The VeChain Renaissance has begun, introducing the ability to stake NFTs for enhanced rewards.

The recent enhancements to Vechain’s staking mechanism are designed to promote decentralization, improve user interaction with the network, and refine the tokenomics by mandating users to stake VET to earn rewards. This updated staking framework introduces tiered weights and more economic node choices, allowing for greater involvement. VeChain has officially launched its Renaissance initiative, marking a significant transformation within its blockchain framework. The recent update following the Galactica vote introduces a new staking mechanism that moves away from mere passive rewards. The restructuring aims to improve network participation by implementing an NFT-centric staking framework, simultaneously transforming VeChainThor’s token economics. VeChain’s Updated Staking Model: Increased Incentives for Engaged Users. In the context of the Renaissance framework, VeChain eliminates the automatic generation of VTHO from VET assets. Users must now actively stake their VET to earn rewards, which enhances the decentralization and security of the network. The introduction of Staking NFTs is crucial to this transformation, allowing users to secure the network while benefiting from a more vibrant reward structure. This progress follows the blockchain network reaching significant achievements in February, as mentioned in our prior article. The introduction of the staking system features Delegator NFTs that represent different levels of commitment to VET. Delegators will receive 210% of the block rewards, while Validators, who create the blocks, will earn 22025% of the rewards along with 29% of the priority fees generated from network transactions.