VeChain’s VeBetterDAO has successfully concluded its 12th round of voting, bringing it closer to the launch of its mainnet. The voting round saw the participation of 2,200 individuals who allocated 67,000 B3TR tokens across seven decentralized applications.
The testnet voting round is expected to be finalized on June 16, paving the way for the transition to the mainnet on June 28, 2024. Following the mainnet launch, VeBetterDAO will introduce new features aimed at enhancing governance and encouraging community participation.
One of the key features is the introduction of quadratic funding and voting mechanisms, which will create a fair and successful voting environment. Users will be able to participate in Treasury Proposals through the VeBetterDAO governance dApp, with proposals requiring an endorsement of at least 2% of the circulating supply of B3TR tokens before they can be voted on.
The VeBetterDAO journey includes important dates and steps. After the completion of the final round of voting on June 16, participants can claim their remaining testnet rewards from June 17 to June 22. On June 23, a final snapshot of all testnet activities will be taken, and preparations for the deployment on the VeChainThor mainnet will begin.
From June 28, testnet token holders will be able to see their balances on the VeChainThor mainnet, and they can swap their mainnet B3TR for VOT3 from June 28 to June 30. The first round of voting on the mainnet will commence on July 1, with the first rewards allocation scheduled for July 8.
VeChain has expressed its commitment to continuously enhancing the VeBetterDAO platform, with plans to introduce new features such as a dApp listing validator mechanism, staking programs, and the ability to unlock higher tiers of GM NFTs for increased participation rewards.
As of now, VeChain (VET) is trading at $0.03, experiencing a 2% surge in the last 24 hours.