs
Gate: each product's own audit
After Mainnet
Phase 2
Pay and Recurring
Escrow
AI risk signals
Developer platform
WASM and browser wallet
Gate: a licence for each product
After licensing
Phase 3
Valletta Exchange
Protect
USVT in production
Licensed products
The fast layer, the Launchpad and Harbour launch together with Mainnet, and nothing launches before its own audit is complete.
USVT in production, Valletta Exchange and Protect each pass one more gate of their own: the required licence, verified reserves for USVT and a licensed insurer for Protect.
15. Risk factors
Valletta is an early-stage project. Anyone who holds VLTA, mines it or builds on it should weigh these risks.
Risk
What could happen
Technical
New consensus code and changes to reth may contain bugs that tests and audits miss. Fixes from upstream reth must be tracked and applied.
A young network
While hashrate is small, a majority attack is cheaper. Merged mining helps only as far as Monero pools adopt it, and early checkpoints add temporary trust.
Mining concentration
A few pools or botnets could control a large share of the hashrate.
Supply and price
Half the supply exists at genesis. Mining adds about 16% to the supply in the first year, falling every year after. VLTA may lose some or all of its value.
Long-term security
After 20 years miners earn fees only, so the network will need enough real activity to pay for its security.
Stablecoin
USVT production depends on licences, banking partners and reserves, and a stablecoin can lose its peg.
Regulation
Rules on crypto-assets, stablecoins and exchanges differ by country and keep changing. Products may be delayed, restricted or unavailable in some places.
Delivery
Valletta depends on a small core team and outside partners. Delays or the loss of key people could slow the roadmap.
Recovery
The recovery role can freeze addresses it links to a theft. A wrong decision could freeze an innocent holder until an appeal succeeds, the recovery keys are a high-value target, and courts or governments may demand freezes.
Fast layer and meme coins
At launch the fast layer depends on one operator, and its bridge holds all of its funds. Withdrawals to the main chain can take several days. Meme coins are highly speculative and can lose all their value quickly, and launchpads attract scams and regulators.
16. Conclusion
Valletta brings together three things that rarely meet: open proof-of-work security, the Ethereum developer ecosystem and a monetary policy published down to the last unit. Every allocation, vesting schedule and fee share is visible on chain, and no one can change the rules without the network's consent.
The defenders of 1565 did not patch the old walls; they built a new city designed never to fall. Valletta takes the same approach to money: build carefully, prove each step, and open the gates to everyone.
One world on chain. The new era of money.
Appendix A: Protocol parameters
Parameter
Value
Status
Consensus
Proof of work, RandomX
Fixed
Merged mining
With Monero
Fixed; proof format set before Testnet
Target block time
10–15 seconds, as short as measured safe
Confirmed by measurement before Testnet
Difficulty adjustment
Every block, weighted moving average
Algorithm confirmed in the proof of concept
Uncle rewards
Yes, paid out of the block subsidy
Share set in ADR-003
Execution
EVM on reth
Fixed
Accounts
Ethereum-style, 20-byte addresses, secp256k1
Fixed
Decimals
18
Fixed
Display unit
Bastion = 10^-6 VLTA
Fixed
Maximum supply
100,000,000 VLTA
Fixed
Genesis supply
50,000,000 VLTA
Fixed
Mining emission
50,000,000 VLTA over 240 months
Fixed
Emission curve
Smooth monthly decay, 48-month half-life
Fixed; blocks per month set before Testnet
Block subsidy split
93.5% miner, 6.5% company
Fixed
Base fee split
60% miner, 20% liquidity fund, 20% company
Fixed
Priority tip
100% miner
Fixed
Minimum base fee
Set from test-network data
Before Mainnet
Chain ID
Set in the genesis file
Before Testnet
USVT decimals
6
Fixed
Privileged roles
3-of-5 multisig, at least 2 outside signers, 7-day timelock
Fixed
Serial numbers
Every base unit numbered in creation order; VLTA and Bastion numbers derived
Fixed
Theft recovery
Claims within 30 days, immediate freeze, burn and reissue after a 7-day timelock, good-faith holders excluded
Active from Mainnet
Fast layer
Rollup on the main chain (OP Stack), gas in VLTA
Approved; launches with Mainnet
Fast-layer speed
Preconfirmation about 200 ms, block about 2 seconds
Target; confirmed on the fast-layer Testnet
Appendix B: Emission formulas
The first month's emission follows from the sum of a geometric series over 240 months:
The part of every transaction fee set by the protocol. On Valletta it is split 60/20/20, not burned.
