VeChain’s VeBetterDAO: Pioneering Web3 for sustainability

Recently, Collin Brown, a prominent figure in the blockchain space, has deployed VeBetterDAO on VeChain’s testnet. This exciting and pioneering project focuses on the Web3 industry and strives to make certain changes in the approach to sustainability with the help of blockchain. This introduction represents an important step in utilizing this sophisticated technology to advocate for and facilitate sustainable environmental protection.

VeChain also recently announced a new update about VeBetterDAO on their mainnet, with the launch due on June 28, 2024. The emergence of VeBetterDAO is expected to further push the advancement of worldwide sustainable development goals and continue to strengthen the entire cryptocurrency society.

The upcoming mainnet update can lead to significant improvements, such as better tools for addressing community needs. VeBetterDAO’s white paper provides a detailed description of these upgrades. This release will also initiate the emission of B3TR tokens, following a 12-year plan. The initial distribution plan calls for 2 million B3TR per week, with extra incentives for dApps and community voters.

VeBetterDAO is looking at the use of quadratic funding and voting to ensure that its decision-making process is fair. It is aimed at preventing a situation where a few influential participants exclude others and make the decision in their favor. With the introduction of the new mainnet, individuals will have the opportunity to participate in Treasury proposals via the VeBetterDAO governance dApp. These proposals will address a variety of objectives and significantly contribute to the definition of the future development of the VeBetterDAO ecosystem.

One or more people initiate a proposal when they gather support from at least 2% of the current B3TR tokens in circulation. Once they surpass this threshold, they can submit the proposal on a platform, specifically VeBetterDAO. This will then enable community members to cast their votes on the proposal. The incentive to vote will increase, and more information about how to participate in the governance process will be released as the launch date approaches.

VeChain currently trades at $0.027652, with a daily trading volume of $36,136,459. Even though its price has depreciated by 4.68% in recent years, it has a high market capitalization of $2,010,683,526, attracting a lot of attention from investors. The circulating supply of VET coins presently sits at 72,714,516,834 out of a total potential supply of 86,712,634.

Advertisement

The project participants, along with the cryptocurrency industry, are eagerly anticipating the mainnet release dates. The outcome of this event significantly boosts VeChain’s mission to pursue sustainability through the use of blockchain technology, marking a historic achievement in fusing greener innovation with digital innovation.

Harsh Chauhan

Harsh Chauhan is an experienced crypto journalist and editor at CryptoNewsZ. He was formerly an editor at various industries and has written extensively about Crypto, Blockchain, Web3, NFT and AI. Harsh holds a Bachelor of Business Administration degree with a focus on Marketing and a certification from the Blockchain Foundation Program. Through his writings, he hold the pulse of rapidly evolving crypto landscape, delivering timely updates and thought-provoking analysis. His commitment to providing value to readers is evident in every piece of content produced.

Related Articles

Back to top button