VeChain Foundation
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VeChain Foundation

VeChain Financial Executive Report Vol. 5

VET Supply Overview

  • Enterprise Investors — After the launch of the VeChainThor mainnet, more business players have learned about the comprehensive solutions we provide past our core technology. This has made many investors take a keen interest in VeChain. Adhering to our original vision — building a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration, and high-speed value transfers, we are looking strictly for strategic enterprise partners who bring fundamental change, or value, to the ecosystem. Comparing with the last period, in which we had settled a few major agreements, the amount acquired in this period, ~166 million VETs is reduced because the team focused the effort on the VeChainThor mainnet launch and migration. Although the overall market had been bearish in this period, VeChain still received a multiple investment offers from renowned institutions and Venture Capitals which we will carefully evaluate and explore in the coming periods.
  • Co-Founders, Development Team — In this period, 530 million VETs were distributed as fifth quarterly rewards to the team. The distribution percentage increased slightly in comparison to the last period as the team continues to grow. Eight full-time team members were employed, and five joined the tech team led by our CTO Jianliang Gu. We are also excited to have Flora Wang, Chief Human Resource Officer and Mike Zhuang Chief Strategy Officer join the management team in this period. Same as the previous periods, the executive team will continue locking up 100% of their rewards gained in this period for two years, starting from the moment of distribution.
  • Operation, Technological and Business development — The focus of this period was to be laser-focused on the token swap and mainnet launch. During this period we conducted the largest official community reward program ever for our one year anniversary alongside our token swap and X Node binding. We appreciate the support from the community and were pleased to see the token swap and X Node binding progress. In addition to the community reward, the development work towards the VeChainThor Blockchain, documentation and tools, community building and academic and business collaboration did not slow down. We continue to see the situations where we have been presented the option to acquire goods, services and the opportunity to fund/invest in technology with VET compared to using fiat or BTC/ETH. Though we hold VET for situations in which favor its longevity, we value the opportunity to use it as a means to judge the outside markets sentiment. The overall budget for operation, technological and business development comprises a combination of VET, BTC/ETH, and fiat based on the situations in which funds were used. Please refer to the below sections for more detailed activities in this areas.

VeChain Foundation Expenditure Details

Announced partnerships and collaborations (Aug — Oct)

  • NTT Docomo (Aug 5)
  • People Insurance Company of China (Sept 2)
  • BYD (Sept 5)

Highlights from the community and marketing events (Aug — Oct)

  • Dr. Peter Zhou was invited by SV Insight to share the concept of the VeChainThor Development Plan and Whitepaper (Aug 1)
  • Sarah attended “Open Innovation Platform” event which hosted by Singapore IMDA Info-communications Media Development Authority (Aug 3)
  • Sunny Lu presented at BYD’s World Wide Development Conference and the live stream was broadcast on National Brand Program CCTV (Sept 5)
  • VeChain and PwC co-organized the blockchain stage at World’s leading startup event — Slush 2018 (Sept 7)
  • VeChain official meetup in Amsterdam (Sep 19) and Paris (Sept 21)
  • VeChain project director Xinli Tian was invited to BYD Qin Pro new car launch conference (Sept 20)
  • VeChain was featured in one of the episodes of “Advancements” with Ted Danson on CNBC (Sept 24)
  • VeChain was selected and displayed on the partnership display wall of the DHL APAC innovation center (Oct 10)
  • Kevin was invited to “EHS in Supply Chain” conference which hosted by Ministry of Emergency Management of the People’s Republic of China and General Electric Company (Oct 15)
  • Introducing the VeChain Technical Deep Dive Series (Oct 15)
  • VeChain was invited to Digital Transformation World Forum (Oct 16)
  • His Majesty King Harald V and Her Majesty Queen Sonja of Norway Witnessed the Signing Ceremony of “DNV GL — VeChain Digital Carbon Ecosystem” in Beijing (Oct 17)
  • Sarah was invited to BMW Executive Innovation Conference (Oct 18)
  • VeChain was invited to BMW IT conference 2018 which hosted at BMW headquarters (Oct 24)
  • VeChain showcased its traceability solution with the influential Singapore sneaker artist — SBTG (Oct 26)
  • VeChain Partners with Shanghai Gas and ENN to Pilot Blockchain-enabled Liquified Natural Gas Solution (Oct 30)



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VeChain Foundation

VeChain Foundation


The VeChain Foundation is a non-profit org. based in San Marino, Europe. VeChain's blockchain tech is enabling real-world digital-sustainable transformation.