VeChain Unveils Launch Date of Its First Stablecoin VeUSD, With $500,000 Airdrop

VeChain (VET), the leading enterprise blockchain platform, has announced the launch date of its first stablecoin VeUSD.

According to the report, VeUSD will be launched on 14th March 2022. To celebrate the much-awaited launch, VeChain Foundation is preparing giveaway events and a $500,000 in VeUSD airdrop for X-nodes.

Read Also: VeChain Awarded the Status of ‘High and New Technology Enterprise’ by Three Shanghai Government Bodies

VeChain Foundation tweeted, “We are excited to unveil the launch date of VeChain’s first stablecoin, VeUSD! To celebrate, we’ve planned some special events for the community, including a $500,000 airdrop for X-nodes and $50k in minting bonuses!”

In January, it was announced that VeChain’s first stablecoin, VeUSD, was in development. It’s a good thing to hear that the stablecoin is now ready to be launched into the market.

According to a blog post on CoinMarketCap, the public minting portal for VeUSD will go live and be fully accessible to all users via prime.stably.io, representing a new era for the VeChainThor blockchain.

The blog post read in part as follows:

“The launch of VeUSD marks a special moment for us, helping kickstart new objectives for the year and enhancing our capabilities in the enterprise, sustainability, carbon and financial fields. As a versatile layer one public blockchain, we envisage many exciting use case scenarios to come based on client requests. Its addition also serves to boost the scope of functionality for our growing NFT and DeFi ecosystems.”

$50,000 Community Bonus Mint Event

To celebrate the launch of VeUSD, the VeChain Foundation is giving away $50,000 in bonuses to community members who mint VeUSD between 14th March 2022 at 00:00 UTC+0 to 20th March 2022 at 1:59 UTC+0 and meet the following criteria:

Speed:

• VeUSD Quick Draw: The first 100 wallets to mint and deposit $50+ to their VeChainThor address will receive a $25 bonus

Community:

• VeUSD Minter: The first 1000 wallets to mint $50+ VeUSD and send to their VeChainThor addresses will get a $10 bonus

• VeUSD Trailblazer: The first 500 wallets to mint $100+ and send to their VeChainThor addresses will receive a $20 bonus (does not stack with the VeUSD minter bonus)

• VeUSD Pioneer: The first 100 wallets to mint $500 and send to their VeChainThor addresses will receive a $125 bonus (does not stack with VeUSD minter, VeUSD trailblazer bonuses)

• VeUSD Whale: The first 25 wallets to mint $1000+ and send to their VeChainThor addresses will receive a $300 bonus (does not stack with the VeUSD Minter, VeUSD Trailblazer, VeUSD Pioneer bonus)

Miscellaneous:

• VeUSD Megalodon: The 10 addresses with the highest volume of VeUSD minted will receive a $250 bonus

• Eco/X-Node: All X-Nodes & Economic nodes that participate in the event will split a pot of $5,000 VeUSD equally. The individual VeUSD bonus received depends on the total number of participating nodes

Read Also: Grayscale Investments Confirms Consideration of New Products in VeChain, IOTA, EOS

$500,000 Airdrop to X-nodes

According to the report, $500,000 in VeUSD will be airdropped to X-nodes in addition to the community minting event.

The report added that a snapshot of all X-nodes will be taken on 14th March at 00:00 UTC+0. The report says the airdrop is certain for all X-nodes.

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