VeChain Tackles Sybil Farming With VePassport – 2 New Paths To Earn Rewards, Node Endorsements Rolling Out Soon

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VeChain’s VeBetterDAO has rolled out a robust solution to tackle Sybil farming on its platform with the introduction of VePassport, a strategic initiative set to launch on October 18. The VeBetterDAO team revealed this new feature alongside several key updates, including GM NFT upgrades, node endorsements, and upcoming steps for VeChain’s ecosystem growth.

Sybil Farming Threat Addressed With VePassport

Sybil farming is a growing concern in decentralized platforms like VeBetterDAO, where malicious actors create multiple fake accounts to manipulate activity and governance rewards. These fraudulent practices undermine the integrity of decentralized systems by inflating activity metrics.

To counter this, VePassport is designed to filter out fake accounts and restrict Sybil farmers. By enforcing additional requirements for users seeking to claim governance rewards, VeChain aims to restore authenticity to its governance processes. The launch of VePassport marks the return of Quadratic funding, voting mechanisms, and rewards, with enhanced security features.

Users must now meet specific criteria to qualify for governance rewards, which VePassport tracks and verifies. Two key pathways have been established:

1. Moon GM NFT Acquisition: The first method to qualify involves purchasing a Moon-tier GM NFT, which also boosts users’ weekly reward ratios.
2. VeBetter App Actions: Alternatively, users can perform at least three actions on VeBetter apps across a 12-week period. These actions ensure sustained engagement and authentic participation in the ecosystem.

VeChain has noted that these requirements may evolve based on community feedback, showcasing the platform’s commitment to decentralized governance.

Node Endorsements and App Validation

Another major update slated for October 25 is the introduction of the X/Economic Node endorsement feature. This feature will empower node holders to serve as validators for X2Earn applications, with a scoring system that ensures only legitimate apps gain endorsement. Applications must meet a minimum score of 100 points to qualify, safeguarding the platform’s ecosystem from illegitimate entries.

On November 8, VeChain will roll out GM NFT upgrades, offering users higher-tier NFTs tied to greater weekly payouts. Node holders will be able to claim these higher-tier NFTs, while non-node holders can upgrade using B3TR tokens, providing flexibility and increased incentives for active participants.

Strengthening Community Governance with B3TR and VOT3 Tokens

VeBetterDAO’s evolution extends beyond app endorsements and NFT upgrades. At the core of its governance structure lies the B3TR token, designed to foster sustainability and user engagement. Through VOT3, the governance token within the VeBetterDAO ecosystem, users can participate in key decision-making processes by voting on project proposals and other developments.

Also Read: VeChain Boosts Supply Chain Transparency By 40% With Blockchain & IoT Integration

VOT3 reinforces VeChain’s mission of empowering its community to take a more active role in shaping the blockchain’s future. By staking their tokens, users gain voting power, which strengthens the decentralized governance model VeChain envisions.

VeChain’s VePassport launch is a critical move to combat Sybil farming, while upcoming features like GM NFT upgrades and node endorsements are set to further enhance the VeBetterDAO ecosystem. With a strong emphasis on governance, sustainability, and user engagement through B3TR and VOT3 tokens, VeChain continues to lead the charge in blockchain innovation and community-driven progress.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.