VeChain is a public layer-1 blockchain, VeChainThor, that was built mainly to record supply-chain and product data. It has two tokens. VET is the fixed-supply value token. VTHO pays for transactions. Since the Hayabusa hard fork on 2 December 2025, the network runs on Delegated Proof of Stake, and new VTHO now goes only to staked VET. Simply holding VET no longer earns it. The latest protocol change is the Interstellar upgrade (VIP-255), which VeChain's node software scheduled for mainnet on 16 September 2026. It brings VeChainThor's virtual machine in line with Ethereum's recent upgrades. It does not change token supply or staking rules.
What changed most recently (2025–2026)
VeChain calls its protocol overhaul the "Renaissance". It has three phases:
| Phase | Mainnet date | What it changed |
|---|---|---|
| Galactica | 1 July 2025 (block 22,084,200) | A dynamic fee market modelled on Ethereum's EIP-1559 (VIP-251). It has a base fee that is 100% burned and an optional priority fee paid to the block proposer |
| Hayabusa | 2 December 2025 (block 23,414,400) | Moved from Proof of Authority to Delegated Proof of Stake. New VTHO is tied to staked VET |
| Interstellar (VIP-255) | 16 September 2026, 11:15:10 UTC (block 25,902,540) | Adds EVM features from Ethereum's Cancun, Prague and Osaka releases |
Interstellar, September 2026
VeChain's 6 August 2026 announcement describes what VIP-255 adds:
- New instructions: transient storage (EIP-1153), MCOPY (EIP-5656), updated SELFDESTRUCT rules (EIP-6780) and CLZ (EIP-7939).
- Cryptography: BLS12-381 operations (EIP-2537), secp256r1/P-256 signature verification (EIP-7951) and updated MODEXP input bounds and gas costs (EIP-7823, EIP-7883).
- Limits: a gas cap of 16,777,216 per transaction (EIP-7825), an 8 MiB block size limit (EIP-7934), and access to the last 8,191 block hashes (EIP-2935).
- Not included: blob transactions.
The vote ran on VeChain's VeVote platform from 10 to 17 August 2026. Validators and eligible StarGate NFT holders could vote. VeChain says Interstellar does not change:
- VET or VTHO supply, issuance or burning
- staking rewards or how they are split between validators and delegators
- StarGate NFTs
- addresses and token contracts
Ordinary holders do not need to do anything. Node operators had to upgrade their software before the fork.
Hayabusa, December 2025
Before Hayabusa, blocks were produced by up to 101 Authority Masternodes, which needed KYC approval. Under the StarGate documentation's rules after the fork:
- Validators stake at least 25 million VET and run a node. The active set is capped at 101 validators. VeChain's 2026 roadmap says Hayabusa raised the staking cap per validator to 600 million VET.
- Delegators stake through StarGate NFTs and delegate to a validator. Once a validator has at least one delegator, it keeps 30% of the block rewards it earns and delegators share the other 70% in proportion to their stake.
- Passive VTHO is gone. The StarGate docs say: "Base VTHO rewards (accumulated just by holding VET) do not exist any more."
VeChain's April 2026 roadmap says total staked VET grew from 2.52 billion to 13 billion. That is VeChain's own figure.
VET and VTHO: the two-token model
| VET | VTHO | |
|---|---|---|
| Role | Value transfer, staking, governance voting | Pays for transactions and contract execution |
| Supply | Fixed at 86,712,634,466 VET. VeChain says no new VET will be created | Issued each block to staked VET. Burned through fees |
| How it is earned | — | Staking through a validator or StarGate NFT (since Hayabusa) |
How VTHO is issued now
VeChain's documentation gives the post-Hayabusa annual issuance formula as:
VTHO_gen = 1200 × 64 × √(VET_staked)
Because of the square root, issuance grows more slowly than the amount staked. The docs' worked example: with 2.525 billion VET staked, the network generates about 3.86 billion VTHO a year.
How VTHO is burned
Since Galactica, each transaction fee has two parts:
- a base fee, set by the protocol and burned
- an optional priority fee, which goes to the validator that proposed the block
As a result, how much VTHO is burned depends on how much the network is used.
StarGate NFT tiers
StarGate turns a VET stake into an NFT. Eco tiers have a maturity period before rewards start. X tiers are for migrated legacy nodes.
| Tier | VET required | Maturity | Reward multiplier |
|---|---|---|---|
| Dawn | 10,000 | 2 days | 1 |
| Lightning | 50,000 | 5 days | 1.15 |
| Flash | 200,000 | 15 days | 1.3 |
| Strength | 1,000,000 | 30 days | 1.5 |
| Thunder | 5,000,000 | 45 days | 2.5 |
| Mjolnir | 15,000,000 | 60 days | 3.5 |
A non-delegated NFT can be unstaked at any time. A delegated NFT must first leave delegation, and that only completes at the end of the validator's cycle. Validator cycles are 7, 15 or 30 days.
