The trouble with gas.

A little over a month after its original release, Vether met its first challenger: Ethereum's gas properties. Vether originally allowed for unpriced (often considered "worthless") ERC-20 tokens to be burned for Vether, but Blurr, a member of the Discord channel, pointed out that Chi Gastokens could be used to exploit Vether, making it possible to burn less ETH for a larger share of VETH.

Although this still would allow for burning, this would change Vether from a Proof-of-Value asset to a Proof-of-Work asset. The community discussed and came to a consensus to retain the Proof-of-Value property by moving to a token upgrade which would disable that function and hence avoid any future issues related to gas on Ethereum.

This upgrade was deployed soon afterwards on June 24, 2020.