Vechain Thor

[GeckoTrader]

As many of our longer-term community members will know, we are big fans of VEN or as it is now known – VET.

We also happen to be big fans of Binance exchange and the two crypto entities have come together to bring us something magical – a 100 million VTHO airdrop.

Following the launch of the VET Mainnet, Binance has confirmed that it will be distributing 100 million VTHO tokens to all VET holders on Binance exchange.

The amount of VTHO will be dependent on the size of your VET holdings.  For those who don’t know, VTHO is like GAS – it allows for transactions to occur on the VET blockchain.

For those that missed it, the news gets even better. Binance, will be distributing VTHO tokens monthly with a daily snapshot occurring each day.

Naturally, the VET price has already started to rocket off the back of this announcement.

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[o_e_l_e_o]

Worth noting that Binance have already performed the token swap over to VET, so anyone holding old VEN ERC-20 tokens should NOT send them to Binance to try to claim this airdrop. Anyone who has not yet performed the token swap will unfortunately miss out on this airdrop and will have to wait until after August 10th to perform the swap in the VET wallet.

[ShawlyNot007]

Question:

Let's say I currently own 150 VEN = $390

From what I'm reading these VEN are going to be converted to VET @ 1:100 ratio

So now I'll have 15000 VET, so will my investment now be worth $39,000

Or will I end up with VeChain coins alongside VET tokens?

Apologies in advance for the dump question but the info online is not that clear and a bit all over the place.

[buboyskie]

As many of our longer-term community members will know, we are big fans of VEN or as it is now known – VET.

We also happen to be big fans of Binance exchange and the two crypto entities have come together to bring us something magical – a 100 million VTHO airdrop.

Following the launch of the VET Mainnet, Binance has confirmed that it will be distributing 100 million VTHO tokens to all VET holders on Binance exchange.

The amount of VTHO will be dependent on the size of your VET holdings.  For those who don’t know, VTHO is like GAS – it allows for transactions to occur on the VET blockchain.

For those that missed it, the news gets even better. Binance, will be distributing VTHO tokens monthly with a daily snapshot occurring each day.

Naturally, the VET price has already started to rocket off the back of this announcement.

Thank you for the share and right now I am looking to hold a lot of VET to participate also in the staking. For me VET will be one of the coin will have a very big potential in the future. Goodluck to all of us.

[o_e_l_e_o]

Question:

Let's say I currently own 150 VEN = $390

From what I'm reading these VEN are going to be converted to VET @ 1:100 ratio

So now I'll have 15000 VET, so will my investment now be worth $39,000

Or will I end up with VeChain coins alongside VET tokens?

Apologies in advance for the dump question but the info online is not that clear and a bit all over the place.

Neither.

You are correct in saying your VEN will be converted to VET at a ratio of 1:100. You will trade in all your VEN and have 100x as many VET returned to you. You will not hold both.

VET is worth 1/100th of what VEN is worth, and so the value of your investment will not change. You can see this right now by comparing exchanges - Huobi have not yet performed the swap and are trading VEN at 0.00032 BTC, Binance have performed the swap and are trading VET at 0.0000032 BTC.

You can get more info regarding the token swap here: https://www.reddit.com/r/Vechain/comments/91yuoq/some_commonly_asked_questions_regarding_the_token/

[ShawlyNot007]

Okie dokes, thanks for clearing that up for me and the link.

Question:

Let's say I currently own 150 VEN = $390

From what I'm reading these VEN are going to be converted to VET @ 1:100 ratio

So now I'll have 15000 VET, so will my investment now be worth $39,000

Or will I end up with VeChain coins alongside VET tokens?

Apologies in advance for the dump question but the info online is not that clear and a bit all over the place.

Neither.

You are correct in saying your VEN will be converted to VET at a ratio of 1:100. You will trade in all your VEN and have 100x as many VET returned to you. You will not hold both.

VET is worth 1/100th of what VEN is worth, and so the value of your investment will not change. You can see this right now by comparing exchanges - Huobi have not yet performed the swap and are trading VEN at 0.00032 BTC, Binance have performed the swap and are trading VET at 0.0000032 BTC.

You can get more info regarding the token swap here: https://www.reddit.com/r/Vechain/comments/91yuoq/some_commonly_asked_questions_regarding_the_token/

[dreamax25]

The rebranded VeChain token VET now generates ˝gas˝ as VTHO and it's mentioned as one of the top coins to watch for this week. It's still one of my favorite ones so far!
https://coincodex.com/article/2089/coins-to-watch-july-30-august-5-2018/

[Prodigye]

Vechain has constantly delivered on their promises and Vechain Thor is one of their biggest steps so far, although it is still in its early stages I believe it will achieve much more in the future.

[niccolo_21]

Hello I have one question:

some days ago I woke up and found that all of my VET funds on Binance had been automatically converted into VTHO..

Now, I guess this was all perfectly scheduled and it was just me who didn't know about it (I also found this announcement from Binance that should explain);and that's not the point indeed: what I would like to know just is:

• what difference does it make?
• considering that Ledger Nano S does not seem to support VTHO but just VET, what the hell do I do ?

thanks

[niccolo_21]

wait a minute ..

I still have my VETs .. I have my VET funds AND new VTHO funds .. I kinda like this ..