The post VeChain Hayabusa Upgrade Shifts Toward Staking-Only Rewards and StarGate 2.0 Features appeared on BitcoinEthereumNews.com. The VeChain Hayabusa upgrade, launched on December 2, 2025, transitions the network to a staking-only rewards model, ending passive VTHO generation and activating StarGate 2.0 for enhanced delegation and validator tools. This prepares the VeChainThor mainnet for its first rewards cycle by December 9, boosting user participation and network efficiency. Staking-Only Rewards Model: The Hayabusa upgrade eliminates passive VTHO from VET holdings, requiring active staking with validators to earn rewards and tying user activity directly to network security. StarGate 2.0 Enhancements: This update introduces clearer data dashboards, Delegator NFTs for seamless delegation, and improved tools in VeWorld for monitoring stakes and APYs. Validator Preparation: Nodes now feature tiered structures starting at 10,000 VET, with new weighting rules and developer tools like EVM support to foster ecosystem growth, as per VeChain’s development roadmap. Discover how VeChain’s Hayabusa upgrade revolutionizes staking and rewards in 2025. Explore StarGate 2.0 features, validator tiers, and the shift to active participation for VTHO earnings. Stay ahead in blockchain—read now! What is the VeChain Hayabusa Upgrade? The VeChain Hayabusa upgrade represents a pivotal evolution in the VeChainThor blockchain, initiated on December 2, 2025, to enhance staking mechanisms and reward distribution. This update shifts the network from passive VTHO generation—previously earned simply by holding VET tokens—to an exclusively staking-based model, where rewards are contingent on active participation through validators. By integrating advanced tools and interfaces, Hayabusa aims to strengthen decentralization, improve user engagement, and align incentives with long-term network health, marking the beginning of a transition phase that culminates in the first full rewards cycle on December 9, 2025. The upgrade’s core objective is to foster a more dynamic ecosystem. Validators, who are essential nodes maintaining the blockchain, now play a central role in reward allocation. Users must delegate their stakes via the updated StarGate platform to qualify… The post VeChain Hayabusa Upgrade Shifts Toward Staking-Only Rewards and StarGate 2.0 Features appeared on BitcoinEthereumNews.com. The VeChain Hayabusa upgrade, launched on December 2, 2025, transitions the network to a staking-only rewards model, ending passive VTHO generation and activating StarGate 2.0 for enhanced delegation and validator tools. This prepares the VeChainThor mainnet for its first rewards cycle by December 9, boosting user participation and network efficiency. Staking-Only Rewards Model: The Hayabusa upgrade eliminates passive VTHO from VET holdings, requiring active staking with validators to earn rewards and tying user activity directly to network security. StarGate 2.0 Enhancements: This update introduces clearer data dashboards, Delegator NFTs for seamless delegation, and improved tools in VeWorld for monitoring stakes and APYs. Validator Preparation: Nodes now feature tiered structures starting at 10,000 VET, with new weighting rules and developer tools like EVM support to foster ecosystem growth, as per VeChain’s development roadmap. Discover how VeChain’s Hayabusa upgrade revolutionizes staking and rewards in 2025. Explore StarGate 2.0 features, validator tiers, and the shift to active participation for VTHO earnings. Stay ahead in blockchain—read now! What is the VeChain Hayabusa Upgrade? The VeChain Hayabusa upgrade represents a pivotal evolution in the VeChainThor blockchain, initiated on December 2, 2025, to enhance staking mechanisms and reward distribution. This update shifts the network from passive VTHO generation—previously earned simply by holding VET tokens—to an exclusively staking-based model, where rewards are contingent on active participation through validators. By integrating advanced tools and interfaces, Hayabusa aims to strengthen decentralization, improve user engagement, and align incentives with long-term network health, marking the beginning of a transition phase that culminates in the first full rewards cycle on December 9, 2025. The upgrade’s core objective is to foster a more dynamic ecosystem. Validators, who are essential nodes maintaining the blockchain, now play a central role in reward allocation. Users must delegate their stakes via the updated StarGate platform to qualify…

VeChain Hayabusa Upgrade Shifts Toward Staking-Only Rewards and StarGate 2.0 Features

2025/12/05 05:11
  • Staking-Only Rewards Model: The Hayabusa upgrade eliminates passive VTHO from VET holdings, requiring active staking with validators to earn rewards and tying user activity directly to network security.

