A closer look at the merge of BEST and PAN

Why we’re merging BEST and PAN

VSN was created to simplify our token landscape and scale Bitpanda Web3. Instead of managing separate tokens, this merge introduces a single, multichain-compatible asset optimised for usability and adoption.

What the merge delivers:

• A unified Web3 experience for both BEST and PAN communities
  
  
• A token with real utility across Bitpanda, DeFi Wallet, Protocol, Chain, and Launchpad
  
  
• A simplified structure that supports long-term liquidity and value

This evolution also reflects what our communities have asked for, real utility, fewer silos, and a clearer path to adoption.

How the merge works

The conversion rates for the merge were determined by averaging the daily closing prices of PAN and BEST over 30 days, ending on 25.03.2025. Price changes of BEST or PAN after 25.03.2025 do not affect the conversion rates.

• Holders will be able to convert their tokens at the following fixed rates:

  • 1 BEST = 4.91 VSN

  • 1 PAN = 0.89 VSN

Starting July 9 at 10:00 CEST, users can opt in to the migration and accept the public offering. Once users have initiated the migration, any additional BEST or PAN acquired - whether through purchases or deposits - will automatically be added to their assets ready for migration, without requiring additional user consent. At this time, a snapshot will be taken, VSN’s starting price will be fixed and the EUR conversion price from BEST and PAN to VSN will be announced.

BEST and PAN markets will remain open for trading until July 16 at 10:00 CEST, after which they will close permanently - only deposits, withdrawals, and the token merge will be possible; buying, selling, and swapping will no longer be supported.

On July 16, between 10:00 and 14:00 CEST, the BEST and PAN of all consenting holders on Bitpanda will be merged into Vision and distributed. Behind the scenes, Bitpanda aggregates all confirmed BEST and PAN holdings into a dedicated wallet that interacts with the onchain migration smart contract. In return, it receives the corresponding amount of VSN, which is then distributed back to users’ wallets on Bitpanda.

On July 16, at 14:01 CEST, the trading for Vision will start on select exchanges.

If you are holding BEST or PAN on a self-custody wallet, you can migrate manually using the official Vision dApp, which will be available from July 16th, 10:00 CEST. 

If you do not opt-in for the merge during the 7 day pre-merge period, you can do so at a later time. Should you opt to keep your BEST or PAN, you can send them to an external wallet before, during or after the merge event. Please be aware that Bitpanda will not offer trading for either at any point in the future and all BEST and PAN remaining on the platform will be migrated automatically on 16.07.2026, the one-year anniversary of the merge. 

Next steps

The migration is fast approaching. To ensure a smooth transition:

• Opt in via Bitpanda between July 9 -16 to guarantee you receive your VSN on day one.

• If using self-custody, migrate via the official dApp within the given timeframe.

• Stay updated through Bitpanda’s official channels for any announcements.

Disclaimer

Investing in digital assets carries risks, crypto is volatile. In extreme cases, the invested amount may be lost completely. This article does not constitute an investment advice or an invitation to conclude a transaction. In no way is performance or results guaranteed. You should keep yourself informed and understand the risks involved in buying and holding digital assets.

This article is for general information purposes only and does not constitute investment advice, nor is it an offer or invitation to purchase any digital assets.

Furthermore no representation or warranty, either expressed or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of this article or opinions contained herein.

Investing in crypto assets carries risks, and may not be suitable for all investors. Make sure to conduct your own research before making any investment.