VeBetterDAO, a platform on the VeChain ecosystem, has received its first-ever proposal for an app that aims to bring transparency to the distribution and use of B3TR tokens. The proposal has garnered the necessary 275,000 VOT3 tokens to move forward, and voting will begin in four days.
Since its recent launch on the VeChain mainnet, VeBetterDAO has achieved another significant milestone with this proposal from a community member. VeBetterDAO functions as an ecosystem for apps that promote sustainable actions and assets on the VeChain network. It allows any app to tokenize its sustainable actions and reward users with B3TR tokens. As a DAO, its governance lies entirely in the hands of the community, and proposals serve as a means for members to voice their opinions.
One community member, known as Dudoso, has submitted the first proposal for VeBetterDAO. The proposal focuses on B3TR tokens and suggests that all dApps on the platform should integrate a transparent tracker that provides real-time insights into the distribution of B3TR tokens. Dudoso’s proposal is in the form of text, as opposed to on-chain actions that require fundamental technological changes.
Dudoso explained the rationale behind the proposal, emphasizing the importance of clear understanding for both dApps and users regarding how B3TR tokens will be distributed and used to drive sustainable actions and maintain an equitable ecosystem. By implementing a transparent tracker, the proposal aims to enhance accountability and transparency while enabling users to choose dApps that best reward their users, as the distribution data will be publicly available.
While the proposal carries certain risks and vulnerabilities, such as the potential for dApps to misrepresent tokenomics, Dudoso suggests that requiring dApps to provide their VeChain wallet addresses can mitigate this issue. Since the VeChainThor network is publicly accessible and immutable, any deceptive actions by dApps would be visible.
Dudoso’s proposal has already received the required 275,000 VOT3 tokens from 67 users, who can retrieve their tokens once the proposal advances to the next stage, regardless of its outcome. Voting for the proposal will commence in four days.
VeBetterDAO is just one of the many VeChain platforms experiencing rapid growth. The integration of the VeChain network into real-world use cases, including real estate, sustainable shopping, fan engagement, and tokenization, continues to expand. The price of VeChain’s VET token has experienced a slight dip of 4.2% in the past day, following a successful week in which it reached its highest price in five weeks.