  • StarGate 2.0 Enhancements: This update introduces clearer data dashboards, Delegator NFTs for seamless delegation, and improved tools in VeWorld for monitoring stakes and APYs.

  • Validator Preparation: Nodes now feature tiered structures starting at 10,000 VET, with new weighting rules and developer tools like EVM support to foster ecosystem growth, as per VeChain’s development roadmap.

Discover how VeChain’s Hayabusa upgrade revolutionizes staking and rewards in 2025. Explore StarGate 2.0 features, validator tiers, and the shift to active participation for VTHO earnings. Stay ahead in blockchain—read now!

What is the VeChain Hayabusa Upgrade?

The VeChain Hayabusa upgrade represents a pivotal evolution in the VeChainThor blockchain, initiated on December 2, 2025, to enhance staking mechanisms and reward distribution. This update shifts the network from passive VTHO generation—previously earned simply by holding VET tokens—to an exclusively staking-based model, where rewards are contingent on active participation through validators. By integrating advanced tools and interfaces, Hayabusa aims to strengthen decentralization, improve user engagement, and align incentives with long-term network health, marking the beginning of a transition phase that culminates in the first full rewards cycle on December 9, 2025.

The upgrade’s core objective is to foster a more dynamic ecosystem. Validators, who are essential nodes maintaining the blockchain, now play a central role in reward allocation. Users must delegate their stakes via the updated StarGate platform to qualify for VTHO, creating a symbiotic relationship between holders and network operators. This change, as outlined in VeChain’s official technical documentation, ensures that rewards reflect genuine contributions to consensus and security, potentially increasing the overall resilience of the VeChainThor mainnet against centralization risks.

How Does StarGate 2.0 Improve Staking and Delegation?

StarGate 2.0, a key component of the Hayabusa upgrade, overhauls the user interface and functionality for staking and delegation on VeChain. It introduces Delegator NFTs, which allow users to easily assign their VET stakes to selected validators without complex transactions. According to VeChain’s development team, this system provides real-time visibility into staking metrics, such as total VET collateralized, distributed VTHO, and annual percentage yields (APYs) for both nodes and NFTs, accessible directly through the VeWorld wallet’s Earn tab.

The platform’s redesigned dashboard simplifies the delegation process: users create a Delegator NFT in the Earn section and link it to a validator of choice, ensuring rewards are pooled and distributed efficiently. This enhances transparency, as live validator lists and upcoming bio pages will offer detailed performance data, including uptime and contribution metrics. StarGate 2.0 also supports broader participation by lowering entry barriers, with data from VeChain’s internal audits showing a projected 20-30% increase in active delegators post-upgrade. Expert analysts, such as those from blockchain research firm Chainalysis, have noted that such interfaces could drive adoption by making enterprise-grade blockchain tools more accessible to retail users, ultimately supporting VeChain’s goal of scalable, real-world applications in supply chain and sustainability tracking.

Furthermore, the update addresses previous pain points in reward claiming. For instance, users with pending rewards from the pre-StarGate era receive automatic payouts, eliminating manual interventions during the transition. This seamless migration underscores VeChain’s commitment to user-friendly upgrades, as highlighted in statements from Sunny Lu, VeChain’s founder, who emphasized the need for intuitive tools to bridge Web3 participation gaps.

Frequently Asked Questions

What Changes Does the Hayabusa Upgrade Bring to VTHO Rewards?

The Hayabusa upgrade fundamentally alters VTHO rewards by ending passive generation from VET holdings and mandating staking with validators for eligibility. This staking-only model links rewards to active network contributions, such as block validation, with the first cycle concluding on December 9, 2025. Users delegating via StarGate 2.0 will see rewards based on validator performance and stake weight, promoting a more secure and engaged VeChainThor ecosystem.

Is the VeChain Hayabusa Upgrade Compatible with Existing Wallets?

Yes, the VeChain Hayabusa upgrade is fully compatible with popular wallets like VeWorld, ensuring a smooth experience for staking and delegation. Through the updated Earn tab, users can monitor APYs, create Delegator NFTs, and track validator activities in real-time. This integration maintains backward compatibility while introducing enhanced features, making it easy for both new and existing participants to engage without disruptions.

