- VeChain and BCG teamed up to launch VeBetterDAO, aiming to make Web3.0 more sustainable and engaging.
- The platform introduces ‘B3TR’ and ‘VOT3’ tokens to reward users for participation, driving the adoption of decentralized applications.
VeBetterDAO, unveiled via VeChain’s official X handle and Medium blog, aims to catalyze a cross-industry sustainability decentralized application (dApp) ecosystem. The platform incorporates VeChain’s X-2-Earn strategy, encouraging Web3 usage among individuals and organizations. VeBetterDAO represents a critical turning point in VeChain’s efforts to encourage the broad use of blockchain technology. It was developed to expand the Web3 for Better whitepaper, which was produced in association with the Boston Consulting Group.
Introducing B3TR! 🔥
VeChain is reimagining the role of Web3 in achieving sustainability.
B3TR is one of two utility tokens of the VeBetterDAO. B3TR serves as the general incentive token within the VeBetterDAO ecosystem, rewarding participation and sustainable actions. 🧵👇 pic.twitter.com/MxxDsE8md1
— vechain (@vechainofficial) February 29, 2024
As reported by Crypto News Flash earlier, three steps are being used to launch VeBetterDAO: Testnet Take-off, Pilot Show Alpha, and the subsequent stages culminating in the Go-Live Gala on June 30. At present, the platform has initiated certain elements during the Pilot Show Alpha stage, such as the distribution of B3TR tokens via airdrops, testnet activities, awards, and social engagements. These programs aim to encourage community involvement and investigate the capabilities of early dApps.
Dual-Token Interplay for Governance and Incentives
The B3TR and VOT3 tokens that comprise the dual-token system power VeBetterDAO’s operations. The main incentive token, B3TR, pays users for using decentralized applications (dApps) with a sustainability focus. On the other hand, VOT3 makes it easier for decentralized decision-making and value distribution inside the network. By exchanging B3TR for VOT3 tokens, users can participate in governance procedures and shape the ecosystem’s future.
By employing VOT3 tokens, VeBetterDAO allows the community to guide the platform’s development by allocating newly created B3TR tokens to meaningful sustainability projects. guaranteeing that ecosystem financing is distributed in accordance with actual effect and value creation. This governance-based strategy promotes the expansion of significant sustainability use cases. As the platform matures, it attracts developers and companies committed to driving positive change across various sectors, including healthcare, education, environmental conservation, and ethical labor practices.
Predicting a user base of one million daily active members within the next few years and the potential to rise to one billion members by the end of the decade, VeChain sees enormous growth potential for VeBetterDAO. The integration of the platform with VeChain’s wide network of enterprise partners further enhances its scalability. Utilizing VeBetterDAO, these partners may encourage consumer participation in sustainability projects, cultivate client loyalty, and advance their corporate social responsibility (CSR) initiatives.
VeChain’s rising momentum
VeChain (VET) has seen remarkable growth, closing out in February with its highest monthly close since its inception. With a 24-hour increase of 3.91% to $0.049, VET has surged by over 80% in the past month. This bullish momentum has reignited investor interest, sparking speculation about a potential retest of its previous all-time high (ATH) of $0.2782. While VET’s current valuation may be distant from this point, the positive sentiment surrounding Bitcoin’s price surge to $60,000 suggests potential long-term benefits for VET.
With the launch of VeBetterDAO, VeChain is spearheading efforts to drive mainstream adoption of blockchain technology across industries. Additionally, by providing users with opportunities to earn rewards and actively participate in the platform’s governance, VeBetterDAO aims to create a vibrant and sustainable ecosystem built on the principles of decentralization and community empowerment.
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