- VeChain has launched a revamped GM NFT system with reduced upgrade costs, fairer rewards, and a new GM Rewards Pool for active voters.
- The update emphasizes participation over passive ownership, with higher B3TR donation requirements for new NFT tiers.
VeChain has officially launched a comprehensive upgrade to its GM NFT system following the community’s approval of the “Restoring the GM NFT System” proposal by Datab4Dishonor. This significant transformation comes after a one-month transition period, bringing substantial changes to the platform’s reward structure and user engagement.
Reduced Costs and Fairer Distribution
One of the standout changes in the GM NFT system is a 50% reduction in upgrade fees, making tier progress more accessible to users. Early donors who had previously invested B3TR in upgrades have been reimbursed for the difference, with the funds redirected to their future tier progression.
Additionally, the weekly emissions distribution has been revamped. The treasury’s share has been cut from 20% to 15%, with the remaining 5% directed to a newly created GM Rewards Pool. Only active voters with GM NFTs of Moon tier or higher are eligible for rewards from this pool.
Vote & Earn: Rewards Based on Participation
Under the new system, GM NFT rewards are now exclusively tied to voting activity. Participants earn rewards based on their NFT tier and the number of proposals they vote on within a cycle. Passive gains have been eliminated, ensuring that active contributors receive the most benefits.
Moreover, node holders still maintain the ability to redeem GM NFTs for free, but they must actively participate in voting to qualify for the GM Rewards Pool.
New Tier Timeline and Higher Donation Requirements
VeChain has also set a clear release timeline for new GM NFT tiers, with each tier requiring higher B3TR donations. The Jupiter tier is set to launch in May, requiring a 125,000 B3TR donation, while the top Galaxy tier will debut in December with a steep 12,500,000 B3TR requirement.
The GM NFT system overhaul marks a pivotal shift towards a more active and fair reward structure for the VET community, emphasizing participation over passive ownership.
About the Author
