VeChain introduces VePassport and outlines future initiatives for VeBetterDAO

Looking to stay ahead of the curve in the crypto world? VeChain, a pioneer in enterprise blockchain solutions, recently announced some game-changing updates to its VeBetterDAO ecosystem. One of the highlights is the introduction of VePassport, a revolutionary feature designed to tackle sybil farming and enhance governance within the platform, as shared by VeChain Official.

VePassport – Revolutionizing Governance

Scheduled to launch on October 18, VePassport will set specific qualification criteria for users to qualify for weekly governance voting rewards. This strategic move aims to weed out fake users and combat sybil farming, thus reinforcing the Quadratic funding, voting, and reward mechanisms. Users can meet the criteria by obtaining a ‘Moon’ tier GM NFT or by engaging in specific actions across VeBetter apps over a 12-week period.

GM NFT Upgrades for Enhanced Rewards

In another exciting development, GM NFT upgrades are set to roll out on November 8. This feature will enable X Nodes and Economic Nodes to access higher tiers of GM NFTs, linked to increased weekly rewards. Even non-Node holders can level up their NFTs by using accumulated B3TR tokens.

Empowering Node Holders with Endorsements

By October 25, VeChain will introduce a new endorsement feature for X/Economic Node holders. This feature allows Node holders to play a critical role as validators and qualifiers for X2Earn Applications, fostering a collaborative ecosystem. Applications must meet a minimum approval score of 100 points to be endorsed, ensuring only quality apps make the cut.

Community-Led Governance for a Sustainable Ecosystem

VeChain’s focus on decentralization shines through its commitment to giving the community more say in decision-making within VeBetterDAO. This move aligns with VeChain’s overarching goal of building a sustainable ecosystem powered by blockchain technology.

Discover VeChain

Since its inception in 2015, VeChain has made a mark as a leading enterprise smart contract platform, renowned for its VeChainThor blockchain. In collaboration with Boston Consulting Group, VeChain launched the ‘Better’ ecosystem, promoting sustainability through tokenization and incentivization.

For further insights into VeChain and its groundbreaking initiatives, be sure to explore their official website.

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