VET · nothing mints it, and the lock isn't a lock.
VET is the supply coin of VeChainThor, a two-token chain where fees are paid in a separate gas token — 85.99B circulating out of the 86.71B made in one go in 2017. There is no mint function anywhere, because VET is not a token contract.
Sell pressure. Zero, on all four rows. Nothing can be created, the 2017 schedule left no calendar behind, and no identified wallet released a coin this quarter.
Buy pressure. Zero too. The base-fee burn destroys the gas token, not VET — and the 1.15B that moved into staking can be withdrawn on demand, so it takes nothing off the market.
Net. 0.00% — nothing added, nothing removed, and the same reading ahead. A flat supply, not a shrinking one.
Every VET that will ever exist was made in the 2017 genesis block — 86,712,634,466 of them — and the official position is that no new tokens will ever be created. VET is the chain's own coin rather than a token contract, so there is no mint function to call. Validators and stakers are paid in the network's separate gas token, never in VET.
The 2017 distribution finished years ago and left no calendar behind. There is no cliff, no drip and no escrow contract still paying out, and no unlock tracker carries a VeChain page at all — there is nothing left to schedule.
No public evidence of release in window — monitored. Watched: the VeChain Foundation treasury, which publishes a value but no wallet address, last disclosed at about $167M across all assets with the VET slice not broken out; and the retired 2019 buyback wallet, which read empty at both ends of the quarter.
VeChain is a going concern. There is no bankruptcy estate, no trustee and no court-ordered distribution, so this row has nothing to carry.
The only VET repurchase VeChain has ever run started in July 2019 and is long finished; the wallet it used holds nothing. No replacement programme has been announced, so there is no bid on this side.
VeChainThor does burn its base fee in full — but the fee is paid in the network's second token, so what is destroyed is that token and not one VET. Checked both ways: the published supply figure was identical at both ends of the quarter, and the two unreachable addresses took in a combined 102,441 VET, which is 0.0001% of supply and comes from misdirected sends rather than any mechanism.
No public evidence of release in window — monitored. No identified VeChain wallet bought VET on the open market during the quarter, and no purchase mandate has been disclosed.
A net 1.15B VET did move into the staking contracts over the quarter — the biggest number on this page — and it removes nothing. An undelegated position can be withdrawn at any moment with no waiting and nothing lost; the only real hold is a tier waiting period that tops out at 60 days and can be bought out instantly for a fee; and a delegated position waits at most 30 days for its cycle to end. Supply that can leave this week is custody, not a lock.
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