DragonEx supporting VeChain token swap while Foundation promises to compensate holders


DragonEx, often one of the top 30 crypto-exchanges in the world, has announced that it will be supporting VeChainThor’s mainnet launch and associated token swap.

In a statement, translated from the original Chinese, DragonEx told its users that they would “help you to deal with any technical problems in the main network upgrade.” Once token switching has been completed anyone who held the VeChain token will receive the equivalent in the new digital asset. The exchange also notified its customers that they should stand by for information on the “specific content of the main network upgrade.”

DragonEx, which is registered in Singapore and operates out of Thailand, describes itself as “The Most User-friendly Cryptocurrency Exchange.” Holders of its Dragon Token (DT) receive a share of the commission earned by the exchange for its trading.

Compensation for VeChain token holders

Community concern yesterday prompted VeChain to change its timeline around the release of the VeChainThor wallet.

The VeChain Foundation say that the new wallet “might be one of the most secure wallet in any market” as they have “utilized the weight of third party auditors and combed through every line of code to ensure security.” It will act as “the portal to all kinds of dapps on the VeChainThor Blockchain” and is apparently so full of functionality that “the word wallet may even be limiting.”

The release is scheduled for July 9th, after which the X Node Binding Service will be available until 10 days after the VeChainThor Ledger app is ready for migration. Exchanges will begin the process of token swapping in mid-July. The VeChain Foundation promises that token holders will be compensated in VTHO for the process of X Node binding and token swapping.

The VeChain community has responded positively to the news, particularly the notification that they will be compensated. One Reddit user said that this was an “awesome move by the team” as the Foundation had listened “to your investors’ concerns and acting accordingly.”

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