Part 1: New Token Issuance Clarifications Regarding VET Holder Benefits
VeChainOfficial last edited by VeChainOfficial
Originally published on March 20th, 2018.
Although it is still early, we have received many inquiries about how the future New Token Issuance on VeChainThor will benefit the community. We would like to take this time to extend a brief idea of how these opportunities power X Node participants, and general VET holders.
Please note that this is rather a single perspective explanation for the entire schema, which we are designing to encourage and assist management to incubate projects that require a New Token Issuance. This is in no way the full description of token issuances on VeChain Thor or limiting additional opportunities for participants.
Not every token issuance taking place on VeChainThor will be officially backed by VeChain Foundation. There are certain token issuances VeChain Foundation will officially back due to its strategic nature within our platform that make our ecosystem more complete. At the same time, due to the amount of energy and resources for VeChain Foundation to actively engage in assisting these strategic projects during a token issuance, it is not physically possible for us to officially endorse and actively help every single project on VeChainThor. Therefor, VeChain Foundation will have a system, and a scale, for multiple degrees of foundational sponsorship and support.
VeChain Foundation will publicly distinguish officially backed token issuances so that community will know the degree of sponsorship, endorsement and scrutiny from VeChain’s teams resources to the issuer. Official backing is not a badge of superiority within the ecosystem but rather distinguishes technology that VeChain is actively dedicating resources to.
The following are a portions of the New Token Issuance structure that pertains to the scope of X Node permissions and ecosystem benefits:
X Node holders will have early access to whitelist on all future VeChain Foundation officially-backed New Token Issuances. This is flexible only to future regulations, compliance and law changes;
Different X Node tiers will receive different levels of discounts, based on discount levels determined by the issuing team at the time of the token issuance;
All future VeChain Foundation officially-backed New Token Issuances will be required to take at least 50% of tokens raised in the form of VET;
Project teams will use raised tokens other than VET first for development and operation expenses, and will use VETs last as VeThor is necessary for their operations;
If not needed by the foundation for unforeseen critical development purposes, a significant amount of the project’s entity/foundation controlled VET coins will mandated to be locked for 2 years. We anticipate other projects will optionally adopt a similar strategy when issuing tokens on VeChainThor.
We will roll out more benefits as we grow or as timing is right for their release, please stay tuned.