VeChain, the leading enterprise blockchain platform, is set to unveil its ambitious project, VeBetterDAO, on June 30, coinciding with VeChainThor’s mainnet anniversary. VeBetterDAO is a Decentralized Autonomous Organization (DAO) aimed at promoting community engagement and driving sustainability initiatives. To ensure effective implementation, VeChain has introduced two main tokens: VOT3 and B3TR. VOT3 serves as a governance token, allowing holders to vote on proposals and earn rewards through staking. On the other hand, B3TR powers the entire DAO, facilitating innovation, incentivizing participation, and supporting eco-friendly projects.
The release of VeBetterDAO will take place in three phases: Pilot Show Alpha, Pilot Show Beta, and the Go-Live Gala. The Pilot Show Alpha began in February, during which a specified quantity of B3TR tokens was distributed through activities like airdrops, community engagement, testnet activities, and seeding initial users. This phase also allows users to play-test various functions and provide feedback to the development team. Tokens earned during the Alpha period will carry over to the mainnet.
VeBetterDAO is expected to introduce several features during the Go-Live Gala phase, including the minting and distribution of the B3TR token, increasing the maturity levels of Galaxy Membership (GM) NFTs, upgrades for X-2-Earn DApps, token staking programs, and automation of Treasury and Governance management.
VeChain aims to incentivize sustainable actions using the B3TR token, with a vision of achieving a million active daily users in the coming years. As the ecosystem grows, new opportunities for B3TR usage and adoption will emerge.
The VeBetterDAO Galaxy Member (GM) NFT System utilizes an upgradeable NFT system to determine user privileges. Higher levels of GM NFTs will result in greater rewards. Upgrading the GM NFT requires the donation of B3TR tokens to the Treasury, which will be used to support ecosystem growth. Initially, VeChain X-Nodes and Economic Nodes will be eligible for higher rewards, acknowledging their role in VeChainThor governance. It is important to note that GM levels will be unlocked progressively, allowing users time to accumulate the required B3TR tokens for upgrades.
As of now, VeChain is trading at $0.048729, experiencing a 0.64% decrease in the last 24 hours.
