Introducing Vision: the all-in-one Web3 token that unites BEST & Pantos

A short message from our CEO and co-founder, Eric

“You may have noticed that elements of our upcoming token system - including parts of the planned Token merge – briefly appeared in the app on Wednesday. This was not intentional. What you saw was an early test version of a much larger, still-evolving project. To use an analogy: imagine preparing to hand over a beautifully finished home with every detail in place, only for someone to walk through the construction site mid-build. That’s where we are right now. While we’re not ready to reveal all the details yet, we want to acknowledge what happened and share as much as possible as of now.”

One Token. Three Dimensions. Real Impact.

Vision (VSN) will be the cornerstone of Bitpanda Web3 - a single asset designed to connect Bitpanda, decentralised applications, and the broader onchain ecosystem.

• On the Bitpanda platform
  VSN will enhance the user experience across Bitpanda, unlocking benefits, activating exclusive features and making every interaction more rewarding.
  
  
• In the Bitpanda DeFi Wallet
  As the native token of the Bitpanda DeFi Wallet, VSN will power participation in Web3 apps and enable gamified onchain rewards.
  
  
• Across the onchain world
  Built with interoperability in mind, VSN will be ready to grow beyond Bitpanda—connecting with the wider Web3 landscape and evolving alongside it.

The Vision (VSN) will serve as the gas token across the ecosystem, covering transaction fees within the Vision Protocol. We’re also evolving the burn and reward mechanics familiar from BEST, adapting them to better fit the new Web3 environment. The total supply of VSN will be set at 4.2 billion tokens, with circulating supply details to follow closer to launch.

From BEST and Pantos to Vision: How the merge will work

To ensure a transparent migration, we are using the 30-day average daily closing price to determine how much VSN will be allocated to each project. This approach minimise the impact of short-term price fluctuations and promotes an equitable process.

Key details:

• The 30-day reference period used for calculating the conversion rates ended on March 25, which was the last day included in the average daily closing price calculation.
  
  
• Any price changes of BEST or PAN after 25.03.2025 do not affect the conversion rates. This mitigates price manipulation.
  
  
• 30-Day Average Daily Closing Price: The conversion rates were determined by averaging the daily closing prices of PAN and BEST over the 30 days prior to the public announcement.
  
  
• Holders can convert their tokens at the following fixed rates:
  
  1 BEST = 4.91 VSN
  
  1 PAN = 0.89 VSN
  
  
• Trading for BEST and PAN will be disabled before VSN goes live.
  
  
• The exact time of the merge is still open, we will keep you up to date as soon as it is ready. You will be informed several weeks in advance.

Disclaimer: This is just an announcement and not an offer to the public under the Markets in Crypto-Assets Regulation (MiCAR). More details for VSN and the merge of BEST and PAN to follow.

A community governed future

VSN will be issued and governed independently of Bitpanda by the Vision Web3 Foundation and supported by onchain governance functionalities. Transparent community voting will guide the token’s long-term direction, aspiring that VSN's evolution reflects the interests of its holders.

Through this decentralised approach, VSN will gain the freedom to grow beyond its origins. The Web3 Committee will act as an advisory body to the foundation, and its members will use their expertise and public standings to bring the ecosystem forward. The second Web3 Committee meeting has taken place today, March 28, and we will share an overview in a separate blog soon.

Vision will become a community-driven asset, with its own trajectory, partnerships, and integrations across the wider Web3 landscape.

The 47th and BEST burn numbers

We’ve completed the 47th BEST burn of 4,052,096 tokens with a total value of €2,442,603.69. As we are revamping the burn mechanics for the new token, this was the final burn for BEST. Over the course of 47 burns since January 2020, we have burned a combined 330.580.909 BEST. 

We’re very excited to share more about the next chapter of this journey in due time.

Disclaimer

Please keep in mind that Bitpanda may at any time terminate the BEST Rewards and may decide not to pay them out. BEST rewards, as any other feature within the Bitpanda Loyalty Programme, do not represent a claim on or against Bitpanda or any of its affiliates and shall not be deemed legally binding. See also Bitpanda Loyalty Programme Terms for more details. Any potential rewards granted on Bitpanda Broker or in the DeFi Wallet under the new VSN token programs will also be subject to the terms and conditions of a loyalty programme and are not connected to VSN itself and also will not represent a claim on or against Bitpanda or any of its affiliates. 

Please also note that certain statements contained in this document may constitute forward-looking statements or speak for future events or plans. Such forward-looking statements or information involve known and unknown risks and uncertainties, which may cause actual events to differ materially. No reliance should be placed on any such forward-looking statements or information.

This article is distributed for informational purposes, and it is not to be construed as an offer or recommendation. It does not constitute and cannot replace investment advice.

Bitpanda does not make any representations or warranties as to the accuracy and completeness of any information contained herein. 

Investing carries risks. You could lose all the money you invest.