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- VeChain’s VeBetterDAO completes its Testnet launch as it welcomed $18,000 B3TR holders and over 4000 active users in 3 months.
- The mainnet launch is expected to kick off on June 28, 2024, with the first round of mainnet voting expected on July 1.
Vechain (VET) recently completed a successful testnet launch for VeBetterDAO with the mainnet debut expected to be executed on June 28, 2024. Interestingly, its growth over the past three months has exceeded expectations with the project hosting 18,000 B3TR holders and more than 4,000 active users.
In total, more than 232,000 transactions were generated over the period. According to VeChain, these early numbers highlight the viability of using incentive-based, gamified applications to make a real-world impact.
The VeBetterDAO project also underscores the effort for global action of sustainability with the project transcending just a technology upgrade. In a blog post dedicated to the project, it was disclosed that the current level of development marks a huge leap towards the empowerment of crypto communities and Web3 adoption at large.
The mainnet launch of VeBetterDAO is a testament to VeChain’s continued efforts in driving innovation and real-world adoption of blockchain technologies. The initial success of the platform highlights the vital importance of enhancing community engagement and governance opportunities — something core ethos of our new platform.
Timelines and Steps for VeBetterDAO Implementation
According to VeChain, June 16 would be the last round of voting on the testnet and would mark the completion of the testnet phase and the beginning of VeBetterDAO’s transition to mainnet. The final window to manually claim the testnet reward would be between June 17 and June 22.
From June 23 to June 28, the VeBetterDAO testnet would be paused for onward deployment on the VeChainThor mainnet. On June 28, the holders of the testnet tokens (B3TR, VOT3 and GM NFT) would access their balance on the VeChainThor mainnet. From June 28 to June 30, users would have the chance to swap their mainnet B3TR for VOT3 to prepare for the first voting round starting on June 30.
Exactly on July 1 at 00:00 UTC, the first round of mainnet voting would begin. Finally, the first reward allocation for the project owners and voters would be claimable on July 8.
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
New Features Set to be Unlocked
According to the report, the VeBetterDAO mainnet launch would come with new features meant to improve governance and incentivize new forms of participation. Also, the team pledges to continue to work on the platform after the mainnet launch, to enhance and introduce new features such as staking programs, etc.
The excitement doesn’t end at the mainnet! As outlined in the VeBetterDAO Whitepaper, we’re committed to continually enhancing the VeBetterDAO platform. Post-migration, we’ll introduce new features, including a dApp listing validator mechanism, staking programs, and the ability to unlock higher tiers of GM NFTs to earn even more rewards from participation.
In addition to this exciting announcement, VeChain has disclosed that its HiVe 2.0 summit will take place in San Francisco in late June. For now, its completion would be marked by the co-branded hackathon with EasyA and BCG.
At press time, the native token of VeChain, VET, had declined by 0.9% in the last 24 hours, 13% in the last 30 days, and 21% in the last 90 days to trade at $0.036.
