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

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"'",
}'

const { BitGo } = require('bitgo');

const accessToken = '<YOUR_ACCESS_TOKEN>';

// Initialize the SDK
const bitgo = new BitGo({
accessToken: accessToken,
env: 'test',
});

// Generate hot wallet
async function createHotWalletSimple() {
const newWallet = await bitgo.coin('tvet').wallets().generateWallet({
    label: '<DESIRED_WALLET_NAME>',
    passphrase: '<YOUR_BITGO_LOGIN_PASSWORD>',
});

console.log(JSON.stringify(newWallet, undefined, 2));
}

Create Address

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

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"

const { BitGo } = require('bitgo');
const accessToken = '<YOUR_ACCESS_TOKEN>';

// Initialize the SDK
const bitgo = new BitGo({
  accessToken: accessToken,
  env: 'test',
  customRootURI: 'https://app.bitgo-test.com',
});

// Create address
const wallet = await bitgo.coin('tvet').wallets().generateWallet({
  label: '<DESIRED_WALLET_NAME>',
  passphrase: '<YOUR_BITGO_LOGIN_PASSPHRASE>',
});

const address = await wallet.createAddress(
);

// Print address details
console.log(JSON.stringify(address, undefined, 2));

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).

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"'"
}'

const BitGoJS = require('bitgo');
const Promise = require('bluebird');

const bitgo = new BitGoJS.BitGo({ env: 'test' });

const coin = 'tvet';

// Enter your wallet ID
const walletId = '<YOUR_WALLET_ID>';

// Enter your wallet passphrase
const walletPassphrase = '<YOUR_WALLET_PASSPHRASE>';

// Enter OTP code
const otp = '<YOUR_OTP>';

// Enter your access token
  bitgo.authenticateWithAccessToken({ accessToken });

  const wallet = await bitgo.coin(coin).wallets().get({ id: walletId });
  // Base address
  console.log('Base Address:', wallet.coinSpecific().baseAddress);
  // Confirmed balance - sum of the balances of all the addresses
  console.log('Confirmed Balance:', wallet.confirmedBalanceString());
  // Spendable balance - balance of the base address
  console.log('Spendable Balance:', wallet.spendableBalanceString());

  const consolidationTxes = await wallet.buildAccountConsolidations();

  try {
    for (const unsignedConsolidation of consolidationTxes) {
      const res = await wallet.sendAccountConsolidation({ walletPassphrase, prebuildTx: unsignedConsolidation });
      console.dir(res, { depth: 6 });
    }
  } catch (e) {
    console.error(e);
  }
);

Transact

Withdrawal Fee Source: Vechain Gas Tank

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"'"
}'

let params = {
  recipients: [
    {
      amount: "<AMOUNT",
      address: "<DESTINATION_ADDRESS>",
    },
  ],
  walletPassphrase: "<YOUR_WALLET_PASSPHRASE>",
};
wallet.sendMany(params).then(function (transaction) {
  // Print transaction details
  console.dir(transaction);
});

Stake

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