VeChain Launches VeBetter DAO to Drive Sustainability and VET Adoption

• VeChainThor has introduced VeBetter and the price of VET is expected to rise.
• VeBetter is a DAO focused on tokenization of sustainable actions.
• Since November last year, VET has jumped only 0.5%.

VeChainThor, or VeChain, an L1 smart contract platform has entered the sustainability market with the launch of VeBetter in a bid to positively impact its native token VET.

VeBetter, a decentralized autonomous organization (DAO), will use tokens to represent sustainability actions. This will make it easy “to record, verify, and—most importantly—reward each positive contribution.”

VeChain will play a major role in the initiative because it is able to record and process transactions at minimal costs and provides an alternative to traditional systems which “struggle to track and value every small action.” 

According to a post on X (formerly Twitter), VeBetter will allow the conversion of each contribution to sustainability into a verifiable piece of data, “recorded securely and transparently” with minimal overhead expenses. 

Tokenizing Sustainability Actions

Every action, from charging an EV to the reduction in the usage of disposable consumables, will be tracked and tokenized, rewarding those who make efforts towards a cleaner future. The tokens can be used, redeemed, or traded, resulting in the transformation of sustainability and “putting it on par with traditional financial assets,” said VeChain.

VET Price Performance

Until now, despite the broader digital asset market skyrocketing in the past few days and Bitcoin making a new all-time high, VET has underperformed, dropping 0.5% in the past 24 hours and currently trades at $0.02173. The cryptocurrency is down a whopping 92.16% from its ATH of $0.2782 witnessed in April 2021. 

In the past week, VET is up a modest 4.37% while the cryptocurrency has plunged 3.42% in the last 30 days. On the other hand, since November 2023, the altcoin is up only 0.50% which confirms that VET has been outperformed by almost every major digital asset in the market during the current cycle.