VeChain (VET) has recently concluded a successful testnet phase for its VeBetterDAO project, with the mainnet launch scheduled for June 28, 2024. Over the past three months, the project’s growth has surpassed expectations, hosting 18,000 B3TR holders and more than 4,000 active users, and generating over 232,000 transactions. These early statistics highlight the potential of incentive-based, gamified applications in driving real-world impact, according to VeChain.
Emphasizing Sustainability and Community Engagement
The VeBetterDAO initiative is not just a technological advancement but also a step towards promoting global sustainability. VeChain’s recent blog post emphasized that this level of development represents a significant leap towards empowering crypto communities and fostering Web3 adoption. The mainnet launch underscores VeChain’s commitment to innovation and real-world application of blockchain technology, emphasizing the importance of community engagement and governance.
The testnet phase is set to conclude with the final round of voting on June 16, marking the end of this phase and the start of VeBetterDAO’s transition to the mainnet. Between June 17 and June 22, users will have a final opportunity to claim testnet rewards manually. Following this, from June 23 to June 28, the testnet will be paused to prepare for deployment on the VeChainThor mainnet.
Detailed Launch Timeline and User Participation
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 can swap their mainnet B3TR for VOT3 in preparation for the first voting round, which begins on June 30. The inaugural mainnet voting round will commence at 00:00 UTC on July 1, and the first reward allocation for project owners and voters will be available for claiming on July 8.
The VeBetterDAO mainnet launch will introduce new features aimed at improving governance and incentivizing participation. The development team has committed to continuing work on the platform post-launch, with plans to introduce additional features such as staking programs and a dApp listing validator mechanism. These enhancements are expected to further engage the community and expand the platform’s capabilities.
Sustainability & blockchain are hot topics at London Blockchain Conference!
Catch up with @solomon_grundle as he runs us through what’s going on in London, as well as what’s next for VeBetterDAO. 👇
Sorry about the numbers – VeFam keeps increasing the transaction count. 😉 pic.twitter.com/1PyA6rUigt
— vechain (@vechainofficial) May 22, 2024
Continuous Enhancement and Future Plans
VeChain’s dedication to continuous improvement is evident in its pledge to enhance the VeBetterDAO platform even after the mainnet launch. According to the VeBetterDAO Whitepaper, future updates will include the introduction of staking programs and the ability to unlock higher tiers of GM NFTs, which will offer additional rewards for active participation. These planned features demonstrate VeChain’s commitment to creating a robust and engaging ecosystem for its users.
In addition to the VeBetterDAO launch, VeChain has announced its HiVe 2.0 summit, which will take place in San Francisco in late June. This event will feature a co-branded hackathon with EasyA and BCG, further underscoring VeChain’s commitment to innovation and community engagement within the blockchain space.
Conclusion
VeChain’s VeBetterDAO project is set to make a significant impact with its mainnet launch on June 28, 2024. The project’s rapid growth during the testnet phase, combined with the introduction of new features aimed at enhancing governance and user participation, positions it as a key player in the blockchain ecosystem. VeChain’s continuous efforts to innovate and improve its platform, alongside its commitment to sustainability and community engagement, highlight its role in driving the adoption and application of decentralized technologies. The upcoming HiVe 2.0 summit in San Francisco further cements VeChain’s position as a leader in the blockchain industry.
