VeChain: VEN to VET Token Swap, Q&A
I'm a VeChain investor and currently doing the research for the VeChain mainnet launch.
You need to conduct a tokenswap from VEN to VET. For this there are two options:
a. Transfer/leave your token on an exchange (like binance, kucoin and others) and the exchange will conduct the token swap for you.
b. Download the mobile wallet on your smartphone (available from today, 9th of July) and conduct the swap amnually. There are multiple guides and videos how to.
Masternodes: In order to receive Thor (somewhat similar to GAS from NEO), you need to "stake" (=leave the VET tokens in your wallet).
In case you have a lot of VET (>10k), you can run a Mastnode for extra Thor rewards. Specific details on the Masternodes can be found via this link: https://medium.com/@vechainofficial/vechain-apotheosis-part-ii-thor-power-forged-974111a93278
What I'm currently uncertain about: I've read on multiple occasions that there is a conversion factor of 1VEN=100VET.
Is this true and do the Masternode amounts consider this, i.e. do I need 1k VEN or 10k VEN for the 10k VET (Strength) Masternode?
It would be greatly appreciated if you know the answer and also could link to a source. More related questions are very welcome!