VeChain’s VeBetterDAO has successfully completed its Testnet launch, attracting 18,000 B3TR holders and over 4,000 active users in just three months. The project’s mainnet launch is scheduled for June 28, 2024, with the first round of mainnet voting set to take place on July 1.
The growth of VeBetterDAO has surpassed expectations, with over 232,000 transactions generated during the testnet phase. VeChain sees these early numbers as proof of the effectiveness of incentive-based, gamified applications in making a real-world impact.
VeBetterDAO goes beyond being just a technology upgrade, as it highlights the project’s commitment to global sustainability. The development progress achieved so far is a significant step towards empowering crypto communities and promoting Web3 adoption on a larger scale.
The mainnet launch of VeBetterDAO demonstrates VeChain’s ongoing efforts to drive innovation and real-world adoption of blockchain technologies. The platform’s initial success emphasizes the importance of community engagement and governance opportunities, which are fundamental aspects of the new platform’s ethos.
VeChain has outlined the timelines and steps for the implementation of VeBetterDAO. The testnet phase will be completed on June 16, followed by a window for manual claiming of testnet rewards from June 17 to June 22. From June 23 to June 28, the VeBetterDAO testnet will be paused to facilitate deployment on the VeChainThor mainnet. On June 28, testnet token holders will be able to access their balances on the mainnet, and from June 28 to June 30, users can swap their mainnet B3TR for VOT3 in preparation for the first voting round starting on June 30. The first reward allocation for project owners and voters will be claimable on July 8.
The mainnet launch of VeBetterDAO will introduce new features aimed at improving governance and incentivizing participation. The team behind the project commits to continue working on the platform after the launch to enhance it further and introduce additional features such as staking programs.
VeChain has also announced its upcoming HiVe 2.0 summit, which will take place in San Francisco in late June. The summit will be marked by a co-branded hackathon with EasyA and BCG.
As of now, the native token of VeChain, VET, has experienced a decline of 0.9% in the last 24 hours, 13% in the last 30 days, and 21% in the last 90 days, currently trading at $0.036.