The observation that the supply hasn't changed doesn't mean no one is using the token. When a VERI token is redeemed for services, it goes back into inventory which reduces (not increases) circulating supply. The only way for circulating supply to increase is for Reggie to sell inventory.

AFAIK, VeADIR is still in Beta and I believe that was due to regulatory uncertainty, esp for US users. However, plenty of people have purchased and redeemed physical precious metals and a couple dozen have purchased research reports with VERI.

Clearly, the consumption of VERI has been slow as the build-out of these products has been also while we all wait for regulatory certainty to proceed. It's always slower than we'd like. It seems to me that one thing missing is probably a marketing campaign to let the world know that these products are available, particular the metals program.

It appears that Reggie is putting his greatest effort into developing products for/with African national stock exchanges which is probably a good strategy as you have willing and open minded governments and smaller project scale to launch a trial project with. Once it's proven there it's easy to duplicate and expand. I'll admit though, I'm unclear of the role of the VERI token in any African exchange project although his videos seemed to indicate that he would be providing VeGold tokens for these exchanges to use in their exchanges or national economies somehow.