Bitpanda Launches VSN Token for 20% Fee Discounts and 10% Staking Rewards

Bitpanda, a leading European crypto platform, has announced the launch of its Vision (VSN) token, marking a significant step towards building a fully compliant Web3 ecosystem. The VSN token, set to launch on July 16, will serve as the utility and governance token for Bitpanda's onchain infrastructure, connecting wallets, trading, cross-chain liquidity, and tokenized assets. This initiative is part of Bitpanda's broader ambition to create a user-first, compliant Web3 ecosystem designed for mainstream adoption.

The VSN token will offer users a range of benefits, including 20% fee discounts on Bitpanda.com and Bitpanda’s DeFi Wallet, staking rewards of up to 10% APY, governance rights to vote on protocol changes, early access to vetted Web3 token launches through the Bitpanda Launchpad, and participation in exclusive token drops and reward programs. Lukas Enzersdorfer-Konrad, Deputy CEO at Bitpanda, highlighted the token's role as the engine behind Bitpanda's Web3 initiatives, comparing it to electricity in modern life, fueling the ecosystem and rewarding users for their engagement.

Bitpanda's Web3 ecosystem is designed to be accessible and compliant, aiming to bring millions of users into the Web3 space. The ecosystem includes several key components: the Bitpanda DeFi Wallet, Vision Protocol, Vision Chain, and Bitpanda Launchpad. The Bitpanda DeFi Wallet is an intuitive smart wallet supporting over 5,000 tokens across major blockchain networks, offering institutional-grade security. Vision Protocol acts as the liquidity engine, aggregating top decentralized exchanges and bridges for seamless cross-chain swaps. Vision Chain is a compliant Ethereum Layer 2 network for tokenizing real-world assets, serving as the backbone for Europe's onchain finance. Bitpanda Launchpad is a platform for launching curated, high-quality crypto projects, ensuring investor protection and project legitimacy.

Eric Demuth, Co-Founder and CEO at Bitpanda, emphasized the company's commitment to building a compliant, secure, and user-friendly onchain future. Bitpanda has assembled a strong team of Web3 industry experts to achieve its ambitious plans, aiming to make Web3 accessible to everyone in a compliant and secure manner. With over 6.5 million users and a proven track record of working with local regulators, Bitpanda is one of the safest and most strictly regulated trading platforms in the industry. The company's headquarters are in Vienna, with additional offices in Amsterdam, Barcelona, Berlin, and Bucharest.