VeChain has recently introduced veDelegate, a service that allows users to stake their tokens and receive voting rewards without the need for manual involvement. This new token delegation service is part of VeChain’s B3TR ecosystem and offers a seamless way for users to earn rewards.
With veDelegate, users can set their voting preferences, and the platform will manage their weekly votes on their behalf. This automation allows users to enjoy the benefits of voting rewards without the hassle of manual voting. In fact, VeChain promises an annual yield of over 1,900% for users who participate in veDelegate.
To begin using veDelegate, users need to stake their B3TR and VOT3 tokens, which are native tokens of VeBetterDAO, a sustainability platform launched earlier this year. Once the tokens are staked, users will receive veB3TR and veVOT3 tokens in return. These wrapped tokens represent the users’ stake in the platform and provide them with access to the rewards.
The platform’s automated voting feature ensures that users’ voting preferences are followed every week. This means that users can enjoy the benefits of governance participation without the need for manual engagement. However, for those who prefer to vote manually, the option is still available through the B3TR governance dApp.
veDelegate is committed to maximizing user rewards. The platform aims to achieve the highest possible GM NFT level to ensure that users earn the most rewards possible. As users stake more tokens, their earnings increase accordingly.
Security is a top priority for veDelegate. The platform uses industry-standard security measures to ensure the highest level of protection for users’ assets. This is crucial, considering the significant amount of crypto lost to hacks and cybercrime incidents in recent years.
Despite being launched just a few days ago, veDelegate has already gained traction among users. Currently, there are over 16,000 B3TR and 22,000 VOT3 tokens locked in the system, with an equal number of wrapped tokens issued.
VeChain’s growth continues as it attracts partnerships from various industries. Recently, it was revealed that one of the world’s largest high-end fashion houses has signed a deal to utilize VeChain’s technology for tracking its products and combating fraud. This partnership is significant in the fight against counterfeit goods, which is a massive industry globally.
In terms of trading, VET is currently valued at $0.03421, with a 1.8% gain in the past day. The trading volume has also increased by 48%.
To learn more about VeChain and its offerings, you can explore our recommended guides and tutorials. VeChain’s innovative solutions and advancements in blockchain technology continue to make a significant impact in the industry.