VeChain is up more than 20% since the start of June, with its mainnet software launch and token swap on the horizon.
The platform’s likely launch date is set for June 30th. However, the team has cautioned that the date could shift if new bugs are found.
When the blockchain software launches, well-known and reputable exchanges are expected to handle the token swap for you, converting ERC20 VEN tokens to the new coin, which will use VET as the symbol.
If you don’t have or don’t want your coins on an exchange, VeChain is releasing a new wallet at the same time as the mainnet launch that can be used to swap your VEN into VET.
Every 1 VEN token you have will be converted to 100 VET. This is designed to help facilitate smaller transactions and some of VeChain’s use cases, such as IoT.
VeChain recently released a revamped, updated and ambitious whitepaper outlining future plans to tackle supply chain logistics, cars, IoT, government affairs, blockchain IDs and more.
At time of publishing, the coin currently is $4.18 on CoinMarketCap.