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VeChain’s VeBetterDAO mainnet launch is just a few days away, and analysts anticipate a price surge for VET and VTHO.
- The post-mainnet launch will introduce quadratic funding and voting mechanisms for a fair voting environment.
VeChain (VET) teases with the anticipated VeBetterDAO mainnet launch countdown as the historic milestone builds excitement among investors and developers.
Five days more to The HiVE Summit and VeBetterDAO mainnet launch!
Join us for a first-hand glimpse of a Web3 world running on VeChain. Register your place and hear insightful keynotes, new insights, and a little birdie tells us there will be epic merchhttps://t.co/nKkIahwxSG pic.twitter.com/0L3PQZqaFH— VeChain (@vechainofficial) June 24, 2024
With just a few days to go, the manual claim of the remaining testnet rewards has already been completed, and the final snapshot of all activities taken yesterday (June 23). As Crypto News Flash formerly reported, the VeBetterDAO testnet has been paused in preparation for the official deployment of the VeChainThor (VTHO) mainnet on June 28. On the same day, holders of testnet tokens B3TR, VOT3, and GM NFT could see the balances on the mainnet.
From June 28 to June 30, users could swap the mainnet B3TR for VOT3 to prepare for the first round of voting on July 1. Project owners and voters are also expected to receive their first rewards on July 8. After the launch is completed, new features, such as the dApp listing validator mechanism, will be introduced gradually.
The excitement doesn’t end at the mainnet! As outlined in the VeBetterDAO Whitepaper, we’re committed to continually enhancing the VeBetterDAO platform. Post-migration, we’ll introduce new features, including a dApp listing validator mechanism, staking programs, and the ability to unlock higher tiers of GM NFTs to earn even more rewards from participation.
Expected Introductions After the VeChain’s VeBetterDAO Mainnet Launch
Prior to the commencement of this whole process, VeBetterDAO had completed the 12th round of its voting exercise, with 2,200 people participating. The last round was finalized on June 16, pending the official transition to the mainnet.
According to our information, some of the new changes expected to be witnessed include improved governance and the incentivization of new forms of participation. Also, there will be a full-scale emission of B3TR on a 12-year tokenomic structure. With this happening, dApps and voters could access weekly allocation.
Quadratic funding and voting mechanisms would equally be introduced to enable a successful and fair voting environment. VeChain would also announce Governance Proposals on the Treasury to ensure that users participate in Treasury proposals through the VeBetterDAO governance dApp. However, proposals would have to receive an endorsement of at least 2% of the circulating supply of the B3TR tokens to qualify for voting.
Once the proposal reaches this threshold, the proposal will be posted to a dedicated forum on VeBetterDAO. Individuals who vote on these proposals will be incentivised through additional rewards. Details on how to initiate the governance proposals for VeBetterDAO will be released closer to the mainnet launch.
With the mainnet launch and the upcoming HiVe Summit coming up in a few days, analysts have hinted at a potential price surge for VET and VTHO. At press time, VET traded at $0.024 after declining by 5.9% in the last 24 hours.
VTHO was also struggling to sustain itself above a crucial support level, declining by 7.9% in the last 24 hours to trade at $0.0022.