VeBetterDAO Mainnet: A New Frontier For Web3 Adoption, Sustainability and Decentralized Governance

Following VeBetterDAO’s successful testnet launch, we were incredibly excited to see all the engagement and activity. Your efforts have helped lay solid foundations for our new ‘X-2-Earn’ dApp ecosystem, and generated a trove of useful data. For that, we sincerely want to thank everyone who has contributed so far, whether taking part in governance, educating and informing the community through Spaces and content, or by building dApps. You rock!

In just three months, VeBetterDAO welcomed 18,000 B3TR holders and more than 4,000 active users, who, in total, generated upwards of 232,000 transactions. These early numbers highlight the viability of using incentive-based, gamified applications to create real world impact. We look forward to delivering more users and more dApps as we continue to scale in the coming years. Again, we thank our engaged and active community, and are excited to continue building on this momentum in mainnet and beyond.

Builders from all walks of life are core to our vision, and we have a powerful pipeline to support you. From grants worth up to $100k and ongoing DAO support, to BCG mentorship and Venture Capital opportunities — we are putting rails in place to help you succeed! Check out our grants page for more info.

With more exciting X-2-Earn projects in the pipeline from both the Web2 and Web3 worlds, we call on builders to join us and build the future of blockchain.

NB: If you have feedback or suggestions about VeBetterDAO, we invite you to fill out this form. Each participant with genuine answers will receive 20 B3TR — the form will remain open until June 28th, so be sure to share it with friends and family, too!

VeBetterDAO’s Mainnet Launch

Today, we’re excited to share details about the upcoming launch of VeBetterDAO’s mainnet and what you can expect in the coming weeks. VeBetterDAO’s mainnet debut is set for June 28, 2024, and marks more than just a technology upgrade. Its launch is a huge leap forward for global action on sustainability, for empowering crypto communities, and for Web3 adoption at-large.

Important Dates And Steps

As we gear up for launch, we wanted to share are some critical dates and steps with you all:

June 16: The last round of voting on the testnet (#15) will conclude, with rewards distributed the following day. This marks the completion of the test phase and the beginning of VeBetterDAO’s transition to mainnet.

June 17 — June 22: The final window to manually claim remaining testnet rewards. Unclaimed rewards will be automatically disbursed at the end of this period.

June 23 at 00:00 UTC: A final snapshot of all testnet token activity is taken. Post-snapshot, no further testnet activity will be factored into mainnet token projections.

June 23 — June 28: The VeBetterDAO testnet will be paused to prepare for deployment on the VeChainThor mainnet.

June 28: Testnet token (B3TR, VOT3 and GM NFT) holders will see their balances arrive on the VeChainThor mainnet. After the transition, all tokens will be in the form of B3TR, with mainnet B3TR balances equal to testnet B3TR + testnet VOT3 totals. Users will also receive their GM NFTs with the appropriate token ID.

June 28 — June 30: Users will be encouraged to swap mainnet B3TR for VOT3 in preparation for the first voting round, starting June 30 (VeChainThor’s birthday!). Only VOT3 tokens swapped before the round begins are eligible to earn the first round of weekly B3TR rewards.

July 1 at 00:00 UTC: The first round of mainnet voting begins.

July 8: The first rewards allocation for both project owners and voters will be claimable, rewarding those who are actively engaging with and shaping our platform from the outset.

Enhanced by Mainnet

The VeBetterDAO mainnet launch introduces new features designed to improve governance and incentivize new forms of participation. For more details on what to expect, you can refer to the VeBetterDAO whitepaper.

Increased Rewards

As outlined in the whitepaper, the mainnet launch comes with full-scale emission of B3TR, and the start of our 12 year tokenomic structure. Weekly allocations to dApps will begin with a 2 million B3TR pool, increasing available rewards for engaged community members.

Quadratic Funding and Voting

To ensure a fair voting environment and prevent the dominance of large stakeholders, we will introduce quadratic funding and voting mechanisms. This innovative solution is designed to democratize the voting process, making it more equitable for all participants.

Governance Proposals on the Treasury

This new functionality allows users to actively participate in Treasury proposals through the VeBetterDAO governance dApp. These proposals can cover a wide range of purposes, helping to shape the growth and future of the VeBetterDAO ecosystem.

To initiate a proposal and bring it to vote, users must garner the endorsement of at least 2% of the circulating supply of B3TR tokens. Once the proposal reaches this threshold, the proposal will be posted to a dedicated forum on VeBetterDAO. Individuals who vote on these proposals will be incentivised through additional rewards. Details on how to initiate the governance proposals for VeBetterDAO will be released closer to mainnet launch.

Much More To Follow

The excitement doesn’t end at 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.

Meanwhile, we continue to forge ahead with key partners, new integrations and builders as we onboard new dApps and businesses, opening the doors of the ecosystem to millions of new users and growing VeBetterDAO’s global reach and influence.

Be sure to stay tuned for exciting developments by following our X page.

Celebrate With Us At The HiVe 2.0 Summit

In addition to celebrating VeBetterDAO’s mainnet launch, we are excited to formally announce the HiVe 2.0 summit will be taking place in San Francisco in late June, and will be complemented by a co-branded hackathon with EasyA and BCG.

We’re looking forward to celebrating the launch with the VeChain community, as well as welcoming new builders to the ecosystem. More details about the HiVe 2.0 summit and the EasyA hackathon will follow soon — be sure to free up your calendars!

Better, Together

The mainnet launch of VeBetterDAO is 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.

As we kick off the newest chapter in our long-evolving journey, we want you — the community — to help us shape the future of VeChain’s newest ecosystem, and play a role in driving the evolution of mainstream Web3. Join this exciting new chapter in our long, evolving journey and be part of the revolution!

About VeChain

VeChain, headquartered in San Marino, Europe, is the curator of VeChainThor, a world-leading smart contract platform spearheading the real-world adoption of blockchain technology, and a proud pioneer in the field of real world asset tokenization (RWA), having worked with companies in the area since 2015.

By leveraging the capabilities of ‘trustless’ data (information without intermediaries), smart contracts, and IoT technologies, VeChainThor has enabled enterprise solutions across a wide array of fields.

VeChain now turns its attention to the greatest challenge of all — building digital ecosystems to drive sustainability and digital transformation at global scale.

Learn more on vechain.org