Key Takeaways

  • Shift to Staking-Only Rewards: Passive VTHO earnings are discontinued, requiring users to stake VET with validators to participate in the new model and earn based on network activity.
  • StarGate 2.0 Advancements: The upgrade delivers intuitive tools, Delegator NFTs, and transparent dashboards, improving delegation efficiency and user oversight of rewards.
  • Validator and Developer Ecosystem Boost: Tiered nodes starting at 10,000 VET, combined with EVM-compatible tools and grants, encourage broader involvement and innovation on VeChainThor.

Conclusion

The VeChain Hayabusa upgrade marks a strategic pivot toward a more participatory and efficient blockchain, with its staking-only rewards model and StarGate 2.0 enhancements at the forefront. By tying VTHO distribution to validator activity and user delegation, VeChain reinforces its position as a leader in enterprise blockchain solutions. As the first rewards cycle approaches on December 9, 2025, stakeholders are encouraged to explore staking options to capitalize on these developments, paving the way for sustained growth and innovation in the VeChain ecosystem.

Building on this foundation, the upgrade also integrates developer-centric features like Hardhat support and JSON-RPC enhancements, enabling seamless EVM interactions. VeChain’s VeBetter initiative, which provides grants for dApp development, aligns perfectly with Hayabusa’s goals, as evidenced by recent project announcements. Industry observers, including reports from Deloitte’s blockchain insights, praise such updates for enhancing scalability in supply chain applications, where VeChain has already secured partnerships with global firms.

During the transition phase, validators are onboarding to harvest initial blocks and populate reward pools, ensuring a stable rollout. The tiered node structure—ranging from Dawn Economic Nodes at 10,000 VET to higher authority levels—democratizes access, with updated weighting rules that factor in delegation volume and performance. This multifaceted approach not only incentivizes high-quality validation but also supports VeChain’s dual-token economy, where VET serves as collateral and VTHO fuels transactions.

Looking ahead, the Hayabusa upgrade positions VeChainThor for increased adoption in sectors like logistics and carbon tracking. By eliminating passive rewards, the network discourages hoarding and promotes circulation, potentially stabilizing VET’s value over time. Participants are advised to review validator bios—soon to be available on StarGate—for informed delegation choices, maximizing returns in this evolving landscape.

Source: https://en.coinotag.com/vechain-hayabusa-upgrade-shifts-toward-staking-only-rewards-and-stargate-2-0-features

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Wang Yongli, former vice president of the Bank of China: Why did China resolutely halt stablecoins?

Wang Yongli, former vice president of the Bank of China: Why did China resolutely halt stablecoins?

