VeThor

VeThor Token (VTHO) is the gas token of VeChainThor, a public Layer-1 blockchain built for enterprise and consumer applications in the real world. Its primary purpose is to pay for transactions and smart-contract execution on the network. The dual-token design it shares with VET is meant to let network-fee levels be adjusted independently from the broader market price of VET, giving businesses more predictable operating costs on-chain.

VeChainThor processes transactions and smart-contract calls on its own Layer-1 network, and every such operation must be paid for in VTHO, which is then burned as a base fee. Following the Hayabusa mainnet upgrade in December 2025, new VTHO is no longer generated passively by holding VET; instead it is issued dynamically through block rewards distributed to validators and delegators who actively stake VET and participate in network security. VTHO has no fixed maximum supply, so the circulating amount of 102,651,348,874 tokens as of the data snapshot reflects a balance between ongoing issuance and ongoing burning.

VTHO fees are paid by anyone submitting transactions or executing smart contracts on VeChainThor, and those base fees are burned rather than distributed, while block rewards go to validators and delegators who stake VET. The data does not include a discrete protocol fee-revenue figure for this site's fee-based measures. The fully diluted value is effectively equal to the market cap — the fdv_to_mcap ratio stands at 1.000053 on a point-in-time basis — reflecting that nearly all supply is already in circulation, with supply issued at 99.994763 percent and dilution overhang at just 0.005326 percent, both point-in-time readings.