VeThor

VeThor (VTHO) is the gas token of VeChainThor, a public Layer-1 blockchain built to serve enterprise and consumer applications in the real world. Its specific job is to pay for transactions, smart-contract execution, and other on-chain operations on that network. The dual-token design — where VET serves as the primary network asset and VTHO covers fees — is meant to let fee costs be adjusted independently of VET's market price, giving businesses more predictable operating expenses.

VeChainThor processes blocks at a rate that, according to the stored data, rounds to effectively continuous (block time recorded as 0.0 minutes), though no consensus algorithm is specified in the data available here. VTHO is spent whenever a user or application submits a transaction; the base fee portion of each transaction is burned, permanently removing that VTHO from circulation. Since the Hayabusa mainnet upgrade in December 2025, new VTHO is no longer generated simply by holding VET; instead it is issued dynamically as block rewards to validators and delegators who actively stake VET to secure the network.

VTHO has no fixed maximum supply; its outstanding amount is shaped by the interplay of dynamic issuance to stakers and the burning of base fees paid by network users. Fees are paid in VTHO by anyone submitting a transaction or running a smart contract, and validators and delegators who stake VET receive newly issued VTHO as rewards. The circulating supply stands at approximately 103.9 billion tokens against a market capitalisation of roughly 66.1 million USD, and the ratio of fully diluted value to market cap is 1.000112 at this point in time, meaning virtually all issued supply is already counted in the circulating figure. Thirty-day average trading volume represents 88.66% of market capitalisation over that period, indicating a high rate of turnover relative to the asset's size.