Written by: Wang Yongli , former Vice President of Bank of China China's policy orientation of accelerating the development of the digital yuan and resolutely curbing virtual currencies, including stablecoins, is now fully clear. This is based on a comprehensive consideration of factors such as China's leading global advantages in mobile payments and the digital yuan, the sovereignty and security of the yuan, and the stability of the monetary and financial system. Since May 2025, the United States and Hong Kong have been racing to advance stablecoin legislation, which has led to a surge in global legislation on stablecoins and crypto assets (also known as "cryptocurrencies" or "virtual currencies"). A large number of institutions and capital are flocking to issue stablecoins and invest in crypto assets, which has also sparked heated debate on whether China should fully promote stablecoin legislation and the development of RMB stablecoins (including offshore ones). Furthermore, after the United States legislated to prohibit the Federal Reserve from issuing digital dollars, whether China should continue to promote digital RMB has also become a hot topic of debate. For China, this involves the direction and path of national currency development. With the global spread of stablecoins and the increasingly acute and complex international relations and fiercer international currency competition, this has a huge and far-reaching impact on how the RMB innovates and develops, safeguards national security, and achieves the strategic goals of a strong currency and a financial power. We must calmly analyze, accurately grasp, and make decisions early. We cannot be indifferent or hesitant, nor can we blindly follow the trend and make directional and subversive mistakes. Subsequently, the People's Bank of China announced that it would optimize the positioning of the digital yuan within the monetary hierarchy (adjusting the previously determined M0 positioning. This is a point I have repeatedly advocated from the beginning; see Wang Yongli's WeChat public account article "Digital Yuan Should Not Be Positioned as M0" dated January 6, 2021), further optimize the digital yuan management system (establishing an international digital yuan operations center in Shanghai, responsible for cross-border cooperation and use of the digital yuan; and establishing a digital yuan operations management center in Beijing, responsible for the construction, operation, and maintenance of the digital yuan system), and promote and accelerate the development of the digital yuan . On November 28, the People's Bank of China and 13 other departments jointly convened a meeting of the coordination mechanism for combating virtual currency trading and speculation. The meeting pointed out that due to various factors, virtual currency speculation has recently resurfaced, and related illegal and criminal activities have occurred frequently, posing new challenges to risk prevention and control. It emphasized that all units should deepen coordination and cooperation, continue to adhere to the prohibitive policy on virtual currencies, and persistently crack down on illegal financial activities related to virtual currencies. It clarified that stablecoins are a form of virtual currency , and their issuance and trading activities are also illegal and subject to crackdown. This has greatly disappointed those who believed that China would promote the development of RMB stablecoins and correspondingly relax the ban on virtual currency (crypto asset) trading. Therefore, China's policy orientation of accelerating the development of the digital yuan and resolutely curbing virtual currencies, including stablecoins, is now fully clear . Of course, this policy orientation remains highly debated both domestically and internationally, and there is no consensus among the public. So, how should we view this major policy direction of China? This article will first answer why China resolutely halted stablecoins; how to accelerate the innovative development of the digital yuan will be discussed in another article . There is little room or opportunity for the development of non-USD stablecoins. Since Tether launched USDT, a stablecoin pegged to the US dollar, in 2014 , USD stablecoins have been operating for over a decade and have formed a complete international operating system. They have basically dominated the entire crypto asset trading market, accounting for over 99% of the global fiat stablecoin market capitalization and trading volume . This situation arises from two main factors. First, the US dollar is the most liquid and has the most comprehensive supporting system of international central currencies, making stablecoins pegged to the dollar the easiest to accept globally. Second, it is also a result of the US's long-standing tolerant policy towards crypto assets like Bitcoin and dollar-denominated stablecoins, rather than leading the international community to strengthen necessary regulation and safeguard the fundamental interests of all humanity. Even this year, when the US pushed for legislation on stablecoins and crypto assets, it was largely driven by the belief that dollar-denominated stablecoins would increase global demand for the dollar and dollar-denominated assets such as US Treasury bonds, reduce the financing costs for the US government and society, and strengthen the dollar's international dominance. This was a choice made to enhance US support for dollar-denominated stablecoins and control their potential impact on the US, prioritizing the maximization of national interests while giving little consideration to mitigating the international risks of stablecoins. With the US strongly promoting dollar-denominated stablecoins, other countries or regions launching non-dollar fiat currency stablecoins will find it difficult to compete with dollar-denominated stablecoins on an international level, except perhaps within their own sovereign territory or on the issuing institution's own e-commerce platform. Their development potential and practical significance are limited . Lacking a strong ecosystem and application scenarios, and lacking distinct characteristics compared to dollar-denominated stablecoins, as well as the advantage of attracting traders and transaction volume, the return on investment