VeChain (VET) is an enterprise-grade Layer 1 smart contract platform that leverages distributed governance and Internet of Things (IoT) technologies to streamline supply chain management and business processes. By providing a comprehensive view of organizational activities, VeChain enables greater market transparency and operational efficiency. The platform operates on a dual-token system: VET, which serves as the primary value-transfer token, and VeThor (VTHO), used to cover transaction fees and smart contract execution costs. This separation ensures stable and predictable transaction costs, facilitating seamless integration for businesses. VeChain's innovative approach has attracted partnerships with various industries, aiming to build a sustainable and scalable ecosystem for decentralized applications.