KEY TAKEAWAYS
- VeBetterDAO introduces an ‘Endorsement’ mechanism to enhance platform governance and decentralize the Better ecosystem.
- Economic and X node holders now play a crucial role in decision-making, shifting responsibility from the VeChain Foundation to the community.
- New app creators can submit applications for endorsement, receiving a Creator’s NFT to participate in the ecosystem.
- The endorsement process fosters transparent and collaborative interactions among key ecosystem participants.
This week, VeBetterDAO announced the introduction of an ‘Endorsement’ mechanism designed to enhance platform governance and decentralize the Better ecosystem. The new feature allows Economic and X node holders to play a more active role in decision-making processes.
In the initial phase, applications must achieve a minimum score of 100 points, awarded by nodes, to participate in weekly allocation rounds. This scoring system empowers the community to drive quality and reliability across the VeBetterDAO platform. The endorsement process facilitates transparent and collaborative interactions among key ecosystem participants, aligning interests towards the platform’s future.
Empowering Node Holders and App Creators
The endorsement mechanism marks a significant step towards decentralizing decision-making within the Better ecosystem. It shifts the responsibility of selecting eligible apps for the platform from the VeChain Foundation to the community. Economic and X node holders are encouraged to engage with builders and the community to drive the platform forward.
With endorsements now live, each app in the VeBetterDAO ecosystem requires a total score of 100 to qualify for allocation rounds. Apps have a two-week grace period from the start of Round 21 to achieve this score. Scoring is based on endorsements from Economic and X nodes, with each tier contributing specific values. Apps can receive endorsements from multiple nodes, allowing them to accumulate points gradually.
Application Process and Community Interaction
New app creators can begin their journey with VeBetterDAO by submitting an application form on the platform. Upon approval, they receive a Creator’s NFT, enabling them to submit their app for endorsement and join endorsement channels on Discord. The Creator’s NFT, a non-transferable ERC721 token, is minted for first-time app submissions.
Node holders can explore apps and provide endorsements by logging into the VeBetter platform and connecting their wallet. They are invited to join a dedicated Discord channel for direct communication with app creators. This interaction allows for discussions on app objectives and potential impacts before making endorsement decisions.
For more details on the endorsement mechanism and its impact on the VeBetterDAO platform, visit the official announcement here.
Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
