VeChain Unveils the Endorsement Mechanism on the VeBetterDAO Network to Facilitate Transparency

As earlier disclosed by CNF, VeChain (VET) has finally unveiled the Endorsement mechanism on the VeBetterDAO network to facilitate transparency by empowering all stakeholders.

CNF earlier reported that VeChain (VET) has finally unveiled the Endorsement mechanism on the VeBetterDAO network, a move set to empower stakeholders.

As per the recent announcement, new app creators can now submit application forms on the platform to begin their entry into the ecosystem. Upon approval, a Creator’s NFT will be awarded to formally enable them to submit their apps for endorsement through the platform.

According to the platform's rules, apps will go through three phases before becoming eligible for the weekly allocation round. In the first phase, apps must obtain a minimum score of 100 points to qualify for active participation. They will have a grace period of two weeks from the start of Round 21 to achieve this goal.

Our investigation reveals that scoring will be largely based on endorsements from Economic and X nodes. Notably, apps can receive endorsement from multiple nodes to reach the required level.

In cases where an app’s score drops below 100 points, it will enter a two-week grace period to recover. Furthermore, an app will have two weeks to find a new endorsement if a node decides to remove its vote.

App creators are also permitted to offer rewards in the form of tokens, shares, prizes, exclusive features, experiences, etc., to node holders who endorse their apps.

During this time, the app remains active but must regain the required score; otherwise, it will be marked inactive for allocation rounds after the grace period. However, inactive apps will still be visible in the app section, allowing them to continue seeking endorsements.

Both nodes and apps can withdraw endorsements. If a node removes its endorsement and the app’s score falls below 100, the app has two weeks to secure new endorsements.

Economic and X Node holders are now at the heart of VeBetterDAO’s app endorsement mechanism. By logging into the VeBetter platform and connecting their wallet, Node holders can explore apps and provide endorsement as they see fit.

Node holders are invited to join a dedicated Discord channel where they can connect to our bot and access a special channel for communicating directly with app creators on topics ranging from app objectives to potential impact before making endorsement decisions.

At press time, VET was trading at $0.032 after surging by 1.85% in the last 24 hours.