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HomeCrypto NewsMarketVeChain Announces $550,000 Giveaway as Firm Sets Launch Date For Its VeUSD Stablecoin  

VeChain Announces $550,000 Giveaway as Firm Sets Launch Date For Its VeUSD Stablecoin  

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VeChain Sets Launch Date For Its VeUSD Stablecoin.



Leading blockchain platform VeChain (VET) has announced the official launch date of its first-ever stablecoin dubbed VeUSD. 

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According to a recent announcement, the much-anticipated public minting portal for VeUSD will be launched on Monday, March 14, 2022, via prime.stably.io, an initiative that will usher in a new era for the layer 1 blockchain platform. 

“The launch of VeUSD marks a special moment for us, helping kickstart new objectives for the year and enhancing our capabilities in the enterprise, sustainability, carbon, and financial fields,” VeChain said in the announcement.  

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It also noted that its stablecoin development is in preparation for many exciting use cases to come to enable the company to meet clients’ demands in the future, VeChain added. 

Notably, VeChain, which recently bagged a prestigious award from the Shanghai government, assured the public that it will be releasing a comprehensive video tutorial to guide users about the steps and procedures of minting the VeUSD stablecoin. 

$550,000 Giveaway Exercise

In a bid to celebrate the launch of VeUSD, VeChain has announced a series of giveaway events. According to VeChain, it will be distributing a whopping $550,000 to users in two different promotion events. 

Promotion A

The first giveaway dubbed the Community Bonus Mint Event will see VeChain distribute $50,000 to community members who mint VeUSD from March 14, 2022 to March 20, 2022. 

Some of the rewards for users in this category include a $125 bonus for the first 100 wallets to mint and deposit a minimum of $500 to their VeChainThor addresses, a $250 reward to 10 addresses with the highest VeUSD minting volume among others. 

Promotion B

For the second giveaway promotion, VeChain said it will distribute a total of $500,000 in the form of VeUSD X-node holder airdrop. 

This giveaway promotion is part of VeChain’s effort to reward its loyal and long-term community members known as the X-node. 

“A snapshot of all X-nodes will be taken on 14 March, 00:00 UTC+0. There is NO requisite criteria for receiving the airdrop. Users will receive their VeUSD gift during the week commencing 14 March,” VeChain said. 

Other forms of giveaway promotion for the VeUSD stablecoin also include a trading competition on OceanEx, Vexchange, and VeRocket, with winners expected to be rewarded in VeUSD. 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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