VeChain, the innovative blockchain platform, has recently introduced veDelegate, a revolutionary delegation service for its B3TR ecosystem. This groundbreaking service allows users to effortlessly stake their tokens and reap the benefits of voting rewards with minimal effort.
With veDelegate, users can easily set their voting preferences, and the platform takes care of their weekly votes, enabling them to earn rewards without the need for manual involvement. In fact, the platform promises an impressive annual yield of over 1,900%.
The VeChain ecosystem is constantly expanding, with new tools, services, and products being launched regularly. The latest addition is veDelegate, a token delegation service designed specifically for the B3TR ecosystem. This service offers rewards without any manual voting required.
According to VeChain’s recent announcement, veDelegate allows users to stake their tokens and enhance their voting rewards without the hassle of weekly manual voting. This means that users can enjoy automated governance and increased rewards without the need for constant monitoring and participation.
So, how does veDelegate work? It all starts with the staking of B3TR and VOT3 tokens, which are the native tokens of VeBetterDAO, a sustainability platform that was launched in February to incentivize and reward users for engaging in sustainable actions.
Once users stake their B3TR and VOT3 tokens, they receive veB3TR and veVOT3 tokens in return. These wrapped tokens represent their stake in the platform and allow them to effortlessly tap into its lucrative opportunities. To reclaim their original tokens, users simply redeem the wrapped tokens, which are then permanently removed from circulation.
veDelegate is built around automated voting. Users can set their voting preferences, and the platform takes care of the voting process on their behalf every week. This feature allows users to enjoy the benefits of governance participation without the need for manual engagement.
However, for those who still prefer to vote manually, veDelegate provides the option to do so through the B3TR governance dApp.
In addition to its automated voting feature, veDelegate also pledges to boost user rewards. The platform aims to achieve the highest possible GM NFT level, maximizing rewards for all staked tokens. The more tokens users stake, the more they can earn.
Security is a top priority for veDelegate. The platform employs industry-standard security measures to ensure the highest level of protection for users’ assets. This is crucial, especially considering that over $5.4 billion worth of crypto has been lost to hacks and cybercrime incidents in the past two years.
Despite being recently launched, veDelegate has already gained traction among users. Currently, there are over 16,000 B3TR tokens and 22,000 VOT3 tokens locked in the platform, with an equivalent number of wrapped tokens issued.
VeChain’s growth trajectory continues to impress. In a recent announcement, a member of the VeChain Foundation’s leadership revealed that one of the world’s largest high-end fashion houses has signed a deal to leverage VeChain’s technology for tracking its items and combating fraud. The global counterfeit goods industry is valued at a staggering $3 trillion, with luxury fashion being a prime target.
Meanwhile, the trading volume of VET, VeChain’s native token, has surged by 48%, and it is currently trading at $0.03421, marking a 1.8% gain in the past day.
In conclusion, VeChain’s veDelegate service brings a new level of convenience and rewards to users in its B3TR ecosystem. With automated voting and enhanced rewards, veDelegate offers an effortless way for users to stake their tokens and participate in governance. As VeChain continues to grow and attract partnerships, its technology proves to be a game-changer in various industries, including fashion.