Vechain

Overview

Vechain (VET) is the native asset of the Vechain blockchain. It utilizes:

Account model
ECDSA signature algorithm

VeChainThor is the layer 1 blockchain which powers the VeChain ecosystem. VeChainThor is a public blockchain that is designed for mass adoption and is intended to serve as a foundation for a sustainable and scalable blockchain ecosystem.

Explorer

https://explore.vechain.org/

Wallets Types

BitGo enables holding Vechain in the following wallet types:

	Multisig Cold	Multisig Hot	MPC Cold	MPC Hot
Custody	❌	❌	✅	❌
Self-Custody	❌	❌	✅	✅

Ticker Symbols

Mainnet	Testnet
vet	tvet

Units

The smallest unit of VET (Vechain native coin) is called "Wei".

1 VET = 10^18 (1,000,000,000,000,000,000) Wei
1 Wei = 0.000000000000000001 VET

You can pass balances in string or integer format. However, BitGo recommends using string format to ensure values don't exceed the programmable number limit.

Tokens

The Vechain blockchain natively support tokens.

Fees

Every VET transaction-whether involving tokens or native coin, and whether a withdrawal or consolidation—must pay a gas fee. This fee is determined by both the execution & IO costs and storage costs.

VET wallets at BitGo utilize a Gas Tank to cover transaction fees as the designated fee payer. Total fee would be calculated based on the gas_used * gas_unit_price * ( 1 + ( gas_price_coefficient / 255 )).

Note: gas_price_coefficient is currently set to 128. gas_unit_price is set to 10,000,000,000,000 wei.

Create Wallet

cURL
JavaScript

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export BITGO_EXPRESS_HOST="<YOUR_LOCALHOST>"
export COIN="tvet"
export ACCESS_TOKEN="<YOUR_ACCESS_TOKEN>"
export LABEL="<DESIRED_WALLET_NAME>"
export PASSPHRASE="<YOUR_BITGO_LOGIN_PASSPHRASE>"
export ENTERPRISE_ID="<YOUR_ENTERPRISE_ID>"

curl -X POST \
  http://$BITGO_EXPRESS_HOST/api/v2/$COIN/wallet/generate \
  -H 'Content-Type: application/json' \
  -H "Authorization: Bearer $ACCESS_TOKEN" \
  -d '{
    "label": "'"$LABEL"'",
    "passphrase": "'"$PASSPHRASE"'",
    "enterprise": "'"$ENTERPRISE_ID"'",
}'

Create Address

Vet does not require a minimum balance for receiving addresses. However, an additional cost is incurred for on-chain address initialization.

cURL
JavaScript

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export COIN="tvet"
export WALLET_ID="<YOUR_WALLET_ID>"
export ACCESS_TOKEN="<YOUR_ACCESS_TOKEN>"

curl -X POST \
  https://app.bitgo-test.com/api/v2/$COIN/wallet/$WALLET_ID/address \
  -H 'Content-Type: application/json' \
  -H "Authorization: Bearer $ACCESS_TOKEN"

Consolidate Balance

Consolidation Transfer Fee Source: Vechain Gas Tank

To consolidate your receive address balances into the root address, enter the coin as VET, or a VET Token (vet:vtho).

cURL
JavaScript

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export BITGO_EXPRESS_HOST="<YOUR_LOCALHOST>"
export COIN="tvet"
export WALLET_ID="<YOUR_WALLET_ID>"
export ACCESS_TOKEN="<YOUR_ACCESS_TOKEN>"
export ADDRESS_1="<DESTINATION_ADDRESS_1>"
export ADDRESS_2="<DESTINATION_ADDRESS_2>"
export WALLET_PASSPHRASE="<YOUR_WALLET_PASSPHRASE>"

curl -X POST \
  http://$BITGO_EXPRESS_HOST/api/v2/$COIN/wallet/$WALLET_ID/consolidateAccount \
  -H 'Content-Type: application/json' \
  -H "Authorization: Bearer $ACCESS_TOKEN" \
  -d '{
    "consolidateAddresses": [
    {
      "address": "'"$ADDRESS_1"'"
    },
    {
      "address": "'"$ADDRESS_2"'"
    }
  ],
    "walletPassphrase": "'"$WALLET_PASSPHRASE"'"
}'

Transact

Withdrawal Fee Source: Vechain Gas Tank

cURL
JavaScript

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export BITGO_EXPRESS_HOST="<YOUR_LOCALHOST>"
export COIN="tvet"
export WALLET_ID="<YOUR_WALLET_ID>"
export ACCESS_TOKEN="<YOUR_ACCESS_TOKEN>"
export ADDRESS="<DESTINATION_ADDRESS>"
export AMOUNT="<AMOUNT_IN_BASE_UNITS>"
export WALLET_PASSPHRASE="<YOUR_WALLET_PASSPHRASE>"

curl -X POST \
  http://$BITGO_EXPRESS_HOST/api/v2/$COIN/wallet/$WALLET_ID/sendmany \
  -H 'Content-Type: application/json' \
  -H "Authorization: Bearer $ACCESS_TOKEN" \
  -d '{
    "recipients": [
    {
      "address": "'"$ADDRESS"'",
      "amount": "'"$AMOUNT"'"
    },
  ],
    "walletPassphrase": "'"$WALLET_PASSPHRASE"'"
}'

Stake

BitGo doesn't currently support staking on the Vechain blockchain.

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