Altcoin NewsMarch 11, 2018 by Kate Leaman

Ten Days Left To Lock VeChain Tokens (VET) In X Nodes Program

Investors who have at least 6,000 VeChain tokens (VEN/VET) can lock those tokens under the X node program, which ends on March 20. To do so, the tokens have to be moved to a trackable wallet such as MEW (My Ether Wallet) to receive the additional benefits offered for locking the tokens in the X node program.

Recently, VeChain (VEN), a global enterprise level public blockchain platform, rebranded itself as VeChain Thor (VET). The developers conducted a program to introduce VeThor token in Singapore. Following the successful rebranding event, on March 6, the foundation committee members announced the Economic X nodes program in appreciation of the early supporters of VeChain. In this regard, the foundation locked up another 50 million VET tokens to create the once in a lifetime opportunity. Interested investors should be able to meet the requirements for the X Series nodes by March 20, 2018 UTC +8, 12:00 noon time.


Rules for program X

• The VET tokens should be held on a trackable wallet such as MEW (My Ether Wallet).
• An investor who do not meet the criteria for a X Node by the time stamp above will never be able to upgrade to a variation of the X Node, only the traditional economic nodes.
• In the X Nodes system, an investor can only upgrade. Nobody will be permitted to downgrade to another X node.
• Once the tracked VeThor X Node VET balance drops below 6K, then the node designation is lost forever, along with its ability to upgrade into a greater X Node.
• If an investor holds 156K VET in a trackable wallet by the deadline ends, then the maturity period starts
counting immediately, even prior to mainnet launch (March 20).
• If an investor adds VET for a Kjolnir X Node after the deadline but before the mainnet, for example, April 27 or May 2, then maturity period does not start right away. An investor’s maturation for Mjolnir X Nodes starts at the mainnet launch and it will last 180 days. All investors will have to go through Strength X, Thunder X, then reach Mjolnir X eventually. If VET drops below threshold, in the meanwhile, the X node status will be lost.
• If an investor downgrades from an X Node and lose the X Status prior to mainnet release, then the investor will have to endure the 10-20-30 day maturity period for regular economy nodes.

Benefits

• A X Node status is only granted to those who supported the VeChain project during early stages.
• The Mjolnir X Node is the highest rewarding node of the economic node system.
• A VeThor X Node or higher created on March 20, 2018 can be upgraded to a higher tier X Series Node after the minimum VET criteria and maturity period are met.
• All X Node holders will be designated with a special distinguishing VID to represent their status in the
VeVID system.
• Investors who enroll themselves in the X Node program will get the same Base VeThor reward at a predetermined speed.
• Investors will get VeThor rewards from the 150m VET’s pool. Additionally, VeThor rewards from the
foundation’s 50 million VET reward pool will also be granted to X Node participants.

How to lock in masternode

1) Buy atleast 6,000 VET to qualify
2) Transfer VET to a MEW (My Ether Wallet) before March 20