VeChain Launches Stablecoin with $550 Giveaways
VeChain will be launching its much-anticipated stablecoin on March 14. The network begins a new journey in 2022 with the launch of its stablecoin, dubbed VeUSD. Reportedly, the network’s future projects and products will be designed to give more utility to VeUSD tokens. The news is one of the recent positive developments on the network, including its moves towards sustainability. According to the latest announcement made by the VeChain network, the coin will be accompanied by a suite of gifts, offers, and giveaways.
Launched in 2015 by Sunny Lu, VeChain is leading the progressive front of the crypto space thanks to its vision and design. VeChain was created with mass adoption in mind in sectors where project management needs a simplified solution. Now, its use cases have expanded to networking, voting, and others. Recently, the network announced its plans to explore sustainability options for its ecosystem and other industries with the launch of VeCarbon. It is believed that VeChain expects this stablecoin to play a pivotal part in its sentiment towards minimizing carbon emissions.
The Vechain network is currently using two tokens for its operations on the network. VTHO is the governance token used to fuel transactions and for availing of other services. VET is another token that runs on speculation and is used in crypto exchanges for value transfer. These tokens are currently traded at $0.02 in the market. However, they have the potential to go as high as $0.20 in the next two years. You can read more about VET from this detailed Vechain prediction. Now, the network launches the third token, the VeUSD stablecoin, which will be anchored directly to the price of the USD.
The launch of the new stablecoin carries a huge sum for the initial giveaways. The first part of the promotion carries $50,000 to be distributed as community bonuses among the members. To avail themselves of this offer, users need to participate in the launch event set to happen between March 14 to 20. The first 100 wallets to deposit $500 after minting will receive a $125 bonus. Another $250 bonus will be offered to 10 addresses with the highest minting values.
The second part of the promotion is set to involve a high giveaway. Yes, the VeChain network will distribute a staggering stash of VeUSD coins worth a total of $500,000. The airdrop is planned to reward the loyalty of the network’s long-term holders and users of the X-node. Apart from being the users of X-node, this offer does not have any specific criteria to be eligible for the airdrop. Moreover, the network is also conducting trading competitions on popular exchanges like Vexchange, VeRocket, and OceanEx, and the rewards will be paid as VeUSD.