Disclosure

Vision White Paper Update: Vision Chain, Gas Utility, and Sequencer Economics

Stefan Ecker, Florian Klein

• 3 min read
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Vision White Paper Update: Vision Chain, Gas Utility, and Sequencer Economics

As our ecosystem transitions from setup to active execution, our legal framework needs to move at the same speed as our technology.

In compliance with MiCAR, Bitpanda GmbH has notified the Austrian Financial Market Authority of a modified crypto-asset white paper for Vision (VSN) due to significant new factors which need to be disclosed. The modified white paper has been published on 24 August 2026 as Version 1.1 replacing the previously published version.

This update formally enshrines the progress, utility, and economic mechanics we’ve been building over the past year directly into our legal documentation.

What’s Changing: The Key Modifications

1. Vision Chain Architecture & L2 Deployment

  • Modified OP Stack Infrastructure: Formalizes the deployment of VSN on Vision Chain, an Ethereum Layer 2 network built using the OP Stack with certain bespoke modifications.
  • Disclosure of technical architecture: The white paper now describes the network's architecture, including the integration of a dedicated compliance module and an OP-Succinct (SP1) validity proof system.

2. Pay Gas in VSN

  • Pay Fees in VSN: Eligible users across both the Vision Wallet and the Bitpanda Broker platform will be able to use VSN to pay transaction (gas) fees on Vision Chain.
  • Frictionless Paymaster Rails: Gas settlement is handled via paymaster infrastructure that sponsors and settles underlying network transactions behind the scenes, keeping the end-user experience simple and smooth. Vision Chain is an Ethereum-based blockchain network with protocol-level gas fees denominated in ETH.

3. Vision Chain Economics

  • Protocol-funded buyback mechanism: 10% of net sequencer revenue attributable to the VISION web3 Foundation (“Foundation”) will automatically be directed via smart contracts toward periodic onchain open-market purchases of VSN.
  • Treasury Accumulation: Purchased VSN tokens are acquired and held in the Foundation treasury to support ongoing ecosystem operations and long-term expansion.
  • No Right or Entitlement: This mechanism does not constitute a distribution of revenue to holders, nor does it create any contractual right, entitlement, or claim against the Foundation or any other party.
  • Protocol Parameter: This 10% revenue allocation is managed as a protocol-level parameter on smart contracts operated by the Foundation and may be adjusted at the Foundation’s discretion.

4. Supply Mechanics & Emission Cuts

  • Emissions Halved to 2.5%: Formally records the outcome of our May 2026 governance vote, which slashed VSN's yearly token emission rate from ~5% down to 2.5%.
  • Quarterly Burn Cadence: Updates public legal disclosures surrounding supply reduction schedules and quarterly token burn operations.

5. Governance & Operational Transparency

  • Managing Conflicts of Interest: Field E.38 has been updated to outline pre-defined operational rules ensuring fair execution and market integrity during treasury buyback operations.
  • Corporate Disclosures: Reflects financial reporting through fiscal year 2025 alongside recent leadership updates, including the appointment of Vishal Sacheendran as President of the Foundation Board.

Why This Matters for the Community

Major legal disclosures represent a significant structural milestone. By codifying our gas payment utility, the vision chain economics, and supply reductions into our official white paper, we ensure every product feature we launch is built on a compliant, transparent foundation for the long haul.

The modified white paper has been published on 24 August 2026, and will be available via our official white paper portal: https://www.bitpanda.com/en/legal/vsn-white-paper as well as a dedicated page on vision.now

Thank you for building alongside us as we bring real-world utility to Vision Chain!

Important Information

This crypto-asset marketing communication has not been reviewed or approved by any competent authority in any EU Member State. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset marketing communication. 

Offeror Details:

Bitpanda GmbH
Stella-Klein-Löw-Weg 17, 1020 Vienna, Austria
Contact & Support: https://support.bitpanda.com
Telephone: (+43) 14 35 00 22
Email: support@bitpanda.com

Official Crypto-Asset White Paper:

The crypto-asset white paper for VSN and the previously published version are available at: https://www.bitpanda.com/en/legal/vsn-white-paper