VeBetterDAO

Organization Name – VeBetterDAO

Category – Experiences

About

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VeBetterDAO claims to be a decentralized autonomous organization (DAO) built on the VeChain blockchain, aiming to create a more sustainable and transparent ecosystem. According to their documentation,… the DAO operates on a governance model where members use tokens to propose and vote on initiatives, shaping the platform’s future direction​

VeBetterDAO claims to function through a governance process where users propose changes, vote on them using VOT3 tokens, and execute approved proposals. The voting process is designed to be democratic, requiring a quorum of at least 30% of the total VOT3 supply for decisions to pass​

Additionally, governance decisions are subject to a timelock mechanism, which allows members to withdraw before decisions take effect if they disagree with them​

The DAO operates with two primary tokens: B3TR – An incentive token used for rewards, treasury management, and sustainability initiatives. It is also used to back the governance token.
VOT3 – A governance token required for participating in the DAO’s decision-making processes​

VeBetterDAO also runs allocation rounds where users stake tokens to distribute resources among approved projects. Voters are incentivized with rewards regardless of how they vote, which they can claim in subsequent rounds​

VeBetterDAO claims to use various smart contracts to manage governance, token issuance, treasury operations, and voting rewards. These contracts supposedly feature upgradability and security measures such as access controls and reentrancy protection​

One notable feature of their ecosystem is VePassport, a decentralized identity verification system designed to prevent Sybil attacks (where multiple fake identities manipulate a system). VePassport supposedly assesses users based on proof of participation, proof of investment, and other criteria to determine if a wallet belongs to a real person or a bot​

VeBetterDAO promotes an “X2Earn” model, where users can participate in sustainability-focused dApps (decentralized applications) to earn rewards. These applications are integrated into the VeBetterDAO ecosystem, and token allocations are determined through governance votes​

While VeBetterDAO presents itself as a decentralized and democratic platform, the extent of its decentralization remains unclear. Like many DAOs, its actual distribution of power could be influenced by large token holders. Furthermore, the effectiveness of its security measures and governance model would depend on real-world adoption and external audits.

In summary, VeBetterDAO claims to be a blockchain-based governance and incentive platform focusing on sustainability and decentralized decision-making. However, independent verification of their claims would require further scrutiny from blockchain analysts and external sources. Read More