- VeChain’s VeBetterDAO will officially be unveiled at the time of VeChainThor’s mainnet anniversary on June 30.
- The unveiling would be in three phases, and in the Go-Live Gala phase, several features and functions would be introduced.
Leading enterprise blockchain platform VeChain recently announced the introduction of VeBetterDAO, an ambitious Decentralized Autonomous Organization (DAO) as part of the plans to promote community engagement and drive sustainability initiatives. For effective implementation, two main tokens – VOT3 and B3TR were introduced. While VOT3 serves as a governance token by enabling holders to vote on proposals and earn rewards by staking, B3TR powers the entire DAO, improving innovation, incentivizing participation, and pushing for eco-friendly projects.
The release of the VeBetterDAO would be done in three phases as formerly reported by Crypto News Flash – Pilot Show Alpha: Testnet Take-off, Pilot Show Beta: Mainnet Blitz, and the Go-Live Gala. According to the whitepaper, the take-off within the Pilot Show Alpha began at the end of February with a defined quantity of B3TR tokens distributed through several activities including airdrop, community engagement, testnet activities, and seeding the initial users.
Users would also have the chance during the Alpha to play-test various functions to familiarize themselves with the launched versions. During this time, the development team would be able to introduce new features, address bugs, and get feedback. The B3TR Tokens earned during the Alpha period would be carried over to the mainnet.
More on the VeBetterDAO
For now, VeBetterDAO has not been officially launched. According to the team, the official launch would coincide with VeChainThor’s mainnet anniversary on June 30. During the Go-Live Gala phase, several features would be introduced including the minting and the distribution of the B3TR token, the ability to increase the maturity levels of the Galaxy Membership (GM) NFTs, Tools and functionality upgrades for X-2-Earn DApps, Token staking programs, Automation of Treasury and Governance management, etc.
According to an article published by Crypto News Flash, VeChain would utilize the B3TR token to incentivize sustainable actions. In the next few years, it seeks to achieve a million active daily users.
Imagine a world where millions of people are rewarded daily in B3TR for making the world a better place. As the ecosystem grows, new ways for users to spend and use their B3TR will emerge, bringing more adoption to VeChain. VeBetterDAO is a long-term play that plugs VeChain into a vital aspect of our ever-evolving world.
Under the VeBetterDAO Galaxy Member (GM) NFT System, the whitepaper explains that VeBetterDAO uses an upgradeable NFT system to determine the level of user privileges. In this case, a greater level would be subjected to greater rewards.
To upgrade the GM NFT, B3TR tokens would have to be donated to the Treasury. The donated assets would be used to support the growth of the ecosystem as stated in the Treasury Sections. At launch, VeChain X-Nodes and Economic Nodes would reportedly be eligible for higher rewards to recognize their role in the VeChainThor governance. It is also important to note that the GM levels would be unlocked progressively, and would need time for users to accumulate the needed B3TR for upgrades.
As of press time, VeChain was trading at $0.048729 after falling by 0.64% in the last 24 hours.
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