VeChain has announced the launch of Stargate, which forms a new platform for NFT staking and broadens user accessibility. Under Sunny Lu's leadership, the company is focusing on sustainability and new opportunities for validators.
Launch of Stargate and Participation Simplification
Stargate was launched on July 1, enabling broader user participation by eliminating technical barriers. The update modifies VeChain's rules and token setup, introducing an NFT-based staking system.
Users can lock VET tokens through automated contracts. The locked amounts determine NFT tiers, representing levels of participation. There are seven distinct NFT tiers based on the locked VET. Users can withdraw funds at any time and cancel NFTs as they wish.
Annual returns reach 15% for validators, while users delegating stakes via NFTs can obtain 12%. Stargate expands operations to support 500,000 participants, utilizing delegated staking. Existing XNode holders may convert their status to new NFTs.
Focus on Sustainability
Sunny Lu reaffirmed that sustainability is a central tenet of VeChain. To support startups and companies, the vBetterDAO platform has been created, rewarding eco-friendly practices with various tools.
Lu noted that many companies use ESG as a promotional element without real impact. In contrast, VeChain's approach allows for small sustainable choices that achieve measurable results. VeChain's global network now spans the U.S., Africa, Europe, and Southeast Asia, with institutional participants acting as validators, enhancing network security and supporting VeChain's sustainability commitments.
Current VeChain Metrics and Market Activity
Currently, VeChain (VET) is trading at approximately $0.02324, registering a 4.82% increase over the last 24 hours. This rise comes amid renewed interest in real-world asset tokenization, a sector where VeChain is gaining strategic traction.
With a market capitalization nearing $2 billion and a daily trading volume of $49.05 million, VeChain remains a mid-cap altcoin with strong enterprise fundamentals and increasing global utility. From a technical analysis standpoint, VET has recently bounced off its monthly support zone near $0.021, forming a minor ascending channel on the daily chart. The next resistance level is expected between $0.0255 and $0.0262.
With the launch of Stargate, VeChain demonstrates its commitment to sustainability and user base expansion. These innovations, alongside the active participation of international institutions, strengthen the network and support the company's long-term goals.
