🧐 Underestimated European Opportunities: Why Vision $VSN is Worth Attention——

This year, the RWA concept has been frequently mentioned, and the positive transmission from the U.S. government has been one of the hot topics in WEB3.

Especially when discussing RWA, the two most commonly cited obstacles are:

First, compliance, particularly in Europe, where regulations are daunting;

Second, fragmented experiences, where different tokens and platforms feel like assembling a puzzle.

As a result, many people are aware that this is a trillion-dollar narrative but find it hard to enter.

After seeing Vision $VSN, I feel this is a unique project,

because it seems to represent the "invisible infrastructure" of European Web3, so I have been preparing to write a research report.

With more time during the holidays, here are some of my findings over the past few days:

1️⃣ The "Backer" Behind Vision: Bitpanda

Bitpanda stands behind Vision;

So I first looked into some background on Bitpanda:

1) Over 7 million users, the largest compliant trading platform in the region;

2) Holds multiple licenses including MiCA, FCA, VARA, equivalent to a passport for the entire EU;

3) Partners include traditional banks like Deutsche Bank and Raiffeisen, and it is backed by the Peter Thiel fund.

This means Vision may be genuinely positioned at the intersection of traditional finance and Web3 for long-term development.

2️⃣ Pain Points Vision Aims to Solve

Previously, Bitpanda had two tokens, BEST and PAN, with scattered functions and fragmented liquidity, requiring users to switch between different tokens for various operations, which was particularly cumbersome;

Vision's first step is to convert these two tokens into a unified one at a fixed ratio: one for another, effectively twisting the scattered forces into a single rope.

But that’s not enough; the goal is to create a full-stack ecosystem, from wallets to public chains, from new asset launches to asset tokenization, all connected by VSN,

allowing users to "handle everything with one token," building a complete full-stack compliant ecosystem——

1) Vision DeFi Wallet: Multi-chain management + staking rewards + transaction fee discounts;

2) Vision Protocol: Cross-chain liquidity aggregation, solving the "difficulty of transferring tokens";

3) Vision Launchpad: Entry for new asset launches, requiring staking VSN to participate;

4) Vision Chain: Launching in 2026, an Ethereum L2 designed for RWA, with built-in compliance.

It is clear to see: what they aim to achieve is a single token that connects all compliant Web3 scenarios.

3️⃣ Vision's Partners:

Vision's partnership landscape is also quite interesting — no irrelevant brands just for hype, each collaboration is grounded in "compliance + implementation," gradually opening the door to traditional finance and the mass market.

For example——

Raiffeisen Bank: Tokenizing wealth management and bonds, allowing ordinary people to invest a few hundred euros in products previously only accessible to high-net-worth individuals;

Chainlink CCIP: Solving the issue of secure interoperability for cross-chain assets;

AC Milan & PSG: Using fan economy to attract Web2 users, integrating Web3 into fan engagement;

4️⃣ Token Economics——

The token model of $VSN is indeed intriguing, echoing its token economy: it is not a "speculative tool," but an ecological "blood-generating machine."

First, let's look at the supply: the initial total supply is 4.2 billion tokens, but on September 25, the first quarterly burn was completed, burning 40 million tokens, worth about 5.21 million euros, with the next burn scheduled for December 18.

This "quarterly burn" mechanism means that the circulating supply will continuously decrease ——

Like a glass of water, constantly evaporating, the remaining water naturally becomes more "valuable."

Moreover, the funds for the burn do not come from nowhere; they are drawn from ecological fees:

For example, part of the wallet transaction fees, protocol trading shares, and future chain gas fees will flow back to the foundation to repurchase VSN and permanently burn them, forming a cycle of "using ecological income to support token scarcity."

Next, looking at distribution and governance: about 65% of VSN is allocated to the public, with no preferential allocation for institutions and no team hoarding ——

This ensures that it cannot be controlled by a few individuals, allowing ordinary users to obtain sufficient stakes. More importantly, governance rights: holding VSN allows for voting, such as deciding how much to burn next quarter, how to distribute staking rewards, and whether to introduce new ecological projects. It is not "the project decides," but rather users genuinely participate in decision-making, which is the core logic of Web3.

Current circulation situation:

The circulating supply is 3.49 billion tokens, but after deducting the 2.524 billion tokens locked in staking, the effective circulation is only 1.48 billion tokens — 60.3% of the tokens are staked, and the redemption period is 14 days.

This is mainly due to the project's staking flywheel: staking → earning rewards/new launch qualifications → platform income repurchase → increased scarcity → more people staking.

Currently, over 60% of VSN is staked, indicating that most people are making long-term bets rather than short-term speculation.

5️⃣ Conclusion——

The new asset launch track over the past few months has proven that the primary market often captures "certain money" more easily than the secondary market, with the key being project quality and the support of the underlying ecosystem.

What makes Vision special is not whether it can bring a wave of dividends, but rather using Bitpanda's licenses and full-stack ecosystem to build a compliant Web3 highway in Europe: gradually refining long-standing challenges of compliance, user base, and asset tokenization into a complete path.

The world is competing for the RWA track, and U.S. and Asian projects are often hindered by regulatory uncertainties, while Europe, with clear rules, may become the most stable landing scenario. Vision is building this highway here, connecting traditional finance and Web3.

Hype may fade, but infrastructure will remain.

And $VSN is the passport to this highway.

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