In the current scenario, blockchain maintains a huge impact in this digital world. VeChain also strives to achieve its goal through outstanding innovations. VeChain is about to launch its mainnet called VeBetterDAO on 28 June 2024, a major milestone that promises to redefine the decentralized technology landscape. This launch is more than just a technical update; it is a testament to the relentless innovation that VeChain has been implementing since its inception. Know how the launch is shaping the blockchain landscape.
The Genesis of VeChain
VeChain, born in 2015 with a grand vision of revolutionizing supply chains, is a testament to innovation. Its founder, Sunny Lu, who filed his skills at Louis Vuitton in China, set the wheels in motion. VeChain harnesses the power of blockchain technology to facilitate transparency and efficiency in companies. Their focus is not on monetary gains but on making concrete improvements in the real world, a concept that will pique tech enthusiasts’ interest.
What is VeBetterDAO?
VeBetterDAO is a platform that integrates gamification, VeChain’s blockchain technology, and real-world applications to drive sustainability and X-2-Earn adoption. The Low Carbon Ecosystem, developed by VeChain, allows BYD Electric Vehicle drivers to earn carbon credits based on travel distance and savings. These credits can be exchanged for goods and services verified by blockchain for trustworthiness. Web3 is a social movement promoting community-driven development, egalitarianism, and transparency. VeBetterDAO has been introduced on VeChainThor, aiming to drive VeChain’s adoption beyond enterprise users.
Launching Phases of VeBetterDAO
VeChain’s mainnet launch on June 28, 2024, before launching any invention, it needs a proper analysis and strong research. Similarly, the VeBetterDAO launches in three phases. They are:
1. Pilot show Alpha: Testnet Take-off
2. Pilot Show Beta: Mainnet Blitz
3. The Go-Live Gala
Pilot Show Alpha: Testnet Take-off
VeBetterDAO’s journey begins with Pilot Show Alpha: Testnet Take-off, starting at the end of February 2024. During this phase, a specific amount of B3TR tokens will be distributed through airdrops and testnet activities, seeding the initial user base. Participants can playtest various features and familiarize themselves with the launch version. The development team will use this phase to address bugs, introduce new features, and refine the platform. Importantly, B3TR tokens earned during Alpha will carry over to the mainnet, ensuring early contributors are rewarded.
Pilot Show Beta: Mainnet Blitz
Following the successful completion of Alpha, VeBetterDAO will transition to Pilot Show Beta: Mainnet Blitz, expected to kick off at the end of Q2, 2024. The mainnet will go live during this phase, and users can continue earning and utilizing B3TR tokens. A snapshot will be taken near the end of the Alpha phase to ensure that all earned tokens are accurately transferred to the mainnet. The Beta phase will focus on scaling the platform, engaging a broader user base, and introducing advanced functionalities. This phase is crucial for ensuring the stability and scalability of the ecosystem before the full-scale launch.
VeChain’s VET Eyes Bullish Breakout as VeBetterDAO Prepares for Mainnet LaunchGo-Live Gala
The official launch of VeBetterDAO, known as the Go-Live Gala, is scheduled to coincide with VeChainThor’s mainnet anniversary on June 30. This phase will unveil several new features and functions, marking the full-scale operation of the ecosystem:
- B3TR Token Minting and Distribution: The minting and distributing of B3TR tokens will commence, following the cadence outlined in the ‘Tokenomics’ plan.
- Galaxy Membership (GM) NFTs: Users can increase the maturity levels of their GM NFTs, unlocking additional benefits and rewards.
- Enhanced Tools and Functionalities for X-2-Earn dApps: Significant upgrades will be made to tools and functionalities, enhancing user experience and engagement.
- Token Staking Programs: New token staking programs will be introduced, allowing users to earn rewards for holding B3TR tokens.
- Automation of Treasury and Governance Management: The platform will automate treasury and governance management processes, ensuring efficient and transparent operations.
- Additional Features: More features and enhancements will be introduced, details of which will be defined closer to the launch date.
Tokenomics: The Heartbeat of VeBetterDAO
General Tokenomics
Tokenomics drives the exciting VeBetterDAO ecosystem. Imagine a vibrant digital world where eco-friendly actions help the planet and earn rewards. In this governed-community platform, users stake tokens to participate in decision-making and earn rewards. The goal is to supercharge transaction demand on VeChainThor and strengthen its token model.
Incentive Token – B3TR
Introducing B3TR, the spark that fuels VeBetterDAO. Consider it a golden ticket:
- It’s the key to the DAO Treasury, helping manage funds.
- It turns your actions and enterprise innovations into real value.
- It rewards sustainability efforts, boosting community growth and engagement.
- It backs VOT3 tokens 1:1, which is essential for governance.
Governance Token – VOT3
VOT3 is the mastermind behind VeBetterDAO’s decisions. Here’s what it does:
- It’s your pass to join governance events.
- Stake it to influence how new B3TR tokens are allocated.
- Swap it 1:1 with B3TR through a special pool.
In VeBetterDAO, tokenomics isn’t just technical. It’s a fun and rewarding journey toward a sustainable future.
VeChain (VET) Faces Critical Resistance: Will it Break Through $0.035 Resistance?Governance
VeBetterDAO: An Easy Governance
Joining VeBetterDAO is easy. VOT3 is a sovereign token obtained through a 1:1 exchange of B3TR tokens. Members can vote on proposals, participate in governance chats, and access finances without minimum requirements.
Stabilization And Initial Stage of Governance
VeBetterDAO follows basic governance rules for one year after the launch to ensure everything runs smoothly. This period of stability is critical to long-term success. During this period, VeChain Foundation may stop and restart the production of B3TR tokens in case of serious problems. After one year, the association decides whether to keep or remove the function every two years.
Proposal Submission
Referrals are the lifeblood of any DAO, and VeBetterDAO is no exception. The community can present, discuss, and vote on their suggestions in a dedicated forum. The forum includes a dashboard with voting results, historical records, and offer details. Before a proposal can be implemented, it must undergo social discussions, a “temperature check,” and a vote throughout the chain.
Dispute Resolution, Safeguards and Transparency
Community voting resolves disputes within the DAO. As defined by VeBetterDAO, security forces have limited authority to disable protocols or reject malicious proposals in emergencies. They work quickly and without delay and are managed by VeBetterDAO operators. Guardians can block transactions and malicious offers to ensure the platform’s safety.
Conclusion
Ultimately, the launch of VeBetterDAO marks a major milestone in the blockchain industry. This event is not just about technological progress; it’s a testament to the power of vision, innovation, and community. VeChain’s journey from humble beginnings to its present standing as a blockchain behemoth is a continuous pursuit of greatness.
As we await the launch of the mainnet, we can only imagine the possibilities ahead. VeChain aims to redefine industries, increase sustainability, and implement blockchain technology globally. For those following the VeChain saga, this is an exciting time full of promise and potential. Stay tuned as VeChain continues to push the boundaries of what blockchain can do.
