VeChain Foundation is ready to welcome its new crypto product in its Defi ecosystem to give ease to the veChain ecosystem users.
VeChain is a popular crypto project and its native token is standing at 26th rank in the crypto industry. Right now this project has its mainnet and allows smart contract development on its network. However, this project was launched in 2015 with its VET token on ERC-20.
On 3 January, VeChain Foundation announced through Twitter that something special is coming and also added the hashtag #VeUSD.
However, VeChain Foundation didn’t elaborate much about it but the majority of the reports confirmed that VeUSD will unleash the potential & capabilities of the Defi Platforms in the veChain ecosystem.
The blockchain VeChainThor may be working on a new initiative to bring a new revolution and new era for the defi industry.
Around 3 months ago, the VeChain community supported the fork in the veChain network to shift Proof-of-Authority Consensus into Proof-of-Authority 2.0.
“the VeChain Research and Development teams have been working on a massive upgrade of the VeChainThor blockchain called SURFACE (PoA 2.0), standing for a Secure, Use-case-adaptive, Relatively Fork-free Approach of Chain Extension, ” the team announced
So here, major chances are, VeUSD may be the new product of a new upgrade in the veChain ecosystem to unleash new features and the ability for Defi Platforms.
Besides the stabelcoin product, we can see that tweet contained hashtags of #web3 also. So there are chances that the VeChain Foundation may introduce some kind of new initiative with this to integrate the veChain ecosystem with web3 to go with the current ongoing trend in the crypto industry.