Amid the current buzz of meme coins and flashes in the pan-type tokens, there is now a breed of projects such as VeChain's VeBetterDAO.
Amid the current fanfare surrounding meme coins and short-lived tokens, a new type of project is emerging, such as VeChain’s VeBetterDAO. This initiative aims to introduce tangible utility alongside sustainable development goals, according to a recent CNF report.
VeBetterDAO is spearheading this shift through decentralized applications (dApps) that reward pro-environmental behaviors. Furthermore, its native asset, the B3TR token, will play a pivotal role in this journey.
In today’s cryptocurrency landscape, many tokens offer high returns but lack any real-world utility. This situation highlights the need for practical projects that can positively impact society’s well-being. To address this gap, VeBetterDAO is leveraging blockchain technology to incentivize people to take sustainable actions. Unlike hype-driven tokens, the B3TR token has clear and specific objectives.
VeChain’s VeBetterDAO Focuses on Real-World Actions
VeBetterDAO shifts the focus away from simply holding or staking a token and instead emphasizes using the application for taking tangible actions in the real world. The ecosystem’s operations are powered by an “X-to-Earn” solution, where stakeholders can earn B3TR tokens for participating in sustainable activities, as outlined in the CNF report.
The ecosystem comprises several apps that aim to raise environmental awareness. For example, Mugshot aims to eliminate the use of plastic and paper cups in the coffee industry, while Cleanify encourages participants to engage in cleaning activities and rewards them for their efforts.
Furthermore, Greencart encourages people to shop sustainably when buying groceries, and the Non-Fungible Book Club urges people to read their books online to save paper. Notably, these apps also offer substantial rewards within the system.
B3TR: The Sustainability Token
The B3TR token is the driving force behind VeBetterDAO’s vision, as it embodies the ethos of the project and enables the achievement of its objectives. In addition to compensating users for their green behaviors, the token also serves as an agent of governance. This will allow users to collectively decide on the major plan in the ecosystem using VOT3 tokens for voting.
The token plays a dual role in both the reward and governance systems. This creates a strong incentive for users to engage with the platform. Essentially, users can earn B3TR by purchasing sustainable products or reducing their own carbon footprints. Moreover, they can also decide which specific green projects are worthy of funding.
As is typical in tokenized governance setups, the fate of the platform ultimately lies in the hands of token holders. In VeBetterDAO, this power is denoted as Voting Power of Tokenization 3 (VOT3), which leaves no doubt about the functional value of tokens. By locking these tokens, users gain the ability to vote on project proposals.
From this perspective, the model allows users to take an active role toward the sustainability goal. In the same vein as collecting virtual rewards in games, VeBetterDAO ensures that sustainability becomes an engaging and enjoyable process for various community-driven climate initiatives, as reported by CNF.
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