VeChain, a leading blockchain platform, has achieved a significant milestone with the approval of a proposal relating to Quadratic voting or funding on its VeBetterDAO. This marks a pivotal moment for the platform as it moves towards a more decentralized and community-driven governance model.
The proposal, which garnered support from over 13.3 million VOT3 tokens, paves the way for the implementation of several innovative features. These include Quadratic funding, Proof of Sustainable Work, X-Nodes endorsement, and GM NFT upgrades.
Quadratic voting, a unique mechanism employed by VeBetterDAO, ensures that user votes have a proportional impact on decision-making. By using quadratics to calculate effective voting power, the platform empowers participants to express stronger preferences on issues they prioritize, preventing single individuals from dominating the outcome. This fosters a more inclusive and innovative environment within the broader tech industry.
In addition to Quadratic voting, VeChain’s Proof of Sustainable Work introduces a minimum value score for using Better apps. This incentivizes app usage and transactions, leading to increased user rewards and overall platform improvement.
The recent mainnet launch of VeBetterDAO has laid the groundwork for these sustainable implementations and features. This launch enabled the commencement of the 12-year tokenomics structure and allocated 2 million B3TR pool weekly to Decentralized Applications (DApps).
VeChain has consistently demonstrated its commitment to addressing global challenges through its energy-efficient blockchain technology. The network’s 2022 carbon footprint was calculated to be 4.46 t CO2e/year, making it one of the most environmentally friendly blockchains.
As VeBetterDAO continues to evolve, the platform is expected to introduce several new features, including a dApp listing validator mechanism, staking programs, and the ability to unlock higher tiers of GM NFTs. These enhancements will further strengthen VeChain’s ecosystem and attract more users and businesses.
With the approval of Quadratic voting and the implementation of these innovative features, VeChain is poised to solidify its position as a leading blockchain platform and contribute to a more sustainable and decentralized future.
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.
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