Leaders of enterprise blockchain project VeChain have taken groundbreaking steps to position the network at the forefront of global sustainability efforts.
VeChain CEO Sunny Lu unveiled the new VeBetterDAO platform at Mobile World Congress 2024. This marks the next evolution of VeChain’s commitment to enabling positive change through innovative blockchain solutions.
TLDR
- VeChain has launched VeBetterDAO, an innovative sustainability platform focused on rewarding users with B3TR tokens for taking real actions.
- An extensive B3TR airdrop campaign is underway to secure and engage the initial user base ahead of the full mainnet launch in July.
- The platform features a dual-token model with B3TR, an incentive token earned by users, and VOT3, used for governance over ecosystem fund allocation.
- Based on a scalable token-based incentive structure, VeBetterDAO can reach 1 million daily active users within the next few years and 1 billion by the end of the decade.
- This launch leverages VeChain’s existing enterprise partners and establishes VeChain as the leading global blockchain for next-generation sustainability efforts.
Centered around a pioneering token-based incentive structure, VeBetterDAO aims to motivate and reward sustainable behavior from both businesses and individual users. The “X-to-Earn” model allows any type of sustainability effort to be monetized with newly minted B3TR tokens as a tangible incentive mechanism. For example, the tree planting application allows users to earn B3TR tokens every time they plant a tree.
To kick-start platform activity and token distribution, VeChain is conducting an extensive B3TR airdrop campaign across social media to build an initial base of participating users. A total of 1 million B3TR tokens will be given away to community members over the next four months through channels such as Gleam giveaways and listening to live AMA sessions.
We are very excited to announce the launch of a new product. #sustainability Platform – VeBetterDAO – with two new tokens $B3TR and $VOT3!
VeBetterDAO was built to drive adoption of Web3 technologies by enabling a cross-industry sustainability dApp ecosystem. pic.twitter.com/wFhxm30SeY
– VeChain (@vechainofficial) February 28, 2024
The airdrop leverages the already active 300,000+ member VeChain community to prepare the ecosystem for an influx of sustainability apps and active users when VeBetterDAO transitions to mainnet by July 2024. All testnet B3TRs earned during this ramp-up phase will be carried over to 1. When the actual tokens are released, the ratio will be 1:1, giving users a head start on winning stakes.
What drives VeBetterDAO is the dual token interaction between B3TR and its accompanying governance token VOT3. B3TR serves as a general incentive token earned by users for activities across integrated sustainability dApps. Applications can utilize decentralized B3TR for purposes such as user rewards, project funding, marketing, etc.
VOT3 plays a key role in decentralizing decision-making and value distribution within mature platforms. Users can trade B3TR 1:1 to vote on where the newly minted B3TR should go each week. In a unique circular loop, VOT3 also determines user reward allocation.
This governance-based distribution of ecosystem funds will allow the community to collectively guide the evolution of VeBetterDAO based on which sustainability apps demonstrate the most real impact and value creation. Over time, design attracts more mature and meaningful sustainability use cases from conscious developers and innovative companies.
Considering the breadth of sustainability areas such as healthcare, education, environmental conservation, ethical labor practices, and everything in between, the potential scale of this tokenized incentive engine is enormous. VeChain expects its user base to reach 1 million daily active members over the next few years and grow to 1 billion by the end of the decade.
This exponential adoption will be fueled by leveraging VeChain’s existing roster of enterprise partners through robust B2C sustainability engagement channels. Retail giant Walmart China could integrate a plastic offset program, and automaker BYD could create an EV ride-sharing app. The options for conscious brands to build CSR appeals and customer loyalty programs based on the turnkey X-2-Earn template are endless.
As more users arrive and sustainability apps proliferate, the surrounding VTHO token economy also gets an indirect boost through surging blockchain activity and transactions.
This complements VeChain’s existing staking mechanism centered around VET and node layers. In many ways, the launch of VeBetterDAO could be an inflection point that solidifies VeChain as the de facto global blockchain for next-generation sustainability.
