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- The launch of the Hayabusa testnet earlier this month positions the upgrade for deployment on December 2.
- In support of the upgrade, South Korea’s Bithumb will suspend its deposits and withdrawals.
The VeChain Renaissance roadmap is steadily progressing. With Phase 1, Galactica, now complete, the stage is set for the Hayabusa upgrade, which is scheduled to launch on December 2. In a recent announcement on X, the VeChain team confirmed new exchange backing for the upgrade:
“The VeChain Hayabusa upgrade countdown has begun. We express our gratitude for the official support from BithumbOfficial, one of the leading exchanges in Korea.”
To prepare for the upgrade, Bithumb will temporarily suspend deposits and withdrawals for VeChain (VET) and VTHO starting at 3:00 PM KST on Tuesday, December 2. The exchange explained that this pause is necessary to ensure the secure and stable processing of assets during the network transition. Services for both VET and VTHO will be restored as soon as the network is confirmed to be fully stable after the upgrade.
Bithumb also explained that,
“The expected timing of the network upgrade may vary depending on network conditions and block generation speed.”
As previously reported by CNF, several leading global exchanges, including Binance, Coinbase, Crypto.com, KuCoin, and Revolut, have also confirmed their technical readiness for the Hayabusa upgrade.
Changes Introduced by Hayabusa
With the Hayabusa upgrade, VeChain is introducing some technical shifts. The network will be moving from a Proof-of-Authority (PoA) system, where a fixed group of authority nodes validates transactions, to a Delegated Proof-of-Stake (DPoS) model that enables broader participation and greater decentralization.
Within this updated framework, the network will depend on 101 validators to generate blocks with earnings allocated such that 30% is directed to validators and 70% to delegators. Users will be able to stake VET directly or delegate their stake through staking-NFTs, and any holder with 25 million VET can enter the validator queue under a first-in, first-out system.
VeChain has also confirmed that the Hayabusa upgrade is officially recognized under the EU’s Markets in Crypto-Assets (MiCA) regulatory framework, with updated whitepapers for both VET and VTHO formally filed with authorities on November 19.
This recognition now increases Vechain’s credibility and will ensure transparency across all 27 EU member states. As part of the roadmap, Stargate testnet is to launch by the end of 2025, with Phase 3, Interstellar, bringing JSON-RPC compatibility and an EVM upgrade in 2026.
