In the rapidly evolving world of blockchain technology, VeBetterDAO emerges as a beacon of innovation, combining decentralisation with sustainability.
Built on the robust VeChainThor platform, VeBetterDAO aims to redefine how communities interact with and benefit from blockchain technologies.
This article will discuss the core aspects of VeBetterDAO, explaining its functionality, connection to VeChain, and the integral role of the VET token.
What is VeBetterDAO?
VeBetterDAO represents a new era in decentralised autonomous organisations (DAOs), focusing on leveraging blockchain technology to promote sustainable practices.
The DAO operates on the VeChainThor blockchain, a platform renowned for its enterprise-grade capabilities and real-world applications.
VeBetterDAO empowers individuals and communities to participate actively in sustainability initiatives, rewarding their efforts through an innovative tokenomics system.
The core vision of VeBetterDAO is to create a comprehensive ecosystem where sustainable actions are incentivised and transparent governance is practised.
By integrating the principles of Web3, VeBetterDAO aims to shift the paradigm from traditional internet models to a more equitable, user-centric approach where data ownership and value distribution are paramount.
How Does it Work?
VeBetterDAO functions through a multi-token system comprising the B3TR incentive and VOT3 governance tokens. The DAO’s operations are structured around three main components: Tokenomics, X-2-Earn applications, and governance.
The B3TR token serves as the primary incentive mechanism within the VeBetterDAO ecosystem. It rewards users for participating in various sustainability-related activities and governance processes.
The total supply of B3TR is capped at 1 billion tokens, distributed over 12 years to ensure long-term ecosystem support. Users can earn B3TR tokens through airdrops, participation in X-2-Earn applications, and community engagement activities.
The VOT3 token, on the other hand, is used for governance purposes. Users need VOT3 tokens to participate in voting events, propose new initiatives, and influence the allocation of newly minted B3TR tokens.
The governance model is designed to be fair and inclusive, with a quadratic voting mechanism to ensure that voting power is equitably distributed among participants, preventing dominance by large token holders.
At the heart of VeBetterDAO’s incentive structure are X-2-Earn applications. These are decentralised applications (dApps) that reward users for engaging in sustainable practices.
The ‘X’ in X-2-Earn stands for various actions that contribute to sustainability, such as planting trees (Plant-2-Earn), exercising (Sweat-2-Earn), or other environmentally beneficial activities.
Each application follows three guiding principles: meaningfulness, feasibility, and value creation, ensuring that user efforts contribute to collective sustainability goals.
VeBetterDAO employs a decentralised governance model, allowing community members to propose and vote on initiatives. This model is underpinned by a strategic roadmap that includes an initial governance stabilisation period to ensure robustness and security.
During this period, the VeChain Foundation retains the ability to intervene in case of technical issues or exploits. Once stabilised, full governance control is transitioned to the community through bi-annual voting events.
Quadratic voting further enhances the governance model by balancing voting power and promoting more equitable decision-making. This system adjusts the influence of votes based on the number of tokens held, ensuring that larger token holders do not disproportionately sway decisions.
B3TR and VOT3 Tokens
The VeBetterDAO ecosystem revolves around two primary tokens: B3TR and VOT3. B3TR is the incentive token used to reward participants within the VeBetterDAO ecosystem.
It serves multiple purposes, including incentivizing community engagement, supporting sustainability projects, and fostering innovative enterprise models.
B3TR tokens are earned through active participation in the DAO’s activities, such as contributing to sustainability projects, voting, and other forms of community involvement.
VOT3 is the governance token of VeBetterDAO. Holders of VOT3 tokens have the right to participate in governance activities, such as voting on proposals, deciding on B3TR token allocations, and influencing the overall direction of the DAO.
VOT3 tokens are obtained by swapping B3TR tokens at a 1:1 ratio, ensuring that active contributors to the ecosystem have a say in its governance.
In addition to B3TR and VOT3, the VeChainThor blockchain also utilises the VTHO token. VTHO (VeThor Token) is used to pay transaction fees and the execution of smart contracts on the VeChainThor blockchain.
This dual-token system, with VET as the primary value-transfer token and VTHO for transaction costs, ensures efficient and low-cost operations on the network, further enhancing the functionality and sustainability of the VeBetterDAO ecosystem.
How Does it Connect to VeChain and VET Token?
VeBetterDAO is intrinsically linked to the VeChainThor blockchain and the VET token, leveraging VeChain’s established infrastructure and enterprise partnerships.
VeChainThor provides the technical foundation for VeBetterDAO, ensuring scalability, security, and efficiency in executing blockchain operations.
The VET token, VeChainThor’s native cryptocurrency, plays a pivotal role in the VeBetterDAO ecosystem. It is used to facilitate transactions, deploy smart contracts, and participate in the network’s consensus mechanism.
VET holders are integral to the validation and qualification of X-2-Earn applications, ensuring that only high-quality, impactful projects receive support and funding.
By aligning with VeChain’s broader ecosystem, VeBetterDAO benefits from a network of enterprise partners and existing use cases, ranging from supply chain management to carbon credit tracking.
This synergy not only enhances the credibility and reach of VeBetterDAO but also ensures that sustainability efforts are deeply embedded within real-world business operations.
Conclusion
VeBetterDAO stands at the forefront of combining blockchain technology with sustainability, offering a pioneering model for decentralised governance and community-driven impact.
Through its innovative tokenomics, incentivizing X-2-Earn applications, and robust governance framework, VeBetterDAO empowers individuals and enterprises alike to contribute to a more sustainable future.
As part of the VeChain ecosystem, VeBetterDAO leverages the strengths of the VeChainThor blockchain and the VET token, ensuring a seamless integration of technological prowess and environmental consciousness.
This convergence of blockchain and sustainability not only highlights the potential of decentralised systems to drive positive change but also sets a precedent for future initiatives in the Web3 space.
