V-One Explained: Why Homelander Wants The Original Supe Formula On The Boys

This post contains spoilers for "The Boys" season 5, episode 3.

Three episodes in, the fifth and final season of "The Boys" has already descended into chaos. With Homelander (Antony Starr) pushing the limits of his megalomania, Vought-controlled America is under a terrifying fascist regime. To make matters worse, Billy Butcher (Karl Urban) is testing out the supe-killing virus that was introduced as a key plot point in "Gen V," which has already killed two supes from the Teenage Kix. Soldier Boy (Jensen Ackles) also seemed to have died after exhibiting fatal symptoms of viral infection, but we see him sit right back up at the end of episode 2.

Episode 3 deals with the aftermath of this shocking revelation, as Soldier Boy's survival proves that Butcher's supe virus isn't as foolproof as we thought. To everyone's dismay, Mother's Milk (Laz Alonso) points out that Soldier Boy is immune to the virus for some reason. Sure enough, Vought's lab reports reveal that Soldier Boy survived because he was injected with the earliest prototype of Compound V back when Frederick Vought made the first successful batch of the drug. 

Named V-One, this drug was revealed in the season 2 finale of "Gen V," which set up season 5 of "The Boys." What we learned in "Gen V" is quickly reiterated: V-One is an extraordinarily potent formula that killed thousands of test subjects, except a select few who were able to adapt. These survivors can be considered biologically immortal, which explains why Soldier Boy hasn't aged at all.

This troubling information prompts Homelander to launch a search for V-One, as his delusions of grandeur have convinced him that he's destined to be invulnerable. It's a last-ditch attempt of a pathetic, insecure man to prove to the world that he's worthy of their adulation. 

Homelander's crash-outs have reached a breaking point in season 5. The primary catalyst is A-Train (Jessie T. Usher), who Homelander murders in a fit of rage. This death evokes complicated feelings in Homelander, who, as expected, blames the departed for being ungrateful and taking advantage of his benevolence. Despite being responsible for, well, everything, Homelander feeds his massive ego with self-pity and paranoia, which only intensifies after he thinks that Soldier Boy died because of him.

Homelander's bottomless hunger for validation feels thwarted at every turn after Vought's hostile takeover. Although he has hordes of supporters, their loyalty is fueled purely by fear, especially after the release of the Flight 37 video. Also, Soldier Boy is still repulsed by the fact that Homelander is his son, adding literal insult to injury whenever Homelander tries to seek emotional validation from him. Heck, things are so dire that he hallucinates Madelyn Stillwell (Elisabeth Shue) as an angel urging him to claim godhood. The V-One reveal acts like a lit matchstick to gasoline, fueling Homelander's obsessive need to hunt it down before Butcher's crew does.

Butcher and co. don't have the means to create more vials of the supe-killing virus after Dr. Sameer (Omid Abtahi) leaves and destroys most of the research. Even so, V-One has become a ray of hope and could serve as a potential antidote once the virus is perfected again. The only lead lies with former Vought CEO Stan Edgar (Giancarlo Esposito), who is forced to work for Homelander at the end of the episode. Will our boys be able to race to the top-secret location that houses the V-One formula before Vought does? Only time will tell.

"The Boys" is streaming on Prime Video.