KEY TAKEAWAYS
- VeChain announces the VeChain Renaissance, a major blockchain protocol overhaul set for 2025, focusing on tokenomics and interoperability.
- The initiative is divided into three phases: Galactica, Hayabusa, and Intergalactic, each with specific goals for blockchain enhancement.
- The Galactica phase introduces a dynamic gas fee model and Shanghai EVM upgrade, with stakeholder voting for mainnet integration.
- The Hayabusa phase aims to improve VeChainThor’s economic appeal through new tokenomics and staking opportunities.
VeChain has announced a significant overhaul of its blockchain protocol, termed the VeChain Renaissance, set to unfold in 2025. This initiative aims to enhance the platform’s tokenomics, improve VTHO consumption and distribution, and achieve seamless interoperability through JSON RPC integration and full Ethereum Virtual Machine (EVM) compatibility. The project is divided into three phases: Galactica, Hayabusa, and Intergalactic, each representing ambitious objectives for the blockchain’s future.
Galactica Phase: Setting the Foundation
The first phase, Galactica, involves the submission of VeChain Improvement Proposals (VIPs) by the core protocol team. These proposals will address new technical elements, such as a dynamic gas fee model and the Shanghai EVM upgrade. The Galactica Testnet will be launched, allowing developers and decentralized application (dApp) builders to experiment with these features before mainnet integration.
A critical component of this phase is an all-stakeholder voting event, inviting Authority, X, and Economic Node holders to participate in the decision-making process for merging Galactica with the mainnet. The transition to the mainnet is scheduled for the second quarter, introducing the Dynamic Fee model and Shanghai EVM upgrades to VeChainThor. Additionally, new tiers of Economic Nodes will be introduced, although no new X Node tiers will be created.
Hayabusa Phase: Enhancing Economic Attractiveness
The Hayabusa phase will see the submission of VIPs focused on new tokenomics, staking opportunities, and an improved VTHO consumption and distribution model. This phase aims to enhance the economic appeal of VeChainThor, reward active participation, and further decentralize the blockchain. An all-stakeholder vote will take place in the third quarter to approve the Hayabusa phase, with detailed information on tokenomics provided beforehand to ensure transparency.
The Hayabusa mainnet launch will introduce a revamped reward model to incentivize staking and ecosystem activity. It will also implement a more intelligent VTHO distribution system, reducing overall issuance. The upgraded Node system will offer new staking opportunities, including validator Nodes and Economic or X-Nodes, with a new VTHO issuance curve model ensuring rewards for active network contributors.
The VeChain Renaissance represents a significant transition for the VeChainThor blockchain, aligning with the evolving cryptocurrency landscape. For more detailed information on the roadmap and upcoming updates, visit the official announcement here.
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