Tuesday, February 18, 2025

VeBetterDAO Unveils VePassport for Enhanced Decentralized Governance

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VeBetterDAO has announced the introduction of a new core mechanism, ‘VePassport,’ as it enters its second epoch. VePassport is a decentralized identification framework designed to provide a secure, Sybil-resistant environment, enhancing the governance experience within the Better ecosystem. This new feature aims to ensure that users are genuine and properly rewarded for sustainable actions.

The VePassport is tied to a VeWorld Wallet address within VeBetterDAO, linking user activities, assets, and other elements to create a reliable, decentralized profile on the platform. As the ecosystem grows, decentralized governance will require more robust identity disclosures to ensure fair voting and decision-making. The core goal of VePassport is to reduce Sybil farming within the governance process, ensuring that voting and associated rewards are free from manipulation and fairly distributed.

New Features and Updates

Alongside VePassport, VeBetterDAO’s latest update introduces several new features and adjustments, including changes to user experience (UX) and quorum levels. The update also reintroduces Quadratic Voting, Rewarding, and Funding mechanisms. Quadratic formulas are intended to reduce the impact of whales and promote more efficient outcomes by discouraging strategic voting, ensuring that every stakeholder, regardless of size, can have a meaningful impact.

To qualify for governance rewards, users will need to generate Sustainability Proofs (S-Proofs), which are on-chain records of real-world impact created via the use of X-Apps. This cycle encourages users to drive their favorite X-Apps to incorporate the feature, generating more robust, verifiable activity across the platform. A new ‘Better Actions’ tab has been added to the UX, detailing a user’s sustainability record in a visual format.

Governance and Community Engagement

The governance quorum level has been lowered from 51% to 30% to encourage more community engagement in the governance process, helping meaningful proposals reach the necessary levels. Additionally, the X-App Bot and Sybil signaling system is an optional feature that allows X-Apps to flag suspicious wallets, providing a way for X-Apps to share information and ensure rewards and votes are directed to legitimate users.

These updates, including VePassport, are important steps toward the future goals of VeBetterDAO, aiming to become a leading platform for mass adoption of blockchain and real-world impact. More details about these changes can be found 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.
Shree Narayan Jha
Shree Narayan Jha
Shree Narayan Jha is a tech professional with extensive experience in blockchain technology. As a writer for CoinsHolder.com, Shree simplifies complex blockchain concepts, providing readers with clear and insightful content on the latest trends and developments in the industry.

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