for issuing non-dollar fiat currency stablecoins is unlikely to meet expectations, and they will struggle to survive in an environment of increasingly stringent legislation and regulation in various countries. The legislation on stablecoins in the United States still faces many problems and challenges. Following President Trump's second election victory, his strong advocacy for crypto assets such as Bitcoin fueled a new international frenzy in cryptocurrency trading, driving the rapid development of dollar-denominated stablecoin trading and a surge in stablecoin market capitalization. This not only increased demand for the US dollar and US Treasury bonds, strengthening the dollar's international status, but also brought huge profits to the Trump family and their cryptocurrency associates. However, this also posed new challenges to the global monitoring of the dollar's circulation and the stability of the traditional US financial system. Furthermore, the trading and transfer of crypto assets backed by dollar-denominated stablecoins has become a new and more difficult-to-prevent tool for the US to harvest global wealth, posing a serious threat to the monetary sovereignty and wealth security of other countries . This is why the United States has accelerated legislation on stablecoins, but its legislation is more about prioritizing America and maximizing American and even group interests, at the expense of the interests of other countries and the common interests of the world. After the legislation on US dollar stablecoins came into effect, institutions that have not obtained approval and operating licenses from US regulators will find it difficult to issue and operate US dollar stablecoins in the United States (for this reason, Tether has announced that it will apply for US-issued USDT). Stablecoin issuers subject to US regulation must meet regulatory requirements such as Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter-Terrorist Financing (FTC). They must be able to screen customers against government watchlists and report suspicious activities to regulators. Their systems must have the ability to freeze or intercept specific stablecoins when ordered by law enforcement agencies. Stablecoin issuers must have reserves of no less than 100% US dollar assets (including currency assets, short-term Treasury bonds, and repurchase agreements backed by Treasury bonds) approved by regulators, and must keep US customer funds in US banks and not transfer them overseas. They are prohibited from paying interest or returns on stablecoins, and strict control must be exercised over-issuance and self-operation. Reserve assets must be held in custody by an independent institution approved by regulators and must be audited by an auditing firm at least monthly and an audit report must be issued. This will greatly enhance the value stability of stablecoins relative to the US dollar, strengthen their payment function and compliance, while weakening their investment attributes and illegal use; it will also significantly increase the regulatory costs of stablecoins, thereby reducing their potential for exorbitant profits in an unregulated environment. The US stablecoin legislation officially took effect on July 18, but it still faces numerous challenges : While it stipulates the scope of reserve assets for stablecoin issuance (bank deposits, short-term Treasury bonds, repurchase agreements backed by Treasury bonds, etc.), since it primarily includes Treasury bonds with fluctuating trading prices, even if reserve assets are sufficient at the time of issuance, a subsequent decline in Treasury bond prices could lead to insufficient reserves; if the reserve asset structures of different issuing institutions are not entirely consistent, and there is no central bank guarantee, it means that the issued dollar stablecoins will not be the same, creating arbitrage opportunities and posing challenges to relevant regulation and market stability; even if there is no over-issuance of stablecoins at the time of issuance, allowing decentralized finance (DeFi) to engage in stablecoin lending could still lead to stablecoin derivation and over-issuance, unless it is entirely a matchmaking between lenders and borrowers rather than proprietary trading; getting stablecoin issuers outside of financial institutions to meet regulatory requirements is not easy, and regulation also presents significant challenges. More importantly, the earliest and most fundamental requirement for stablecoins is the borderless, decentralized, 24/7 pricing and settlement of crypto assets on the blockchain. It is precisely because crypto assets like Bitcoin cannot fulfill the fundamental requirement of currency as a measure of value and a value token—that the total amount of currency must change in line with the total value of tradable wealth requiring monetary pricing and settlement—that their price relative to fiat currency fluctuates wildly (therefore, using crypto assets like Bitcoin as collateral or strategic reserves carries significant risks), making it difficult to become a true circulating currency. This has led to the development of fiat stablecoins pegged to fiat currencies. (Therefore, Bitcoin and similar crypto assets can only be considered crypto assets; calling them "cryptocurrency" or "virtual currency" is inaccurate; translating the English word "Token" as "币" or "币" is also inappropriate; it should be directly transliterated as "通证" and clearly defined as an asset, not currency.) The emergence and development of fiat-backed stablecoins have brought fiat currencies and more real-world assets (RWAs) onto the blockchain, strongly supporting on-chain cryptocurrency trading and development. They serve as a channel connecting the on-chain cryptocurrency world with the off-chain real-world, thereby strengthening the integration and influence of the cryptocurrency world on the real world. This will significantly enhance the scope, speed, scale, and volatility of global wealth financialization and financial transactions, accelerating the transfer and concentration of global wealth in a few countries or groups. In this context, failing to strengthen global joint regulation of stablecoins and cryptocurrency issuance and trading poses extremely high risks and dangers . Therefore, the surge in stablecoin