VeChain

VET Launched 2018 source

What this page is: neutral, sourced facts about VeChain. Every line links where it was checked. 10 facts, 0 from primary sources. Educational, not financial advice.

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Launch

The VeChainThor mainnet launched in June 2018, and VEN migrated to the native VET token. secondary source source

Founders and creators

Sunny Lu. secondary source source
VeChain was founded in 2015 by Sunny Lu. secondary source source

Origin story

It began by combining blockchain with NFC chips, RFID tags and QR codes to track product authenticity and supply chains, with VEN, an ERC-20 token on Ethereum. secondary source source

Stated purpose

Supply chain. secondary source source

Consensus mechanism

Since the Hayabusa upgrade on December 2, 2025, VeChainThor has run on Delegated Proof of Stake. secondary source source

Supply model

VTHO is used to pay for transactions. secondary source source

Main uses today

VeChainThor uses a dual-token model: VET is used for staking and network security, while VTHO is the gas token used to pay transaction fees. secondary source source

Key milestones

Since the Hayabusa upgrade on December 2, 2025, VeChainThor has run on Delegated Proof of Stake. secondary source source

Notable events and controversies

The Interstellar hard fork brought VeChainThor's EVM in line with Ethereum's Cancun, Prague and Osaka upgrades. secondary source source

Sources & studies

Last checked: 2026-11-04 · Prices, market caps and circulating supply are left out on purpose because they change by the minute. Educational, not financial advice.

Education only, not financial advice. No signals. Backtests are hypothetical: real trading can be worse. Past results don't predict future results.