First published 10 June 2020. The chain had been live since 30 June 2018. Expanded in October 2026 so the fee token is not folded into the ticker people trade. VeChainThor is a blockchain aimed at companies that want a shared record of goods. VET is its token. The supply is fixed, on the order of 86.7 billion, after a 2018 split in which one old Ethereum token called VEN became 100 VET. That split is finished. VEN is not VET. A site that offers to finish the swap now is not the 2018 window.
The fee is a second token, VTHO. You do not pay for a transfer in VET. At launch, holding VET generated VTHO on a daily rate the foundation published. Later upgrades changed that formula, including one that mints new VTHO from VET that is locked rather than from every balance. A 2018 PDF is not the rate in the wallet. VTHO has no fixed cap. It is fuel. It is not a second VET you can treat as the same position.
Who produces the blocks
The chain uses proof of authority. A whitelist of authority nodes produces blocks. The project’s papers required those operators to pass an identity check and to lock a large VET collateral, on the order of 25 million in the original plan. A committee can change the whitelist. That is a different design from a chain anyone can mine. Running a copy of the software to read the ledger is not the same as being on the list that writes it.
Part of each fee is burned and part pays the node that made the block. The split is a parameter. The network has already changed how the fee is divided. Thirty percent to the node and seventy percent burned is the old sentence. Read the current rule if the split matters. It is not a dividend of VET.
A VeChain address starts with 0x. So does an Ethereum address. They are not the same network. The wrong network is still the wrong city. VTHO on the chain is not VET, and a token with either ticker on Ethereum is a different entry. Nothing here is an instruction to buy VET, to lock it, or to apply to run a node.
