VeChain’s VeBetterDAO has successfully completed its Testnet launch, attracting 18,000 B3TR holders and over 4,000 active users in just three months. The project’s mainnet launch is scheduled for June 28, 2024, with the first round of mainnet voting set to commence on July 1.
VeChain, specifically its VeBetterDAO initiative, recently concluded a highly successful testnet launch. Surpassing expectations, the project has garnered a significant user base, boasting 18,000 B3TR holders and over 4,000 active users in a span of three months. The total number of transactions generated during this period exceeded 232,000.
VeChain believes that these early figures demonstrate the feasibility of employing incentive-based, gamified applications to make a tangible impact in the real world. Furthermore, the VeBetterDAO project represents a commitment to global sustainability, extending beyond a mere technological upgrade. In a dedicated blog post, it was revealed that the project’s current stage of development represents a significant leap towards empowering crypto communities and promoting Web3 adoption on a larger scale.
The launch of VeBetterDAO’s mainnet serves as a testament to VeChain’s ongoing efforts to drive innovation and foster real-world adoption of blockchain technologies. The initial success of the platform underscores the importance of enhancing community engagement and governance opportunities, which are fundamental principles of our new platform.
VeChain has outlined the timeline and steps for the implementation of VeBetterDAO. The testnet’s final round of voting will take place on June 16, marking the end of the testnet phase and the start of VeBetterDAO’s transition to the mainnet. Users will have until June 22 to manually claim their testnet rewards. From June 23 to June 28, the VeBetterDAO testnet will be temporarily paused to facilitate its deployment on the VeChainThor mainnet. On June 28, holders of testnet tokens (B3TR, VOT3, and GM NFT) will be able to access their balances on the VeChainThor mainnet. From June 28 to June 30, users will have the opportunity to exchange their mainnet B3TR for VOT3 in preparation for the first round of voting, which begins on June 30. The first reward allocation for project owners and voters will be available for claiming on July 8.
The mainnet launch of VeBetterDAO will introduce new features aimed at improving governance and incentivizing new forms of participation. The team behind the project has pledged to continue working on the platform after the mainnet launch, with plans to enhance it further and introduce additional features such as staking programs.
In addition to this exciting development, VeChain has announced that its HiVe 2.0 summit will be held in San Francisco in late June. The summit will conclude with a co-branded hackathon in collaboration with EasyA and BCG.
As of now, VeChain’s native token, VET, has experienced a decline of 0.9% in the last 24 hours, 13% in the last 30 days, and 21% in the last 90 days, with its current trading price at $0.036.
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