- VeChain’s VeBetterDAO concluded its 12th voting round, allocating 67,000 B3TR tokens across seven decentralized applications with the participation of 2,200 community members.
- The platform prepares for its mainnet launch on June 28, 2024, introducing new governance features and a 12-year tokenomic structure to incentivize community engagement and fair decision-making.
VeChain’s journey towards enhancing its decentralized governance ecosystem has reached a significant milestone with the conclusion of the 12th round of voting on its VeBetterDAO platform. This marks a crucial step towards the mainnet launch scheduled later this year, showcasing the community’s growing involvement in shaping the project’s future.
Since the successful testnet launch, VeBetterDAO has been steadily gaining momentum. The latest round of voting saw an impressive 2,200 participants contributing to the allocation of 67,000 B3TR tokens across seven decentralized applications. This demonstrates a strong engagement from the community, setting a positive precedent for the platform’s future.
The mainnet launch, slated for June 28, 2024, promises to introduce several innovative features aimed at bolstering governance and incentivizing participation. Notably, there will be a full-scale emission of B3TR tokens over a 12-year period, with a weekly allocation to dApps and voters. This initiative aims to reward active community members and encourage sustained involvement in the governance process.
VeBetterDAO pulse check: Round 12 of the VeBetterDAO voting round has concluded!
— VeChain (@vechainofficial) May 27, 2024
Over 2,200 participants voted to allocate 67,000 B3TR tokens across seven decentralized applications.
Participate in the next round: https://t.co/r3CHxWFxce pic.twitter.com/uQTDge6lU8
Key to the new governance framework will be the introduction of quadratic funding and voting mechanisms, ensuring a fair and transparent decision-making process. A significant feature will be the Governance Proposals on the Treasury, allowing users to initiate proposals that will impact the future of VeBetterDAO. Proposals will require the endorsement of at least 2% of the circulating B3TR token supply before they can proceed to the voting stage, ensuring that only substantial proposals are considered.
“As we move towards the mainnet launch, the community can expect more details on how to initiate governance proposals,” said a VeChain representative. “This will enable our community to actively participate in shaping the future of VeBetterDAO.”
The journey towards mainnet deployment will progress with a final snapshot of all testnet activities on June 23, followed by the pause of the testnet from June 23 to June 28 for necessary preparations. During this period, users will be able to claim their testnet rewards and prepare for the transition to the VeChainThor mainnet.
From June 28 to June 30, users will be able to swap their testnet B3TR tokens for VOT3 tokens in preparation for the first round of voting on the mainnet starting July 1. The first rewards allocation for project owners and voters is scheduled for July 8, highlighting VeChain’s commitment to rewarding those who actively contribute to the ecosystem’s growth.
VeChain’s VeBetterDAO is poised to redefine decentralized governance, setting a new standard for community engagement and transparency in blockchain projects. With the mainnet launch on the horizon and a robust governance structure in place, the future looks promising for VeChain and its community.
Empowering Community Governance: VeChain’s VeBetterDAO Leading the Way
This article is based on information sourced from VeChain’s official announcements and details provided by project representatives. For the latest updates and further details on VeBetterDAO, please visit VeChain’s official website and community channels.
