VeChain’s staking program goes live with 5.48b VTHO in bonus rewards
VeChain, a layer 1 blockchain for enterprise decentralized applications, has officially unveiled its new staking platform StarGate, with up to $15 million in bonus rewards.
StarGate goes live as the crypto industry lauds the U.S. Securities and Exchange Commission’s landmark guidance that clarified protocol staking does not constitute securities offerings.
Notably, VeChain (VET)’s staking initiative aligns with market anticipation around the launch of the first staking exchange-traded fund in the U.S., all amid overall expectations that the SEC will give a nod to multiple crypto ETFs before the end of 2025.
SEC had initially pushed back on exchang-traded funds with staking.
VeChain offers $15 million in bonus rewards
As announced on July 1, network participants in VeChain’s staking ecosystem are set for a chance to win huge bonus rewards.
In particular, the project has outlined a bonus reward campaign that will offer up 5.48 billion VTHO tokens worth about $15 million over the next six months. These bonus earnings are a major incentive for stakers as VeChain looks to bolster its platform with native staking that taps into non-fungible token technology
To benefit from the staking offer, users have to withdraw their VET from exchanges to their self-custody wallets, including VeWorld, VeChain’s official wallet. Only staked VET in self-custody wallets will be eligible for the staking NFT required to activate the rewards.
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