VeChain Showcases DAO Governance Model as VeBetter Vote Results in Blacklisting
- VeChain blacklists four applications after a community proposal showing that the VOT3 token can directly trigger on-chain actions.
- The proposal cited documented issues, including failed reward distribution, fund misuse, voting manipulation, and much more.
Vechain made an announcement noting that they have blacklisted several applications as part of its VeBetter governance framework. This decision comes after the approval of a community proposal and after the VeBetter DAO voted in favor of the proposal. It has led to the on-chain application of the outlined measures.
VeChain said the move shows the effectiveness of its decentralized governance model. This is where community participation directly translates into protocol-level actions. According to the network, the outcome highlights the growing role of token-holder voting in shaping ecosystem standards and accountability.
VeChain thanked community members for participating in the vote. It noted that the process showcased the practical strength of VeBetter’s DAO governance infrastructure.
VeChain Proposal Seeks to Protect VeBetter DAO Ecosystem
VeChain has outlined a governance proposal calling for multiple on-chain actions. The purpose behind it is to protect the integrity of the VeBetterDAO ecosystem.
As part of this plan, four apps from the VeBetterDAO app listings will be immediately blaclisted. This includes names like vePet, VeDreamHome, VeMeal, and EatGreen. Besides, the plan aims to permanently destroy Creator NFTs connected to EatGreen and VeMeal.
The request comes following VeChain described as documented instances of misconduct. The proposal notes that vePet failed to distribute user rewards and redirected the funds to an exchange. Moreover, VeDreamHome faces blame of engaging in large-scale automated voting manipulation.
VeMeal is named in the blacklisted due to financial mismanagement and project cancellations. On the other hand, incentive farmers have exploited EatGreen, and so it is not secure for further use.
In order to prevent future misuse of community resources, VeChain plans to delete the apps and destroy the associated Creator NFTs. Additionally, it will prevent abuse of governance and ensure that the ecosystem’s worthy consumers and developers receive incentive benefits.
VeBetter Has a Dual Token Ecosystem With B3TR and VOT3
The VeBetter platform from Vechain has a dual-token ecosystem, consisting of B3TR and VOT3 tokens. Together, they offer incentives and governance within the ecosystem.
B3TR is the primary incentive token for VeBetter, as mentioned by CNF. It is used for general reward distribution, including VeBetter Treasury management. B3TR also acts as a value and monetization layer for active participants and business-driven applications. The token also functions as an incentive mechanism for sustainability-focused applications built within the ecosystem. In addition, B3TR backs the VOT3 governance token on a one-to-one basis.
VOT3 functions as the governance token of the VeBetter ecosystem. It is required for participation in on-chain governance processes and proposals. VOT3 is directly convertible with B3TR on a one-to-one basis. Thus, users can switch between the incentive and governance tokens as needed.
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