#Vaulta
The EOS network, known for its historic ICO of $4.1 billion in 2018, has changed its name to *Vaulta*. This rebranding marks a significant shift towards Web3 banking, aiming to offer innovative financial services.
*Key details of the change:*
- *New focus*: Vaulta will focus on Web3 banking, offering financial services through partnerships with companies like Ceffu, Spirit Blockchain, and Blockchain Insurance Inc.
- *New token*: The EOS token will be replaced by the Vaulta Token, which will be available on nearly 140 exchanges and through a trading portal in May.
- *Advisory council*: The Vaulta Banking Advisory Council has been created, a group of financial and blockchain experts who will help guide the company's direction.
- *Infrastructure*: Vaulta will inherit the underlying infrastructure of the EOS network, including integration with Bitcoin's digital banking solution, exSat.
*Impact and outlook:*
- The name change and focus have generated mixed opinions in the crypto community; some see it as a positive step toward innovation while others believe it is an attempt to revive a declining project.
- The price of EOS has been in constant decline and currently ranks 95th among cryptocurrencies according to CoinGecko
