European crypto services provider Bitpanda, has announced the consolidation of its existing tokens—Bitpanda Ecosystem Token (BEST) and Pantos (PAN)—into a unified token named Vision (VSN).
The company says the strategic move aims to streamline its user experience and enhance utility both within the Bitpanda ecosystem and across the broader Web3 landscape.
Background on BEST and PAN
Launched in 2019, BEST has served as Bitpanda’s native token, offering user benefits like trading fee discounts and priority access to new features. Simultaneously, PAN was introduced as part of the Pantos project, focusing on enabling cross-blockchain token transfers and fostering interoperability among diverse blockchain networks.
What Will Vision Do?
The Vision token is designed to integrate the functionalities of both BEST and PAN, providing a single Bitpanda ecosystem asset for users. By merging the tokens, Bitpanda says it aims to simplify its tokenomics and offer enhanced features and benefits within its platform – more suited to the expanding Web3 environment.
BEST and PAN Token Conversion Details
Current holders of BEST and PAN will have their tokens automatically converted to VSN at fixed rates determined by the 30-day average daily closing price ratio of BEST to PAN:
1 BEST = 4.91 VSN
1 PAN = 0.89 VSN
The company says the conversion will ensure a “seamless transition” in for existing token holders into the new Vision ecosystem.
