TL;DR
- VeChain is preparing for the launch of the VeBetterDAO mainnet on June 28, 2024, aiming to improve governance and sustainability in its ecosystem.
- Quadratic voting will be introduced to ensure equitable participation in governance proposals, preventing large stakeholders from dominating the process.
- The full issuance of B3TR tokens will begin with a 12-year tokenomic structure, incentivizing community participation with weekly allocations to dApps and active voters.
VeChain is gearing up for the launch of the VeBetterDAO mainnet, scheduled for June 28, 2024. This launch represents a significant advancement in blockchain technology and efforts to enhance sustainability. The initiative aims to improve governance and community participation in the VeChain ecosystem, offering new tools and more democratic participation mechanisms.
The mainnet launch will bring significant innovations, primarily the introduction of quadratic voting. This system ensures more equitable participation in governance proposals, preventing large shareholders from dominating the process and promoting fairer and more representative decision-making.
Today marks the last day of the final round of VeBetterDAO voting on testnet! Don't miss this historic start to a new paradigm where we are building a sustainable world with Web3 tech.
Let your VOT3 count; participate now 👇https://t.co/tFEsIE2E14
— VeChain (@vechainofficial) June 16, 2024
Additionally, the transition to the mainnet will activate the full issuance of B3TR tokens, initiating a tokenomic structure planned for the next 12 years. During this period, 2 million B3TR tokens will be allocated weekly to decentralized applications (dApps) and voters actively participating in ecosystem governance. This approach aims to incentivize and reward community participation, strengthening the network in the process.
VeChain Moves Towards Absolute Decentralization
VeBetterDAO will also enable users to participate directly in Treasury proposals through its governance application. For a proposal to be considered, it must have the backing of at least 2% of the circulating supply of B3TR tokens. Once this threshold is met, the proposal will be posted on a dedicated forum where voters can deliberate and decide on its implementation. Participants in these votes will be incentivized with additional rewards, encouraging greater involvement in decision-making.
The mainnet launch is a crucial step towards consolidating more sustainable and democratic governance in the VeChain ecosystem. Blockchain researcher Collin Brown stated that this development represents a new era for sustainability, highlighting the role of Web3 technology in promoting a greener and more equitable future.
Currently, VeChain’s price is $0.02757, with a 24-hour trading volume of $41.2 million. Despite a 5.6% decrease in the last day, its market capitalization remains above $2 billion.
The VeChain community eagerly anticipates upcoming updates and the positive impact they will have on the ecosystem’s governance and sustainability.