Bastion
Display unit of VLTA: one millionth of a coin.
Bonding curve
A price formula in a contract: a new token's price rises as people buy it and falls as they sell.
Checkpoint
A signed block hash below which nodes refuse to reorganize. Used only in the early period.
Engine API
The interface through which the consensus client drives the execution client.
EVM
Ethereum Virtual Machine, which runs smart contracts.
Fast layer
Valletta's rollup on top of the main chain, for fast and cheap transactions.
Hashrate
The total RandomX work that miners contribute per second.
Merged mining
Using one proof of work to secure two chains at once, here Monero and Valletta.
Multisig
An account that needs several independent signatures, such as 3 of 5, to act.
Preconfirmation
The sequencer's commitment that a transaction is included, given in about 0.2 seconds, before it is final on the main chain.
Priority tip
An optional extra fee that goes entirely to the miner.
RandomX
The CPU-oriented proof-of-work algorithm of Monero, also used by Valletta.
Recovery order
A public on-chain order that burns frozen stolen VLTA and mints the same amount to the victim.
Reorganization
A switch to a competing chain that has more accumulated work.
reth
An Ethereum execution client written in Rust, the base of Valletta's execution layer.
Rollup
A chain that runs transactions on its own and posts their data and results to a main chain, which secures it.
Sequencer
The operator that orders fast-layer transactions and gives preconfirmations.
Serial number
The number of a unit of VLTA or Bastion, assigned in the order the unit was created.
Timelock
A mandatory delay between approving a privileged action and carrying it out.
Uncle block
A valid block that lost a race to another block. A later block can reference it, so its miner still earns a share.
Vesting
The gradual release of an allocation under a schedule enforced by a contract.
Legal notice
This whitepaper describes a technology in development and is provided for information only.
No offer. It is not an offer to sell, or a solicitation to buy, securities, VLTA or any other asset. Any sale will be made only under separate terms and applicable law.
No advice. Nothing here is investment, financial, legal or tax advice. Readers should consult their own advisers.
No promise of value. VLTA and USVT carry no promise of returns, and VLTA may lose all of its value.
Forward-looking statements. Plans, parameters and timelines described here may change, and actual results may differ.
Regulation. Some products may be restricted or unavailable in some jurisdictions. USVT will be issued in production only under the required licences. Where the law requires a regulatory white paper, for example under the EU Markets in Crypto-Assets Regulation (MiCA), it will be prepared separately with legal counsel.
Recovery. VLTA identified as stolen may be frozen and, after review, burned and reissued to its owner under the published recovery policy. Holders who received VLTA in good faith are excluded.
Third-party tokens. Tokens created on the Launchpad are issued by third parties, not by Valletta. Valletta does not endorse them, and they may lose all their value.
Legal · updated 3 November 2026
Legal, risks and disclaimers
Valletta is a technology in development. Nothing is for sale, nothing on this site is advice, and anyone who later holds, mines or builds on VLTA can lose everything they put in. The details are below.
No offer, no advice
No offer
Nothing on this site is an offer to sell, or a solicitation of an offer to buy, VLTA, USVT, securities or any other asset. There is no token sale, presale or distribution today. Any sale would be made only under separate terms, after legal approval, where the law allows it.
No advice
Nothing here is investment, financial, legal, accounting or tax advice. Talk to your own advisers before making any decision about crypto-assets.
No promise of value
VLTA and USVT carry no promise of price, returns, yield or profit. VLTA may lose some or all of its value.
No endorsement of third-party tokens
Tokens created on the Launchpad are issued by third parties, not by Valletta. Valletta does not endorse them, and they can lose all their value quickly.
Not available everywhere
Some products may be restricted or unavailable in some countries. USVT will be issued in production only under the required licences.
Risks
Valletta is an early-stage project. Anyone who later holds VLTA, mines it or builds on it should weigh these risks. Never put in money you cannot afford to lose. Whitepaper §15
Risk
What could happen
Total loss
VLTA may lose some or all of its value. Crypto-asset prices can move sharply and without warning.
The project may not launch
The network, VLTA and USVT do not exist yet. Plans may be delayed, changed or abandoned, and Mainnet opens only if every gate before it is met.
Technical
New consensus code and changes to reth may contain bugs that tests and audits miss.
A young network
While hashrate is small, a majority attack is cheaper. Merged mining helps only as far as Monero pools adopt it, and early checkpoints add temporary trust.
