The leaders of enterprise blockchain project VeChain have made a landmark move to position their network at the forefront of global sustainability efforts.
VeChain CEO Sunny Lu unveiled the new VeBetterDAO platform at Mobile World Congress 2024, marking the next evolution of VeChain’s commitment to enabling positive change through innovative blockchain solutions.
TLDR
- VeChain has launched VeBetterDAO, an innovative sustainability platform centered around rewarding users with B3TR tokens for taking real-world actions.
- Extensive B3TR airdrop campaigns are underway to seed an initial user base and drive engagement ahead of the full mainnet launch in July.
- The platform features a dual-token model with B3TR as the incentive token earned by users and VOT3 used for governance over ecosystem funding allocations.
- VeBetterDAO could reach 1 million daily active users in the next few years and 1 billion by the end of the decade based on its scalable token-based incentive structure.
- The launch taps into VeChain’s existing enterprise partners and could cement 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 actions by both enterprise and individual users. The “X-to-Earn” model allows any type of sustainability effort to be monetized into newly issued B3TR tokens as a tangible incentive mechanism. For example, a tree-planting application could let users earn B3TR tokens for each tree planted.
To kickstart platform activity and token distribution, VeChain is conducting expansive B3TR airdrop campaigns over social media to seed an initial base of engaged users. A full 1 million B3TR tokens will drop to community members over the next 4 months through channels like Gleam giveaways and listening to live AMA sessions.
We’re incredibly excited to announce the launch of our new #sustainability platform – VeBetterDAO – alongside two new tokens $B3TR and $VOT3!
VeBetterDAO is built to become the enabler of a cross-industry sustainability dApp ecosystem, driving adoption of Web3 tech across… pic.twitter.com/wFhxm30SeY
— vechain (@vechainofficial) February 28, 2024
The airdrops tap into the already vibrant 300,000+ member VeChain community, priming the ecosystem for an influx of sustainability apps and active users when VeBetterDAO transitions to mainnet by July 2024. All testnet B3TR earned during this ramp-up phase will carry over at a 1:1 ratio when real tokens launch, giving users a head start in earning stakes.
Driving VeBetterDAO is the dual-token interplay between B3TR and accompanying governance token VOT3. B3TR acts as the general incentive token, earned by users for activity across integrated sustainability dApps. Applications can utilize distributed B3TR for purposes like user rewards, project funding, marketing, etc.
VOT3 plays a key role in decentralizing decision-making and value allocation within the maturing platform. Users can swap B3TR 1:1 to obtain voting power over where newly minted B3TR should be directed each week. In an ingenious circular loop, VOT3 also determines user reward allocations.
This governance-based dispensation of ecosystem funding allows the community to collectively guide VeBetterDAO’s evolution based on which sustainability apps demonstrate the most real-world impact and value creation. Over time, the design attracts ever more mature and meaningful sustainability use cases from conscious developers and innovative companies.
The potential scale of this tokenized incentive engine is immense given the breadth of sustainability areas like healthcare, education, environmental conservation, ethical labor practices, and everything in between. VeChain anticipates the userbase could reach 1 million daily active members over the next few years, rising to 1 billion members by the end of the decade.
Such exponential adoption would be boosted by tapping into VeChain’s existing slate of enterprise partners through compelling B2C sustainability engagement channels. Retail giant Walmart China could integrate a plastic offset program, while automaker BYD might create an EV car sharing app. The options are endless for conscious brands to build CSR appeal and customer loyalty programs atop the turnkey X-2-Earn template.
As more users pour in and sustainability apps proliferate, the surrounding VTHO token economy also receives an indirect boost from surging blockchain activity and transactions.
This complements VeChain’s existing staking mechanisms centered around VET and node tiers. In many ways, the launch of VeBetterDAO may mark an inflection point that cements VeChain as the de facto global blockchain for next-generation sustainability.
