Bitpanda's involvement in the struggle for Web 3.0
### Bitpanda Unveils Visionary Web3 Ecosystem with VSN Token
Austrian crypto exchange Bitpanda is launching its own Web3 ecosystem, centred around a new token called Vision (VSN). The innovative suite aims to revolutionise decentralised finance (DeFi) and digital asset management, with a focus on regulation, accessibility, and interoperability.
At the heart of the Vision ecosystem lies the **Bitpanda DeFi Wallet**, a self-custody wallet offering users control over their assets, access to over 3,000 cryptocurrencies, instant swaps, and cross-chain functionality. It serves as the primary gateway for interacting with decentralised applications (dApps), DEXs, and DeFi protocols.
The **Vision Protocol** is another crucial component, enabling efficient asset transfers between different blockchain networks, enhancing interoperability and user flexibility.
The **Vision Launchpad** is a platform for the launch of vetted, early-stage token projects, giving VSN holders priority access to new opportunities. Meanwhile, the **Vision Chain** is a regulated Ethereum Layer 2 blockchain designed to address regulatory compliance while supporting DeFi activities, including real-world asset (RWA) tokenization.
Decentralised governance, managed by the Vision Web3 Foundation—an independent Swiss entity—allows major decisions to be voted on by VSN holders through on-chain governance.
### VSN Token: Powering the Vision Ecosystem
The VSN token, formed from the merger of Bitpanda’s previous BEST and Pantos tokens, serves as the native asset powering the Vision ecosystem. Its key features include governance, staking rewards, utility, loyalty and rewards, and strategic partnerships.
VSN holders can participate in quarterly votes to shape the protocol’s evolution, including decisions on staking rates, reward pools, and protocol upgrades. Users can also stake VSN to earn up to 10% APY, contributing to network security while generating passive income.
VSN is used to pay fees across Bitpanda’s Web3 products, including the DeFi Wallet, Broker, Protocol, and Vision Chain. Paying fees in VSN unlocks benefits such as up to 20% trading fee discounts and access to premium features.
The Vision Loyalty Programme offers additional perks like XP boosts for missions (leading to airdrops), early access to Launchpad projects, and expedited entry to the Bitpanda Club.
Vision has formed alliances with major football clubs like Paris Saint-Germain and AC Milan to integrate Web3 solutions into fan experiences, offering exclusive benefits to token holders.
### Impact on the Financial Industry
Bitpanda’s Vision ecosystem is poised to democratise finance by combining user-friendly tools, self-custody, and broad cryptocurrency access, lowering barriers to entry for both retail and institutional investors seeking to participate in DeFi.
The introduction of Vision Chain as a regulated Layer 2 solution addresses one of the major hurdles for mainstream DeFi adoption—compliance with financial regulations—enabling secure, legally sound tokenization of real-world assets.
The Vision Protocol’s cross-chain capabilities facilitate seamless asset transfers across blockchains, potentially increasing liquidity and reducing fragmentation in the crypto market.
With decentralised governance, the ecosystem’s evolution is driven by its users, fostering transparency and aligning incentives between developers, investors, and the broader community.
Collaborations with high-profile sports entities aim to bridge the gap between traditional industries and Web3, introducing millions of fans to decentralised financial products and loyalty programs.
### Expert Perspective
Bitpanda’s Vision represents a strategic consolidation and expansion of its existing offerings into a unified, user-centric Web3 ecosystem. By merging utility, governance, and rewards into a single token (VSN), and by emphasising regulatory compliance and cross-chain interoperability, Bitpanda is positioning itself as a leader in the transition from centralised to decentralised finance.
The ecosystem’s focus on accessibility, security, and community governance could significantly influence how both retail and institutional participants engage with digital assets in the coming years. MiCA, the European regulatory framework for crypto assets, is a relevant step in this regard, but more is needed for a comprehensive rollout of Web3.
Banks across Europe are experimenting with blockchain bonds and working on stablecoin solutions to enable digital transactions without relying on speculative cryptocurrencies like Bitcoin. However, Bitpanda’s approach to Web 3.0 is more fundamental, as they aim to create an infrastructure with VSN and the associated Vision blockchain, on which other companies can set up Web3 applications.
Regulation still needs to progress for a comprehensive rollout of Web3, according to Lukas Enzersdorfer-Konrad, Bitpanda’s deputy CEO. Isabell Welpe, a renowned business professor from TU Munich, has warned that Web 3.0 could disrupt banks, insurers, and other financial firms due to its decentralised system.
[1] Bitpanda. (2023). Vision Ecosystem Whitepaper. Retrieved from https://www.bitpanda.com/vision/whitepaper [2] CoinDesk. (2023). Bitpanda Launches Vision Token and Web3 Ecosystem. Retrieved from https://www.coindesk.com/business/2023/03/01/bitpanda-launches-vision-token-and-web3-ecosystem/ [3] Decrypt. (2023). Bitpanda Unveils Vision Token and Web3 Ecosystem. Retrieved from https://decrypt.co/97275/bitpanda-unveils-vision-token-web3-ecosystem [4] Forbes. (2023). Bitpanda Partners with Paris Saint-Germain for Web3 Integration. Retrieved from https://www.forbes.com/sites/billybambrough/2023/02/28/bitpanda-partners-with-paris-saint-germain-for-web3-integration/?sh=6f5f56c77c46
- The Vision ecosystem, powered by the VSN token, is a bold step in business technology that aims to make finance more accessible to both retail and institutional investors, by combining user-friendly tools and self-custody wallets with broad cryptocurrency access and a focus on regulation compliance.
- The Vision Protocol, a crucial component of the Vision ecosystem, is a technological advancement that enables efficient asset transfers between different blockchain networks, thereby enhancing interoperability and user flexibility.
