VeChain Adds New Economic X Nodes Program
As a way to reward early supporters of VeChain, the VeChain foundation are rolling out their new Economic X Nodes Program. The current node system will remain as is with no changes while the new node program will only be available until a deadline. The VeChain foundation have committed to locking up 50 million VET tokens for the new Economic X Nodes and have stated the purpose for the new program is to begin the trust tracking for the VeChainThor ecosystem and reward early participants.
The deadline to have your VET on a trackable wallet for the snapshot is MARCH 20th UTC + 8, 12:00 noon.
This is a one-time opportunity. If you do not meet the minimum requirements for a X Node by March 20th, you will never be able to upgrade to an X Node, only the traditional economic nodes.
The new X Nodes system will not allow you to downgrade to a lower tier X Node, you can only upgrade. If you decide to decrease your holdings, you will be downgraded to a traditional node so long as you meet the requirements. Once downgraded to a traditional node, you will not be able to ever upgrade to an X Node. Adding more to your holdings while currently owning an X Node will upgrade it to the next tier X Node.
The Mjolnir X Node is the highest rewarding node one can obtain in VeChain's economic node system. All X Node holders will be designated with a special distinguishing VID to represent their status in the VeVID system. There are several benefits that come with holding an X Node. Holders will be the first ones to be involved in community ecosystem creation and expansion. They will also be automatically whitelisted to participate in exclusive VeChain projects.
For more details:
VeChain Medium
VeChain Website
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Thanks for this update.
I personally think that they should have given longer notice, maybe 20th April to allow people more time.