The article discusses the upcoming holistic upgrade of VeChainThor called VeChain Renaissance, which aims to position stakeholders above technical and regulatory trends and facilitate significant network growth. The upgrade focuses on reimagining tokenomics, particularly the separation of utility token VET and gas token VTHO. The current token model generates a fixed amount of VTHO, regardless of network contributions, and a large portion of VET is held in an exchange wallet without distribution to users. The upgrade intends to reduce VTHO generation, distribute rewards to active stakeholders, make VTHO issuance rate dynamic, and introduce new staking opportunities and greater decentralization through Proof of Authority (POA) 3.0. Additionally, the dynamic fee mechanism feature will address security challenges. The upgrade is designed to empower the VeChain community and provide more opportunities within the ecosystem. At the time of writing, VET was trading at $0.057, with an 8% decline in the last 24 hours.



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