VeChain Burn Vote Coming Up

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avatar of @cryptoandcoffee
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2 months ago - 2 minutes read


The one thing you need to do is to stay up to date on your investments so there are no surprises. The last time I checked in on VET/ VeChain was about 3 weeks ago and not much has changed. There is always hope though and looking at the VTHO (gas) burn rate tells you all you need to know. Not much change here as this is where the signs will be spotted first letting you know the use case growth is happening.

Vechain on social media is all full of good news with meetings with new partnerships and more use cases, but with no tangible evidence of this being implemented this is all talk for now and has to be seen as early days. Out of all my crypto investments this is the gamble crypto project as they should hit it big with who they have partnered up with.

Just one use case being mass adopted is all it takes and they have dozens in the pipeline. food traceability being lead by the Chinese Government along with Walmart, Carbon Emissions with the EU and Amazon Web Services, Shipping with Samsung plotting their routes and positions, car batteries lifespan monitoring from manufacturer to disposal, BMW odometer readings for used cars and now healthcare plus pharmaceutical tracking (CBD oils). Seriously they have some big projects besides what they originally set out to do and that was to be a logistics blockchain for the transport/retail/courier industry which has morphed into so much more.

What is important with the VeChain is the VTHO daily supply currently around 33 million. 2 years ago they reduced the price of VTHO by 100 x making it cheaper for developers to build. The problem is the VTHO token is way too cheap and they are having a vote which could see the current price x 20 which is still 5 x cheaper than what t was originally. The 20 x is significant if we look at the current burn rates which average around 100K VTHO per day. This would bring the burn up to 2 million per day if 20 x was accepted meaning the VeChain needs to only do a 15 x and not a 300 x (currently) to achieve the daily burn.

As you can imagine this is actually a big deal for the VeChain moving forward and a 10x or 20 x increase in burn rate would make a big difference. I don't se them going back to the original 100 x due to keeping the costs down for developers which is the future of the chain. Whatever the result it should spark something with the VET price knowing the VTHO token is basically going to be 10 x or 20 x more valuable.

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