and cryptocurrency development driven by the Trump administration in the United States has already revealed a huge bubble and potential risks, making it unsustainable. The international community must be highly vigilant about this! Stablecoin legislation could severely backfire on stablecoins. One unexpected outcome of stablecoin legislation is that the inclusion of fiat-backed stablecoins in legislative regulation will inevitably lead to legislative regulation of crypto asset transactions denominated and settled using fiat-backed stablecoins, including blockchain-generated assets such as Bitcoin and on-chain real-world assets (RWA). This will have a profound impact on stablecoins. Before crypto assets receive legislative regulation and compliance protection, licensed financial institutions such as banks find it difficult to directly participate in crypto asset trading, clearing, custody, and other related activities, thus ceding opportunities to private organizations outside of financial institutions. Due to the lack of regulation and the absence of regulatory costs, existing stablecoin issuers and crypto asset trading platforms have become highly profitable and attractive entities, exerting an increasing impact on banks and the financial system, forcing governments and monetary authorities in countries like the United States to accelerate legislative regulation of stablecoins. However, once crypto assets receive legislative regulation and compliance protection, banks and other financial institutions will undoubtedly participate fully. Payment institutions such as banks can directly promote the on-chain operation of fiat currency deposits (deposit tokenization), completely replacing stablecoins as a new channel and hub connecting the crypto world and the real world . Similarly, existing stock, bond, money market fund, and ETF exchanges can promote the on-chain trading of these relatively standardized financial products through RWA (Real-Time Asset Exchange). Having adequately regulated financial institutions such as banks act as the main entities connecting the crypto world and the real world on the blockchain is more conducive to implementing current legislative requirements for stablecoins, upholding the principle of "equal regulation for the same business" for all institutions, and reducing the impact and risks of crypto asset development on the existing monetary and financial system. This trend has already emerged in the United States and is rapidly intensifying, proving difficult to stop . Therefore, stablecoin legislation may seriously backfire on or subvert stablecoins ( see Wang Yongli's WeChat public account article "Stablecoin Legislation May Seriously Backfire on Stablecoins" on September 3, 2025 ). In this situation, it is not a reasonable choice for other countries to follow the US lead and vigorously promote stablecoin legislation and development. China should not follow the path of stablecoins taken by the United States. China already has a leading global advantage in mobile payments and the digital yuan. Promoting a stablecoin for the yuan has no advantage domestically, and it will have little room for development and influence internationally. It should not follow the path of the US dollar stablecoin, but should instead focus on promoting the development of stablecoins for the yuan, both domestically and offshore. More importantly, crypto assets and stablecoins like Bitcoin can achieve 24/7 global trading and clearing through borderless blockchains and crypto asset trading platforms. While this significantly improves efficiency, the highly anonymous and high-frequency global flow, lacking coordinated international oversight, makes it difficult to meet regulatory requirements such as KYC, AML, and FTC. This poses a clear risk and has been demonstrated in real-world cases of being used for money laundering, fundraising fraud, and illegal cross-border fund transfers. Given that US dollar stablecoins already dominate the crypto asset trading market, and the US has greater control or influence over major global blockchain operating systems, crypto asset trading platforms, and the exchange rate between crypto assets and the US dollar (as evidenced by the US's ability to trace, identify, freeze, and confiscate the crypto asset accounts of some institutions and individuals, and to punish or even arrest some crypto asset trading platforms and their leaders), China's development of a RMB stablecoin following the path of US dollar stablecoins not only fails to challenge the international status of US dollar stablecoins but may even turn the RMB stablecoin into a vassal of US dollar stablecoins. This could impact national tax collection, foreign exchange management, and cross-border capital flows, posing a serious threat to the sovereignty and security of the RMB and the stability of the monetary and financial system. Faced with a more acute and complex international situation, China should prioritize national security and exercise high vigilance and strict control over the trading and speculation of crypto assets, including stablecoins, rather than simply pursuing increased efficiency and reduced costs . It is necessary to accelerate the improvement of relevant regulatory policies and legal frameworks, focus on key links such as information flow and capital flow, strengthen information sharing among relevant departments, further enhance monitoring and tracking capabilities, and severely crack down on illegal and criminal activities involving crypto assets. Of course, while resolutely halting stablecoins and cracking down on virtual currency trading and speculation, we must also accelerate the innovative development and widespread application of the digital yuan at home and abroad, establish the international leading advantage of the digital yuan, forge a Chinese path for the development of digital currency, and actively explore the establishment of a fair, reasonable and secure new international monetary and financial system . Taking into account the above factors, it is not difficult to understand why China has chosen to resolutely curb virtual currencies, including stablecoins, while firmly promoting and accelerating the development of the digital yuan.
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PANews2025/12/06 15:08