Features built for business use
- Fee delegation. VeChainThor lets someone other than the sender pay a transaction's fee. Multi-Party Payment (MPP) and VIP-191 "Designated Gas Payer" both do this. Under VIP-191, a sponsor co-signs the transaction, so an app can cover its users' fees. If both MPP credit and a VIP-191 signature are present, MPP pays.
- Multi-clause transactions. One transaction can carry several clauses. VIP-191 was written partly to support fee sponsorship of multi-clause transactions that call different contracts.
Does your VET still earn VTHO?
Answer up to three questions to see whether your VET earns VTHO under the post-Hayabusa rules.
How do you hold your VET?
- Just held in a wallet, not staked → No VTHO from holding alone
- Staked through a StarGate NFT → next question
- Staked as a validator running a node (at least 25 million VET) → You earn as a validator
Is your StarGate NFT delegated to a validator?
- No, it is not delegated → Staked, but not delegated
- Yes, it is delegated → next question
Is it an Eco tier NFT that has not yet passed its maturity period (2 days for Dawn up to 60 days for Mjolnir)?
- Yes, it is still in its maturity period → Rewards start after maturity
- No, it has matured, or it is an X tier from a migrated legacy node → You earn as a delegator
Since the Hayabusa hard fork on 2 December 2025, new VTHO goes only to staked VET, and holding VET alone no longer earns it. Under the rules in the article, you earn VTHO by staking through a StarGate NFT (Dawn needs 10,000 VET) or as a validator. Older guides that say holding generates VTHO are out of date.
The article covers VTHO rewards for NFTs delegated to a validator. It does not describe rewards for an NFT that is not delegated. A non-delegated NFT can be unstaked at any time.
Eco tiers have a maturity period before rewards start: 2 days for Dawn, 5 for Lightning, 15 for Flash, 30 for Strength, 45 for Thunder and 60 for Mjolnir.
Once a validator has at least one delegator, it keeps 30% of the block rewards it earns. Delegators share the other 70% in proportion to their stake. The tier table lists reward multipliers from 1 (Dawn) to 3.5 (Mjolnir). To exit, the NFT must first leave delegation, which completes only at the end of the validator's cycle of 7, 15 or 30 days.
Validators stake at least 25 million VET, run a node, and the active set is capped at 101. Once you have at least one delegator, you keep 30% of the block rewards you earn. Since Galactica, the optional priority fee on each transaction also goes to the validator that proposed the block.
This only shows who earns VTHO under the rules the article describes. It does not estimate how much VTHO you would earn, and it is not advice on whether to stake.
Real-world use
Three deployments show how VeChainThor has been used outside crypto:
- Walmart China (June 2019). Walmart China launched a food traceability platform on VeChainThor with the China Chain-Store & Franchise Association, PwC, the cattle company Inner Mongolia Kerchin and VeChain. It was announced on 25 June 2019. The first batch was 23 product lines. Shoppers could scan products to see source, logistics and inspection records.
- BMW VerifyCar (2019). BMW tested a VeChainThor app against odometer fraud. Mileage data is stored privately and only a hash is written on-chain. 2019 reports describe it as an internal test.
- VeBetter. This sustainability rewards platform was developed with Boston Consulting Group. Users earn the B3TR token for verified actions such as using a reusable cup. In April 2026, VeChain reported 5.3 million users, 50+ live apps and 50+ million verified actions. Those are VeChain's own figures.
Regulation
VeChain says its whitepaper and VeBetter's whitepaper are listed in the European Securities and Markets Authority's (ESMA) interim MiCA register.
Risks and open questions
- Concentration. The active validator set is still capped at 101 nodes, with a 25 million VET minimum. Delegation lets smaller holders take part, but block production remains with a small set of operators.
- Usage versus upgrades. The protocol has changed a lot since 2025. Burn only offsets issuance if the network is actually used, and VeChain's adoption figures are self-reported.
- Outdated guides. Many older guides still say holding VET generates VTHO. That has not been true since December 2025.
- Security. Use the official VeWorld wallet and the official StarGate app. VeChain reports over 5 million VeWorld downloads. Treat unsolicited airdrops and third-party "staking" offers with suspicion.
This is not investment advice. Crypto assets are volatile and can lose most or all of their value.
