VeChain has unveiled a groundbreaking platform called VeBetterDAO that aims to promote sustainability and foster the growth of its ecosystem. The platform, which was developed in collaboration with the Boston Consulting Group, is an evolution of the Web3 for Better whitepaper.
This exciting announcement was made during the ongoing Mobile World Congress 2024, delivering on VeChain’s promise to its community. VeBetterDAO is designed to engage, incentivize, and reward user activity in order to onboard enterprises and individuals who are committed to promoting sustainability.
The platform is the result of extensive ideation, discussion, and development with technical teams and enterprise partners, following the co-authorship of the Web3 for Better whitepaper with Boston Consulting Group. VeChain’s collaboration with BCG has been focused on utilizing blockchain technology to drive sustainability, with joint efforts including research papers, project funding, hackathons, and advocacy for sustainable practices.
VeBetterDAO is built to become a cross-industry sustainability dApp ecosystem, driving the adoption of Web3 technology. It is aimed at reaching one million active daily users in the near future.
Sustainability is a vast field that encompasses economic, social, and environmental development across 17 areas outlined in the Sustainable Development Goals. For enterprises, there is also a regulatory aspect to consider when implementing sustainable practices. VeChain recognizes this opportunity and aims to address these challenges while fostering the growth of its ecosystem.
The VeBetterDAO platform allows enterprises and individuals to engage, earn, and prosper while promoting sustainability. It employs the innovative ‘X-2-Earn’ strategy, which rewards user actions through blockchain technology.
The newly launched testnet is now available for the community to explore, featuring new tokens, dApps, and a whitepaper. The platform will be launched in three phases: Pilot Show Alpha: Testnet Take-off, Pilot Show Beta: Mainnet Blitz, and Go-Live Gala. The final phase is expected to be completed by the end of June.
With the launch of VeBetterDAO, two new tokens are being introduced: the B3TR and VOT3 tokens. These tokens are designed to complement the existing tokenomic structure by increasing transaction demand and usage. The B3TR token will have multiple functionalities within the ecosystem, while the VOT3 token will serve as the governance token. The VOT3 token can be redeemed 1:1 between B3TR and VOT3 through a dedicated swap pool.
To ensure widespread distribution and reward engagement, VeChain plans to conduct a series of B3TR airdrop campaigns in the coming months. The community is encouraged to participate, as one million B3TR tokens will be airdropped between February 28th and June 30th.
Following the announcement, the VeChain (VET) token has experienced a surge of 6%, adding to its weekly gains of over 20%. As of now, VET is trading at $0.05108. The introduction of the VeBetterDAO platform promises further growth for the VeChain ecosystem and the VET native token, while making significant strides towards sustainability worldwide.