New developments in the VeChain platform are coming out fast and furious as Q1 2022 comes to a close. With the new stablecoin, the VET altcoin stands to grab larger marketshare in the IoT marketplace and become more desirable as a part of cryptocurrency portfolios.
Learn more about the latest updated VeChain price prediction 2025 here.
Read more from VeChain about the new VeUSD stablecoin below:
Announcing The VeUSD Stablecoin Launch, $50k USD Community Bonus Mint Event, $500k USD X-Node Airdrop & More!
At the start of the year, we announced VeChain’s first stablecoin, VeUSD, was in development. Today, we are excited to share that on Monday 14 March 2022, the public minting portal for VeUSD will go live and be fully accessible to everyone via prime.stably.io, ushering in a new era for the VeChainThor public blockchain.
The launch of VeUSD marks a special moment for us, helping kickstart new objectives for the year and enhancing our capabilities in the enterprise, sustainability, carbon and financial fields. As a versatile layer one public blockchain, we envisage many exciting use case scenarios to come based on client requests. Its addition also serves to boost the scope of functionality for our growing NFT and DeFi ecosystems.
Stably will shortly release a video tutorial to help guide you through the VeUSD minting and redemption process. We will share via our Twitter page once ready.
Please see the initial VeUSD release for more information: https://www.vechain.org/announcing-veusd-vechainthors-first-stablecoin-enabling-web3-defi-sustainability-objectives-and-more/
$50k USD Community Bonus Mint Event
To celebrate the launch of VeUSD, the VeChain Foundation is providing $50,000 USD in bonuses to community members who mint VeUSD between Monday 14 March to Sunday 20 March and meet the criteria detailed below:
- VeUSD Quick Draw: The first 100 wallets to mint and deposit $50+ to their VeChainThor address will receive a $25 bonus
- VeUSD Minter: The first 1000 wallets to mint $50+ VeUSD and send to their VeChainThor addresses will get a $10 bonus
- VeUSD Trailblazer: The first 500 wallets to mint $100+ and send to their VeChainThor addresses will receive a $20 bonus (does not stack with the VeUSD minter bonus)
- VeUSD Pioneer: The first 100 wallets to mint $500 and send to their VeChainThor addresses will receive a $125 bonus (does not stack with VeUSD minter, VeUSD trailblazer bonuses)
- VeUSD Whale: The first 25 wallets to mint $1000+ and send to their VeChainThor addresses will receive a $300 bonus (does not stack with the VeUSD Minter, VeUSD Trailblazer, VeUSD Pioneer bonus)
- VeUSD Megalodon: The 10 addresses with the highest volume of VeUSD minted will receive a $250 bonus
- Eco/X-Node: All X-Nodes & Economic nodes that participate in the event will split a pot of $5,000 VeUSD equally. The individual VeUSD bonus received depends on the total number of participating nodes
Prize total: $50,000
- The event will run between 14 March 00:00 UTC+0 to Sun 20 March, 11:59 UTC+0. A snapshot will be taken at the end of the event period to determine eligible addresses
- To be eligible for a bonus, mint VeUSD at Stably Prime and withdraw to your VeChainThor address, leaving tokens in place until the snapshot on 20 March 11:59pm UTC. Prizes will be sent once all data has been corroborated
- If the limit of eligible individuals for a certain bonus tier from ‘Community’ is reached, individuals will receive the next applicable bonus from the tier below. Once the limit for other categories has been met, no additional bonuses will be issued
- VeUSD Quick Draw, VeUSD Megalodon and Eco/X-Node can stack with other bonuses, however, users can only receive ONE of the bonuses from ‘Community’
Example: The 25th user to mint $1000 VeUSD, deposit to their VeChainThor wallet and hold until the snapshot will receive the ‘VeUSD Quick Draw’ bonus as well as the ‘VeUSD Whale’ bonus, totalling $325 in bonuses. They will NOT receive the VeUSD Minter, Trailblazer or Pioneer bonuses.
$500,000 VeUSD X-node Holder Airdrop
In addition to the community minting event, we wanted to take a moment to extend our gratitude to the most loyal and long term community members of the VeChainThor ecosystem, the X-nodes.
The X-nodes have remained a steadfast backbone of the VeChainThor ecosystem for many years now and we are eternally grateful. As we enter a phase of rapid growth for blockchain technology, VeChain’s position as a global leader in delivering real world products and services puts it at the centre of what’s to come.
With native protocols such as ‘fee delegation as a service (DaaS)’ that allow X-nodes to become ‘gas stations’ for on-chain projects and users, we believe X-nodes will find a special place in this new digital economy.
A snapshot of all X-nodes will be taken on 14 March, 00:00 UTC+0. There are NO requisite criteria to receiving the airdrop. Users will receive their VeUSD gift during the week commencing 14 March.
Airdrop values are detailed below:
- Mjolnir X-nodes: $630 — The date of mainnet launch
- Thunder X-nodes: $314 — The launch date of VeUSD
- Strength X-nodes: $180 — The VeChain token standard (VIP-180)
- VeThor X-nodes: $101 — The number of authority masternodes
We are always thinking of ways to provide greater inclusion for X-nodes and will continue to think of ways to provide benefits to this special community in the future.
Trading competitions on OceanEx, Vexchange and VeRocket with VeUSD prizes
To celebrate the launch of VeUSD, beginning week commencing 21 March, a series of trading competitions will take place.
First, VeChain’s native CEX, OceanEx, will host a 2 week event consisting of farming and trading events with VeUSD rewards for participants. Vexchange, VeChain’s first DEX will hold a 2 week event following OceanEx and VeRocket, the latest DEX to join the fray will follow after that.
More details on trading pairs and competition rules will be announced by each respective exchange in due course.
VeUSD Stablecoin Launch — The First Step of Many
Of course, the launch of the VeUSD stablecoin is just the first step on a long path. To ensure a prosperous journey ahead, the VeChain Foundation intends to support community developers with the tools and tech they need to help them thrive in the future.
We will soon announce the details of a Hackathon designed to help provide a robust developer environment in pursuit of this goal. We also have some additional exciting initiatives underway that we are excited to share. Details will be released in the coming weeks.
VeChainThor — Ready For Mass Adoption
With our real-world ready solutions such as ToolChain, battle-tested blockchain and chip technologies, close working relationships with certification and auditing giants, plus our establishment of compliance and regulatory standards both in China and Europe, VeChain is positioned as the preeminent blockchain network for the approaching wave of adoption in front of us.
The addition of a stablecoin to our capabilities opens up a whole new world of options for the network. We are very excited to witness this next era play — we hope you will join us for the journey.
Launched in 2015, the VeChain Foundation has worked tirelessly to build bridges between blockchain technology and the real world. VeChainThor’s evolution continues to gather pace, transitioning from consortium network to a best-in-class public blockchain platform. As the ecosystem enabler, the Foundation’s mission is to empower builders and innovators by developing tools that systematically eliminate adoption hurdles and lower entry barriers for businesses and developers alike.
VeChainThor has already been applied across a diverse array of use cases, aiding the daily operations of corporations and creating new value and efficiencies. Alongside key strategic partners PwC and DNV, VeChain has collaborated with world-leading enterprises including Walmart China, Bayer China, BMW Group, BYD Auto, PICC, Shanghai Gas, LVMH, D.I.G, ASI Group and more.
For more information, including developer tools/documents and foundation grants, please visit: www.vechain.org