EOS Network Rebranding to Vaulta: Key Changes and What They Mean

EOS Network Rebrands to Vaulta – What’s Next for Web3?

EOS Network– The EOS Network, which launched in 2018 amid the ICO boom, has announced a rebrand to Vaulta, with a new direction focused on Web3 banking. The shift to Vaulta is set to happen by the end of May, bringing a new token and the formation of the Vaulta Banking Advisory Council to guide the company’s transition.

Vaulta’s rebranding includes the transition of the existing EOS token to the Vaulta Token. This new token will be available on nearly 140 exchanges where EOS is currently traded, with a swap portal set to launch in May. Further technical details and the token’s ticker will be unveiled at a later date. Vaulta will also continue to utilize the infrastructure established by EOS, including partnerships with exSat, Ceffu, Spirit Blockchain, and Blockchain Insurance Inc., to offer a suite of digital banking services through its BankingOS platform.

EOS’s Decline and Shift in Strategy

The rebranding marks a significant change for the EOS Network, which was initially launched with great expectations. EOS raised $4.1 billion in one of the largest ICOs in history, but its value has been steadily declining, with the project now ranked outside the top 90 by market cap, according to CoinGecko.

The decline of EOS has prompted debate on what went wrong. Some contributors to the network point to a lack of support and direction from Block.one, the company behind EOS. In 2019, Block.one settled with the SEC for $24 million, and the focus shifted from EOS to other projects, such as the social app-turned-NFT marketplace, Voice, and the crypto exchange Bullish.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.