A while back Vechain released VeChain Thor (VET) as apart of their network. The concept behind VeChain Thor is actually quite similar to GAS by NEO, where holders can earn dividends for just owning the token.
Who doesn’t like free money?
In addition to dividends, if you own any VeChain Thor you can purchase vouchers VeChain main net network to create smart contracts or interact with the dApps on the platform.
What is the VeChain to VeChain Thor swap?
One of the most commonly discussed topic is the VeChain to VeChain Thor swap. Users will have the opportunity to swap their VEN for VET at a 1:1 ratio when the new blockchain goes live.
When users hold VET, they will receive dividends of THOR. THOR will most likely be used by businesses as payment to run applications on the new blockchain. This allows companies to scale and build blockchain applications quicker.
If you currently hold VeChain on a platform like Binance, it’s quite simple to do a swap or exchange to VeChain Thor within the exchange.
To get an estimate of how much you can make from just holding VeChain Thor, you can use this calculator.
You will generate Thor with every single VET that you hold so you could just have 1 and still generate Thor.
This is an excellent way to generate passive income from just holding onto a token.
If you’re also looking for other tokens that can help you generate passive income, make sure to check out our other guide here.
The base generation rate of THOR for VET holders is:
0.00042 THOR per VET per day. So if you’re holding onto 1 VET, you’ll receive 0.0042 THOR per day.
The company can and might revote to a higher payout in the near future.
To quickly summarize:
- Buy some VeChain Thor
- Hold onto it
- Receive passive dividends or income from it.
- Eventually, move the VeChain Thor that you hold onto a wallet.
What’s VeChain Thor?
Alright, now that we know how you can make some money off VeChain Thor, let’s go into what the company is about so you can understand more about it’s core concept.
If you haven’t already, you can check out our VeChain guide to understand VeChain’s company vision and goals as a whole.
VeChain Thor’s goal is to move the company beyond the supply chain into Enterprise DApp solutions similar to Ethereum. The new platform will use two different tokens:
- VeChain Tokens (VET)
- Thor Power (THOR)
- VET will be used by companies as the smart payment currency to run business activities on the blockchain. Businesses who hold more VET will be given higher priority and more rights on the new VeChain Thor blockchain.
Is VeChain Thor a good investment?
In terms of past performance VEN remained largely stable until a spike in Jan 2017 where it reached highs of $9.
Since then, it’s been stabilizing at a good price range. Most people consider the current price point to be undervalued.
A key driver for VeChain thor is the acquisitions of new partnerships. In late February 2018 VeChain announced a partnership with a variety of companies including the likes of BMW as well as a collaboration with Oxford University which makes the company look a lot more promising.
Probably one of the most attractive things about VeChain Thor and the main purpose of this article is the ability to hold onto it to make passive income.
It certainly isn’t a get rich quick scheme, but it’s a great way to diversify your cryptocurrency portfolio.
Unlike many cryptocurrencies the aim of VeChain isn’t to replace real world currency but rather to solve real world problems. In many ways this makes VeChain a safer long term investment than more traditional cryptocurrencies as the technology behind VEN has real value in the form of contracts and partnerships.
VeChain is one of the most established blockchain companies in the industry. One of the most impressive aspects about VeChain from a business point of view is that they already have a functioning product that is being used by supply chain and governments.
Having partnerships with giants like PwC and the Chinese government, they should have no problem growing their client base.
If VeChain continues at their current pace, it wouldn’t be a surprise to see VET as one of the top performers of 2018.
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