VeChain, a layer 1 blockchain for enterprise decentralized applications, has officially launched its new staking platform StarGate, offering participants up to $15 million in bonuses.
Launch of StarGate Platform
The StarGate platform has officially gone live amid positive reactions to the recent guidance from the U.S. Securities and Exchange Commission, stating that protocol staking does not constitute securities offerings. VeChain anticipates multiple crypto ETFs may receive approval by the end of 2025.
Bonus Rewards for Staking Participants
As of July 1, VeChain announced a massive campaign whereby staking participants can earn up to 5.48 billion VTHO tokens, equivalent to about $15 million. These rewards aim to incentivize users to stake and enhance the platform's decentralization.
Availability and Staking Requirements
To benefit from the staking offer, users must withdraw their VET from exchanges to their self-custody wallets, including VeWorld, VeChain’s official wallet. Only staked VET in self-custody wallets will be eligible for the staking NFT required to activate the rewards.
The launch of the StarGate staking platform and the significant bonus offerings illustrate VeChain's commitment to expanding its ecosystem and attracting new participants while ensuring regulatory compliance.
