KuCoin will temporarily halt VET deposits and withdrawals on December 2nd as VeChain prepares to deploy its Hayabusa upgrade. This crucial change brings new tokenomics, rewards, and consensus mechanisms without introducing any new tokens. The move follows VeChain’s announcement of final preparations for the upgrade, scheduled for around 11:27 UTC. KuCoin anticipates a smooth transition after confirming network stability.
The exchange’s statement assures users that trading will continue uninterrupted during this time and highlights that the upgrade will not create new tokens or distribute additional assets to existing holders.
VeChain emphasizes its commitment to strengthening the network through these significant changes, marking their biggest technical advancement since the mainnet launch.
The Hayabusa upgrade signifies a major milestone for VeChain, with KuCoin playing a vital role in ensuring a seamless transition. Users are advised to avoid transfers until services resume and will receive updates through official channels after the network stabilizes.