TLDR
- The EOS Network has adopted the new brand 'Vaulta,' redirecting its efforts towards leadership in the Web3 banking sector.
- The transformation has spurred a significant rise in trading value for EOS, with a leap of between 30-50%, settling the token price in the range of $0.65 to $0.67.
- Scheduled for May 2025, the swap process will allow for a direct exchange of EOS tokens for Vaulta tokens, maintaining a 1:1 ratio.
- Vaulta will delve into key financial sectors including wealth management, transaction services, investment portfolios, and insurance offerings.
- Despite a recent upswing, EOS remains significantly below its pinnacle value of $22.89, with a downturn of 188% from its all-time record.
The EOS blockchain's journey has taken a new turn with Tuesday's announcement of its rebranding to 'Vaulta,' aiming to focus on Web3 banking, resulting in a swift 30% uptick in their native token's value to $0.65 as per CoinGecko.
The pivot to Vaulta comes as a response to the growing market appetite for novel financial solutions, with the full transition anticipated by the close of May 2025.
Throughout this changeover, holders of EOS tokens will be afforded the opportunity to convert their holdings into Vaulta tokens on a one-for-one basis, with the transition period lasting four months via a special portal.
About 140 exchanges currently trading EOS are set to list the new Vaulta token, with additional information regarding its ticker and technical aspects forthcoming from official channels.
The ambition behind Vaulta's 'Web3 Banking OS' lies in offering tools for fractional ownership in tangible assets, along with a multitude of financial services including staking, custody, and Bitcoin yield strategies.
Key Features and Alliances of Vaulta
Building on the foundation of EOS technology, the platform plans vital enhancements to bolster its integration capabilities with other blockchain networks.
Among the noteworthy advances is the introduction of exSat, a feature designed to facilitate the execution of smart contracts on Bitcoin and increase Vaulta's interoperability with varied blockchain ecosystems.
The reimagined system will boast a remarkable transaction finality time of one second, and will support C++ and Ethereum Virtual Machine (EVM) smart contracts.
Vaulta aims to broaden its financial horizons by forging alliances, including a collaboration with Spirit Blockchain to enable real-world asset fractionalization.
A significant alliance with Ceffu will focus on asset security and yield-generating strategies, aiming to merge DeFi and conventional finance within what Vaulta describes as a 'secure environment.'
The initiative plans to set up a Banking Advisory Board, which will steer the project through insights from representatives among fintech and Web3 entities such as Systemic Trust, Tetra, and ATB Financial.
Since its 2018 launch, EOS has posed a substantial challenge to Ethereum, gaining traction for its swift transactions and reduced fees via a delegated proof-of-stake consensus model.
A New Era of Finance Begins.
We are thrilled to present Vaulta as a revolutionary step forward in the world of finance, pioneering the Web3 Banking era.
With the increasing allure of cryptocurrencies, evolving regulatory landscapes, and a spike in demand for ground-breaking financial products... pic.twitter.com/6TLlHR7MCa
— EOS Network (@EOSNetworkFDN) March 18, 2025
The project made waves by garnering $4.1 billion through its ICO, claiming the record for the most substantial capital raise at the time. Initially dubbed the 'Ethereum killer,' EOS was positioned as a formidable force in blockchain technology.
Within a year of launching, the U.S. SEC filed a case against Block.one, the principal entity behind EOS, for executing an unregistered securities offering.
Block.one resolved the allegations by agreeing to a fine of $24 million, which paled in comparison to the billions raised during its ICO.
Challenges such as network congestion and contentious 'mutual voting' practices have plagued EOS over time, undermining investor confidence and affecting its market performance.
Despite recent positive momentum, EOS's value remains a stark 188% beneath its historic peak of $22.89, underscoring the enduring struggles the blockchain has faced.
Technical evaluators anticipate further growth for EOS, suggesting potential values climbing to between $0.80 to $1 should the current rally persist.
The rebranding has rekindled interest in a cryptocurrency that once occupied a top-tier position, though it has slipped in the rankings as new blockchain innovations have emerged.
