- VeChain’s Galactica testnet is live; mainnet launch set for July 1, stirring token speculation.
- Revised tokenomics and Ethereum-compatible tools aim to boost staking, developer access, and community roles.
VeChain has confirmed that its much-hyped Renaissance protocol update, dubbed “Galactica,” is live on the testnet. The release on the mainnet is planned for the 1st of July, establishing an aggressive deadline for the important infrastructure change. The company has stated that this is part of an ongoing process for enhanced network performance and community cohesion.
$VET‘s Renaissance protocol upgrade successfully hit testnet today and targets July 1st for mainnet launch! 🔥
Smart money accumulating $VET now before this massive upgrade goes live on mainnet.
Real enterprise adoption + working tech + $16T tokenization market opportunity =… https://t.co/yD0OZ0xcvY
— CryptoBusy (@CryptoBusy) May 20, 2025
Before such an upgrade, investors are increasingly looking towards VET, the network’s native token. There has been early positioning, with speculation building about value action. Some believe the structural shifts in July can be the spark that causes greater demand for the token.
The update comes as experts are associating VeChain’s potential with the growing tokenization market, projected to reach an extent of $16 trillion. Supporters contend that if VeChain goes through the rollout according to schedule, it would work in favor of VET in terms of reach and utility.
Tokenomics Revision Boosts Community Participation
At the center of the update is a new tokenomics system. The update opens network verification to participation for Economic Nodes and X-Nodes, who will be rewarded in the form of VTHO for their work in securing blockchain activity. This opens up earning opportunities for more token holders.
The update also leans toward greater decentralization, with greater responsibility placed in the hands of the community. As the network is supported by more users, VeChainThor is looking forward to being better equipped for compliance with long-term regulations. All these steps aim to attract consistent participation from both new and old holders.
The VTHO token model is also being modified. Amendments consist of a new distribution strategy and incentives for staking. They aim to support both ongoing projects and new projects being developed based on VeChainThor, such as apps associated with the VeBetterDAO platform.
Ethereum-Compatible Tools Now Supported
The technical improvements aim at interoperability too, making VeChainThor more compatible. JSON-RPC, the popular interface, is being implemented in order to support compatibility with tools and apps based on Ethereum. Wallets, bridges, and other known software fall under it.
By conforming to Ethereum Virtual Machine standards, VeChainThor will enable the large number of already-experienced 100,000+ developers in the existing ecosystem to build on the platform. Smoother integration and greater access for the developers is the aim, an effort towards ensuring broader adoption beyond cryptocurrency native users.
Businesses and institutions will also benefit from the change. Exchanges, custodial solutions, and enterprise software will find it simpler to connect to VeChainThor through the shared interfaces that are now being implemented. The company intends to release further descriptions for these updates next week.
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Source: https://www.crypto-news-flash.com/vechain-renaissance-upgrade-july-launch/?utm_source=rss&utm_medium=rss&utm_campaign=vechain-renaissance-upgrade-july-launch