- VeBetterDAO has received its first community proposal for an app to improve transparency in the distribution and use of B3TR tokens within the VeChain ecosystem.
- The proposal, submitted by a member named Dudoso, aims to mandate a tracker on all dApps to provide real-time insights into token distribution, enhancing accountability and user trust.
A Bold Step Towards Transparency
VeBetterDAO has marked a significant milestone with its first-ever community proposal, introducing an app aimed at enhancing transparency in the distribution and use of B3TR tokens within the VeChain ecosystem. This landmark proposal has already garnered the required 275,000 VOT3 tokens, enabling it to move to the voting stage in four days.
Barely three weeks since its mainnet launch, VeBetterDAO continues to make waves. As an ecosystem within the VeChain network, VeBetterDAO focuses on promoting sustainable actions and assets. It enables any app to tokenize its sustainable activities and reward users with B3TR tokens. The governance of VeBetterDAO lies entirely in the hands of its community, with proposals being the primary method for members to voice their opinions and influence decisions.
A Community-Driven Proposal
The inaugural proposal, submitted by a community member known as Dudoso, calls for mandatory integration of a transparent tracker across all dApps on VeBetterDAO. This tracker aims to provide real-time insights into B3TR token distribution, ensuring users and developers understand how tokens are allocated and used to foster sustainable practices.
History in the making!
— VeChain (@vechainofficial) July 17, 2024
The first VeBetterDAO proposal was submitted recently; an app that brings transparency to #B3TR token distributions from its dApps.
Want to see this realized? Head to https://t.co/8q0IZuR7Hl and make your vote heard.https://t.co/T0ZFrbSvdW
Dudoso emphasized the importance of transparency for the ecosystem’s sustainability. He stated, “To build a sustainable VeBetterDAO ecosystem, it is imperative that both dApps and users have a clear understanding of how B3TR tokens will be distributed and used to drive sustainable acts and maintain an equitable ecosystem.” The proposal outlines the need for the tracker to display the total number of B3TR tokens distributed, remaining tokens, and those set aside for future use. This level of transparency is expected to enhance accountability and allow users to choose dApps that best reward their efforts.
While the proposal has been met with enthusiasm, it also acknowledges potential risks. dApps could potentially misrepresent their token distribution. To counter this, Dudoso suggests requiring dApps to provide their VeChain wallet addresses, leveraging the publicly accessible and immutable nature of the VeChainThor network to prevent any concealment of actions.
Dudoso concluded, “By creating transparency between dApps and users, VeBetterDAO can become the hub for social and sustainable change. It is crucial that these measures are considered at these early stages to prevent either dApps or users from ‘gaming’ or taking advantage of the current system.”
With the proposal set to enter the voting stage soon, the 275,000 VOT3 tokens pledged by 67 users will be unlocked, allowing them to reclaim their tokens regardless of the proposal’s outcome. This move reflects the growing trend of VeChain platforms rapidly integrating into real-world use cases, from real estate and sustainable shopping to fan engagement and tokenization.
As VeChain’s VET trades at $0.03103, reflecting a 4.2% dip in the past day after a strong performance, the community-driven initiatives like VeBetterDAO’s proposal underscore the network’s potential for fostering transparency and sustainability in the blockchain space.
