Do I receive VTHO if I have VET stored on my hosted wallet?
If you have stored VET on your hosted wallet you will receive VTHO on a monthly basis. The way this works is described in more detail below:
- Every day at a fixed time we determine how much VET every user has in his wallet. All of these daily values are added up at the end of the month.
- At the end of the month we determine how much VTHO has been produced by all the VET from the users of Bitvavo.
- Thereafter the produced VTHO will be distributed evenly among the users that have VET in their hosted wallets.
You can find an example for illustrative purposes below:
- User A had in one month on one day 50 VET, he had 100 VET for two days and on the other days he had no VET in his hosted wallet at Bitvavo. Added up, he had 250 VET during this month.
- The total of VET per day added up for all Bitvavo users is 500.000.
- The total produced VTHO that will be distributed is 1.000.
- User A would get 250/500.000*1.000=0,5 GAS
The distribution of VTHO will be added to your hosted wallet on every first Tuesday of the month.