The post VeChain News: VeBetter DAO Enhances Sybil Protection with VePassport, Reduces Token Inflation appeared on BitcoinEthereumNews.com.

VeBetter has removed quadratic voting, funding, and rewarding mechanisms to combat sybil farming and improve system stability. The VePassport is set to launch soon, enhancing sybil resistance and encouraging user engagement. The VeBetter ecosystem has made significant strides this week, implementing essential changes to improve functionality and address ongoing challenges. In a recent post on X, the team remained committed to enhancing the platform by focusing on technical updates and tokenomic adjustments. The VeBetter ecosystem keeps marching forward! Our team are working hard to improve the platform, and this week, some other notable changes took place. Technical:As per the recently approved proposal, we have temporarily removed the quadratic voting, funding, and rewarding… pic.twitter.com/nzhwBBUaFD — VeChain (@vechainofficial) October 2, 2024 In response to concerns about Sybil farming, the VeBetter team has temporarily suspended quadratic voting, funding, and rewarding mechanisms. This comes after a recent move that was made in a bid to stabilize the ecosystem. The system has exhibited stability and the expected performance in the recent rounds, thus proving the efficacy of this measure. Among the technical changes, the most significant is the planned launch of the VePassport. This solution solves the problem of sybil attack and preserves the benefits of quadratic mechanisms. By reducing farming, VePassport aims to foster greater engagement within the ecosystem. The VePassport is expected to revolutionize the platform and protect against manipulative behaviors that may compromise the platform’s goals. In addition, the VeBetter ecosystem has made changes to the project’s token issuance plan. After the first DAO epoch, the team decided to decrease token issuance for the first time. This is in line with the overall plan of controlling the token inflation within the twelve-year issuance period of B3TR. VeBetterDAO Leverages B3TR Token to Incentivize Sustainable Practices During a recent podcast on Untangling Web3, the…

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Filed under: News - @ October 7, 2024 12:54 am