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 mainnet launch is scheduled for June 28, 2024, with the initial round of mainnet voting to follow on July 1.
Vechain (VET) recently concluded a highly successful testnet launch for VeBetterDAO, surpassing expectations by attracting 18,000 B3TR holders and over 4,000 active users in just three months. During this period, more than 232,000 transactions were generated, demonstrating the effectiveness of incentive-based, gamified applications in making a real-world impact.
The VeBetterDAO project goes beyond being a mere technological upgrade, emphasizing the importance of global sustainability efforts. In a dedicated blog post, VeChain highlights that this significant development marks a substantial step towards empowering crypto communities and promoting the adoption of Web3.
The mainnet launch of VeBetterDAO is a testament to VeChain’s ongoing commitment to driving innovation and real-world adoption of blockchain technology. The initial success of the platform underlines the crucial importance of community engagement and governance opportunities, which are fundamental to our new platform’s core ethos.
VeChain has outlined the timelines and steps for the implementation of VeBetterDAO. The testnet’s final round of voting will take place on June 16, marking the completion of the testnet phase and the transition to mainnet. Users will have until June 22 to manually claim testnet rewards. From June 23 to June 28, the VeBetterDAO testnet will be temporarily paused for deployment on the VeChainThor mainnet. On June 28, testnet token holders will gain access to their balance on the VeChainThor mainnet. From June 28 to June 30, users will have the opportunity to swap their mainnet B3TR for VOT3 in preparation for the first voting round, which begins on June 30. The first reward allocation for project owners and voters will be claimable on July 8.
The mainnet launch of VeBetterDAO will introduce new features designed to enhance governance and incentivize new forms of participation. The team also pledges to continue working on the platform after the launch, introducing additional features such as staking programs, among others.
In addition to the mainnet launch, VeChain has announced that its HiVe 2.0 summit will take place in San Francisco in late June, culminating in a co-branded hackathon 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, trading at $0.036.