The recent update by VeChain discusses its upcoming upgrade called VeChain Renaissance, which aims to keep stakeholders up-to-date with regulatory and technical trends. The upgrade will modify the functionalities of VTHO and VET, introducing a new dimension of the reward model through staking NFT. VTHO will no longer be generated at a fixed rate but will be earned as a staking reward, reducing overall inflation. The upgrade will also introduce a burning mechanism to eliminate VTHO transaction fees from circulation and implement a dynamic transaction pricing model. VeChain Renaissance is expected to increase economic security and adoption of the VeChainThor ecosystem.



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