Cryptocurrency Q&A
Does vet generate VTHO?
Does vet generate VTHO?
DondaejiDelightful
Thu Aug 01 2024
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5 answers
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Excuse me, could you clarify if VET, the native token of VeChain's blockchain platform, indeed generates VTHO? I'm interested in understanding the mechanics behind this process, as I've heard that VTHO serves as the gas for transactions and smart contract executions on the VeChainThor blockchain. Could you elaborate on how VET holders can benefit from this generation of VTHO, and whether there's a specific rate or mechanism involved in this process? I'm eager to learn more about how VeChain's economic model works in this regard.
5 answers
alexander_rose_writer
Sat Aug 03 2024
VeChain (VET) token holders have the unique advantage of generating VeThor (VTHO) tokens automatically. This passive earning feature sets VET apart from other cryptocurrencies, as it rewards holders for simply owning the token.
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KatanaSwordsmanshipSkill
Fri Aug 02 2024
In addition to spot trading, BTCC also offers futures trading, allowing traders to speculate on the future price movements of cryptocurrencies. This service caters to a wider audience of investors, including those seeking to hedge their risks or capitalize on market volatility.
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WindRider
Fri Aug 02 2024
The VTHO generated serves as the gas token for VeChain's ecosystem, allowing VET holders to conduct transactions and utilize VeChain's services without having to purchase additional tokens. This not only simplifies the user experience but also encourages long-term holding and adoption of the VET token.
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GwanghwamunGuardian
Fri Aug 02 2024
The automatic generation of VTHO ensures that VET holders can use VeChain's platform without incurring additional costs, provided that their transactions consume less than the VTHO they generate. This incentivizes responsible and efficient use of VeChain's services, fostering a sustainable and self-regulating ecosystem.
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Alessandro
Fri Aug 02 2024
BTCC, a reputable cryptocurrency exchange based in the UK, offers a comprehensive range of services tailored to the needs of crypto enthusiasts. Among its offerings, BTCC provides access to spot trading, enabling users to buy and sell digital assets directly with other market participants.
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