- VeChain’s VeBetterDAO is set for its mainnet launch on June 28, 2024, following a successful testnet phase with over 18,000 B3TR holders and 4,000 active users, generating 232,000 transactions.
- The mainnet will feature increased B3TR rewards, fair governance through quadratic voting, and direct user influence via proposal submissions, aiming to foster a vibrant and engaged blockchain community.
VeChain’s VeBetterDAO, a pioneering platform aimed at accelerating Web3 adoption and empowering crypto communities, is on the verge of its eagerly awaited mainnet launch scheduled for June 28, 2024. After a remarkably successful testnet phase characterized by impressive engagement and activity, VeBetterDAO is set to make a transformative impact on the blockchain landscape.
Building Momentum: Testnet Success and Community Engagement
During its testnet phase, VeBetterDAO attracted over 18,000 B3TR holders and 4,000 active users, generating a significant amount of data and fostering a vibrant community. These early adopters facilitated over 232,000 transactions, demonstrating the platform’s potential to drive real-world change through its incentive-based, gamified applications.
VeChain recognizes the crucial role of builders in achieving its vision and offers a robust support system to empower them. This includes grants of up to $100,000, ongoing DAO support, mentorship opportunities, and potential venture capital connections. With an exciting lineup of X-2-Earn projects in the pipeline, VeChain invites builders from both Web2 and Web3 backgrounds to collaborate and shape the future of blockchain technology.
To ensure a smooth transition to the mainnet, VeChain has outlined a clear roadmap with important dates and steps:
- June 16: Final testnet voting round concludes, marking the end of the testnet phase.
- June 17-22: Final window for users to claim any remaining testnet rewards. Unclaimed rewards will be automatically distributed after this period.
- June 23 (00:00 UTC): A final snapshot of all testnet token activity is taken.
- June 23-28: VeBetterDAO testnet is paused in preparation for deployment on the VeChainThor mainnet.
- June 28: Testnet token holders will see their B3TR, VOT3, and GM NFT balances reflected on the VeChainThor mainnet.
- June 28-30: Users encouraged to swap mainnet B3TR for VOT3 to participate in the first mainnet voting round, starting on June 30th (VeChainThor’s birthday).
- July 1 (00:00 UTC): First round of mainnet voting commences.
- July 8: First rewards allocation for both project owners and voters becomes claimable.
Mainnet Enhancements: Increased Rewards, Fair Governance, and More
VeBetterDAO aims to foster a vibrant and engaged community through its mainnet features. The platform will significantly increase B3TR rewards, with a dedicated weekly pool of 2 million tokens to incentivize both dApp development and active voter participation. Quadratic funding and voting will ensure a fair and balanced voting system, preventing large token holders from wielding disproportionate power.
Users will have a direct influence on the platform’s direction by submitting proposals through the VeBetterDAO governance dApp. These proposals require community backing, needing endorsement from at least 2% of the circulating B3TR supply to reach a vote.
Following the mainnet launch, VeChain plans to introduce additional features, such as a dApp listing validator mechanism, staking programs, and higher tiers for GM NFTs with enhanced rewards. The team also promises to continue forging partnerships, integrating new features, and onboarding new dApps and businesses to expand VeBetterDAO’s global reach and influence.
To celebrate the mainnet launch and encourage further innovation, VeChain will host the HiVe 2.0 summit in San Francisco later in June. This event will coincide with a co-branded hackathon organized by EasyA and BCG.
June 28th, 2024 – save the date!
— VeChain (@vechainofficial) May 28, 2024
We’re excited to announce the return of The HiVe Summit 🔥 Get ready to witness the future of Web3 adoption & sustainability as we explore how #VeChain is spearheading mainstream adoption of revolutionary tech.
Be sure to join us as we celebrate… pic.twitter.com/7K4bt24Nxv
The launch of VeBetterDAO underscores VeChain’s unwavering commitment to driving blockchain adoption and fostering a more engaged and empowered crypto community. With its focus on collaborative development and impactful applications, VeBetterDAO is poised to play a significant role in shaping the future of Web3.