VeChain’s VeBetterDAO testnet is currently on pause as the team prepares for the upcoming mainnet launch. The team has announced that several new features will be introduced in the post-migration era, including a dApp listing validators mechanism.
Preparations for the mainnet launch of VeChain’s VeBetterDAO are still underway as the team completes the final round of voting on the testnet and manually claims the remaining testnet rewards. A final snapshot of all testnet activities has been taken in anticipation of the historic deployment of the VeChainThor mainnet on June 28.
With just three days left until the mainnet launch, VeChain has temporarily paused the VeBetterDAO testnet. This phase will last from June 23 to June 28. There is speculation that this pause could potentially push up the prices of VET and VTHO to new highs.
After the transition, several important dates are set to occur. On the day of the mainnet launch (June 28), the balances of the testnet tokens – B3TR, VOT3, and GM NFT – will appear on the VeChainThor mainnet. Following this upgrade, all tokens will be in the form of B3TR. This means that the total balances of testnet B3TR and testnet VOT3 will be equivalent to the mainnet B3TR balances. Holders of GM NFTs will also be able to access their tokens on the mainnet using the appropriate token ID.
The entire process, including voting rounds, reward allocations, and the mainnet transition, will continue until July 8. On this date, both project owners and voters will be able to claim their first reward allocations. Users are scheduled to swap their B3TR for VOT3 from June 28 to June 30, with the first round of mainnet voting set to commence on July 1.
VeChain has stated that they will continue to introduce new features, such as the dApp listing validators mechanism, in the post-migration era. They are committed to enhancing the VeBetterDAO platform and plan to introduce staking programs and the ability to unlock higher tiers of GM NFTs to earn additional rewards.
The mainnet launch of VeChain’s VeBetterDAO is expected to bring about significant changes in governance and incentivization. A full-scale emission of B3TR tokens and the start of the 12-year tokenomic structure are anticipated. Quadratic funding and voting mechanisms will be implemented to ensure a fair voting environment and prevent the dominance of large stakeholders, democratizing the voting process and creating a level playing field for all participants.
Another change to expect is the introduction of governance proposals on the Treasury, allowing users to participate via the VeBetterDAO governance dApp. To initiate and qualify for voting, proposals will require the endorsement of at least 2% of the circulating supply of B3TR tokens. Once this requirement is met, proposals will be posted to dedicated forums on VeBetterDAO.
In addition to these expected changes and the ongoing development of the mainnet launch, analysts predict a positive price reaction from VET and VTHO.
At the time of writing, VET is trading at $0.025, experiencing a 5.8% surge in the last 24 hours. VTHO is also trading at $0.0024, with an 8% increase in the last 24 hours.