VeChain has unveiled key dates for its upcoming mainnet launch slated for June 28th.
As detailed in a post on X, the final opportunity to claim rewards will run from June 17th to June 22nd, with the initial mainnet voting scheduled for July 1st.
VeChain’s VeBetterDAO recently concluded its 12th voting round with 2,200 participants, aligning with earlier reports by Crypto News Flash which highlighted the distribution of 67,000 B3TR tokens across 7 decentralized applications. This transition to the mainnet aims to introduce new governance features and incentivize diverse forms of engagement.
Moreover, this milestone upgrade signifies a significant step towards global sustainability efforts and empowerment within the crypto community.
Today, we are excited to provide insights into VeBetterDAO’s mainnet launch and what lies ahead in the coming weeks. Scheduled for June 28, 2024, this debut represents more than a technological advancement—it marks a pivotal moment for global sustainability, empowering crypto communities, and fostering broader Web3 adoption.
Key Dates for VeChain’s VeBetterDAO Mainnet Launch:
According to VeChain, June 17th to June 22nd marks the final window to claim testnet rewards. On June 23rd, a final snapshot of all testnet token activities will be taken. Following this, the VeBetterDAO testnet will pause from June 23rd to June 28th in preparation for deployment.
On June 28th, holders of testnet tokens—B3TR, VOT3, and GM NFT—will see these assets reflected in their VeChainThor mainnet balances. Post-transition, all tokens will convert to B3TR form. From June 28th to June 30th, there will be an emphasis on swapping mainnet B3TR for VOT3, ahead of the inaugural voting round starting on July 1st.
As per the announcement, only VOT3 tokens swapped before the start of the round will qualify for initial weekly B3TR rewards. By July 8th, project owners and voters can claim their first reward allocation.
Mark your calendars for these crucial dates concerning VeBetterDAO!
➡ June 17th – June 22nd: Final reward claim window
➡ June 23rd: Final testnet token snapshot
➡ June 23rd – June 28th:
#VeBetterDAO
paused
➡ June 28th: Tokens available on mainnet
➡ July 1st: First mainnet voting
A review of a press release by CNF reveals that the mainnet launch will introduce full-scale B3TR emission and initiate a 12-year tokenomic structure. To allocate weekly resources to DApps, a 2 million B3TR pool will be utilized initially.
Highlighting additional benefits, VeChain notes the introduction of quadratic funding and fair voting mechanisms to prevent dominance by major stakeholders. Users will participate in Treasury proposals through the VeBetterDAO governance dApp, requiring support from at least 2% of circulating B3TR tokens to initiate a proposal.
Once the proposal meets this threshold, it will be posted on a dedicated forum within VeBetterDAO. Voters participating in these proposals will receive additional incentives. More details on initiating governance proposals for VeBetterDAO will be released closer to the mainnet launch.
At the time of publication, VET was trading at $0.02, having surged by 3% over the last 24 hours.
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