EOS transforms into a 'web3 bank' and changes its name to Vault, planning to launch a new token

According to The Block, the public chain EOS will be renamed Vaulta and transformed into a "web3 bank". If the proposal is approved, EOS tokens will be exchanged for new vault tokens starting from May. Vault will be built around the existing EOSIO software on the blockchain and integrated with exSat, a so-called 'docking layer' that can introduce smart contracts into Bitcoin. The cross chain system will have a 1-second transaction finality and support smart contracts compatible with C++and EVM. Vault's "web3 banking operating system" will provide an institutional level financial service through partnerships with projects including Ceffu, Spirit Blockchain, and Blockchain Insurance. The Vault Bank Advisory Committee is composed of experts in the finance and blockchain industries, with members from Systemic Trust, Tetra, and ATB Financial.