Key Updates and Next Steps
The post Key Updates and Next Steps appeared on BitcoinEthereumNews.com.
VeBetterDAO is matching up to Sybil attackers with a new solution. The VeChain is set to release new updates to enhance ecosystem functionalities. Vechain’s VeBetterDAO has unveiled a new solution called VePassport to address issues relating to sybil farming on the platform. Alongside VePassport, VeBetterDAO also outlined key updates, including GM NFT upgrades, node endorsements, and the next steps for VeChain. VePassport to Go Live on October 18 VeChain noted that Sybil’s attackers keep trying to fool the VeBetterDAO platform. Notably, Sybil farming occurs when malicious actors imitate healthy blockchain activity from multiple accounts belonging to one person or team. Therefore, the VePassport launch aims to filter fake users and reduce Sybil farming. The launch, scheduled for October 18, also marks the return of Quadratic funding, voting, and reward mechanisms. Upon launching, users must meet additional requirements to be eligible for weekly governance rewards. VePassport presents two routes for meeting minimal requirements and qualifying for governance rewards. Users must acquire a ‘Moon’ tier GM Non-Fungible Token (NFT) for the first route. Acquiring the Moon GM NFT also positively impacts users’ weekly reward ratios. The second way to qualify for weekly governance rewards is to perform at least three actions on the VeBetter apps at least three times over 12 weeks. VeChain emphasized that these values may change over time in response to suggestions and comments from the community. Another major development coming to the platform is the X/Economic Node app endorsement feature. This feature is expected to roll out on October 25. As announced, it will allow Node holders to act as validators and qualifiers for X2Earn Applications in later versions of VeBetterDAO. Notably, applications must have a minimum approval score of 100 points as a vital condition to debut on the platform. This procedure guarantees that only genuine apps…
Filed under: News - @ October 8, 2024 1:25 am