Mining concentration
A few pools or botnets could control a large share of the hashrate.
Supply
Half the supply exists at genesis. Mining adds about 16% to the supply in the first year, falling every year after.
Long-term security
After 20 years miners earn fees only, so the network will need enough real activity to pay for its security.
Theft recovery has limits
Recovery covers theft, fraud and hacks, not a lost recovery phrase. Coins that reached holders in good faith are not taken back, so a victim may recover only part of what was stolen. A wrong decision could freeze an innocent holder until an appeal succeeds, the recovery keys are a high-value target, and courts or governments may demand freezes.
Self-custody
You hold your own keys. If you lose your recovery phrase, no one, Valletta included, can restore your wallet.
Stablecoin
USVT production depends on licences, banking partners and reserves, and a stablecoin can lose its peg.
Fast layer
At launch the fast layer depends on one operator, and its bridge holds all of its funds. Withdrawals to the main chain can take several days.
Meme coins
Meme coins are highly speculative and can lose all their value quickly, and launchpads attract scams and regulators.
Regulation
Rules on crypto-assets, stablecoins and exchanges differ by country and keep changing. Products may be delayed, restricted or unavailable in some places.
Delivery
Valletta depends on a small core team and outside partners. Delays or the loss of key people could slow the roadmap.
Scams
Fake accounts, fake tokens and fake sales use the names of real projects. Transactions on a blockchain usually cannot be reversed.
Plans and design targets
This site describes plans. Statements about what Valletta will do, when, and how it will perform are forward-looking. They may change, and actual results may differ.
Figures such as block times, confirmation times and fees are design targets for a network in development. They are confirmed by measurement before Mainnet and may change. Amounts, addresses and days in illustrations and films are examples.
The whitepaper is the reference for the design. Where this site and the whitepaper differ, the whitepaper applies. Whitepaper, legal notice
Official channels and scams
These are the only official Valletta accounts. Anything else using the Valletta name is not from Valletta.
Valletta will never ask for your recovery phrase or private keys.
Valletta will never ask you to send crypto to an address in a message.
The team never sends the first private message.
Until the Early supporters page says a round is open, any offer to sell VLTA is not from Valletta.
Use of this site
Information only
This site is provided for information, as it is and as available. Arkenvale Software works to keep it accurate but does not guarantee that it is complete, current or free of errors.
Liability
To the extent the law allows, Arkenvale Software is not liable for any loss that comes from using this site or relying on it.
Other sites
Links to Discord, Telegram, X and other services lead to sites Valletta does not control. Their own terms and privacy policies apply there.
Names and marks
Valletta, VLTA, USVT, the Valletta mark, the coins and the films belong to Arkenvale Software. You may link to this site and quote it with credit. Do not use the marks in a way that suggests Valletta endorses you.
Changes
This page may change as the project develops. The date at the top shows the latest version.
Privacy
This site sets no cookies of its own and has no accounts, forms, analytics or advertising.
Hosting
The site is served by Cloudflare. Like any web host, Cloudflare receives your IP address and browser details when you load a page, to deliver it and protect it from attacks, and may set a security cookie when it needs to tell people from automated traffic.
Fonts
The typefaces load from Google Fonts, so Google receives your IP address when your browser fetches them.
Your browser
If you change the accessibility settings, they are saved in your own browser so they stay the same on your next visit. They never leave your device. Reset clears them.
Films
Films load from this site only when you press play.
This site aims to meet the Web Content Accessibility Guidelines (WCAG) 2.2 at level AA.
What is in place
Every page works with a keyboard alone, with a visible focus ring and a skip link. Text has a contrast of at least 4.5:1, and buttons and links are at least 44 pixels tall. The site respects the reduced-motion setting of your device, works from 360 to 1920 pixels wide without sideways scrolling, and keeps working when text is enlarged to 200%. Diagrams and charts have text descriptions.
The accessibility menu
The button in the bottom-left corner of every page opens a menu to enlarge text, raise contrast, highlight links, add space between letters and lines, switch to a plain font and stop all motion. Your choices stay saved in your browser.
Known limits
The films have no sound and no transcript yet; the same steps are described in text beside each film. Formulas in the whitepaper are written as text.
How it was checked
With automated contrast, target-size and layout checks at four screen widths, and by hand with a keyboard. This statement was last reviewed on 3 November 2026.
Report a problem
If something on this site is hard to use, write to [email protected] and say which page and what you were trying to do. You can also tell us in the official Discord, on Telegram or on X.