Warming up the news of the upcoming launch of its network with two tokens, VeChain (VEN) published a “Development Plan and Whitepape” with an updated management structure, economic model and new use cases.
Unveiling our "Development Plan and Whitepaper" with an updated governance structure, economic model, and new use cases. This piece will gradually be updated throughout its existence to reflect the goals and growth of the VeChainThor Blockchain.https://t.co/6tjZOaWIrK
— VeChain Foundation (@vechainofficial) May 20, 2018
At the moment, the market price of VEN fluctuates around $4.45, almost unchanged from last week, and even today has a not significant increase of 0.2%. Nevertheless, the VEChain still demonstrates volatility and loss of volumes for several days. For several weeks VEN was more subdued than usual, from 4 to 5 dollars. Even despite the active launch on Binance, most VeChain traders are focused on exchanging LBank now.
Previously, price peaks saw VEN as one of the most active assets on Binance, but now the trade profile for this token has changed significantly.
Like the TRON, VeChain expects the startup of MainNet, but a little later this summer. Before that time, there was little information on how tokens would migrate. However, one thing is that new assets will be divided into more coins to simplify accounting and avoid counter intuitive shares of coins.
When running MainNet, each VEN token will be rewarded with 100 units. This step will also facilitate the allocation of VeChainThor remuneration tokens.
Due to the rate of adoption, we recognize that VET would primarily be calculated using fractionals in smart payments. With the mainnet launch’s token swap, we will conduct a 1:100 coin split to alleviate this concern. At that time, every 1 VET owned will be exchanged for 100.
— VeChain Foundation (@vechainofficial) May 18, 2018
But even before the launch, VeChain saw that the first ICO intends to raise funds and exist on this exact blockchain. Plair ICO is a system created to reward players for their achievements, presence and connections.
As an additional stimulus to the growth of the cryptocurrency, the largest Indian exchange ZebPay added VEN to its list.
However, it’s not known whether the exchanges will help with the new distribution of tokens or if they will distribute VeChainThor’s fees, as some exchanges distribute Gas for NEO holders.