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- VeChain has announced the successful testnet launch of VeBetterDAO, which has engaged 18,000 B3TR holders and over 4,000 active users, resulting in more than 232,000 transactions.
- VeChain will launch VeBetterDAO’s mainnet on June 28, 2024, introducing new governance features, increased rewards, and mechanisms like quadratic funding and voting to democratize the voting process.
VeChain has announced robust engagement and activity following the successful testnet launch of VeBetterDAO. The initiative has laid a strong foundation for the new ‘X-2-Earn’ decentralized application (dApp) ecosystem, generating a wealth of useful data. VeChain extended gratitude to all participants involved in governance, community education through Spaces and content, and dApp development.
In just three months, VeBetterDAO has attracted 18,000 B3TR holders and over 4,000 active users, resulting in more than 232,000 transactions. These early metrics underscore the potential of incentive-based, gamified applications to drive real-world impact. VeChain looks forward to expanding its user base and dApp offerings as it scales in the coming years, expressing appreciation for its active community’s contributions.
VeChain emphasized its commitment to supporting builders from various backgrounds, highlighting a robust support pipeline that includes grants up to $100,000, ongoing DAO assistance, BCG mentorship, and venture capital opportunities.
With numerous exciting X-2-Earn projects in development from both Web2 and Web3 sectors, VeChain calls on innovators to join in shaping the future of blockchain.
VeChain has announced the eagerly anticipated launch of VeBetterDAO’s mainnet, scheduled for June 28, 2024. This event represents a significant milestone not only in technological advancement but also in driving global sustainability efforts, empowering crypto communities, and promoting broader Web3 adoption.
The transition from testnet to mainnet will bring substantial improvements and innovations, underscoring VeChain’s commitment to leveraging blockchain technology for real-world impact. The mainnet debut will accelerate efforts in sustainability and community empowerment, marking a pivotal moment in the Web3 landscape.
VeBetterDAO Mainnet Launch to Introduce Enhanced Governance
VeChain has revealed details about the upcoming launch of VeBetterDAO’s mainnet, set for June 28, 2024. The mainnet will introduce new features aimed at enhancing governance and encouraging new forms of participation, as detailed in the VeBetterDAO whitepaper.
Increased Rewards
The mainnet launch will initiate the full-scale emission of B3TR tokens, marking the beginning of a 12-year tokenomic structure. Weekly allocations to dApps and voters will start with a 2 million B3TR pool, significantly increasing the rewards available to engaged community members.
Quadratic Funding and Voting
To create a fair voting environment and prevent large stakeholders from dominating, VeBetterDAO will implement quadratic funding and voting mechanisms. This approach will further help to democratize the voting process, ensuring it is equitable for all participants.
Governance Proposals on the Treasury
The new mainnet functionality will enable users to actively participate in Treasury proposals through the VeBetterDAO governance dApp. These proposals, which can cover a wide range of purposes, will help shape the growth and future of the VeBetterDAO ecosystem. To initiate a proposal, users must secure the endorsement of at least 2% of the circulating supply of B3TR tokens.
Once this threshold is met, the proposal will be posted on a dedicated forum on VeBetterDAO. Voters on these proposals will also be incentivized with additional rewards. More details on initiating governance proposals will be released closer to the mainnet launch.