VeChain Demonstrates Blockchain Benefits With 5.2M Wallets Earning Weekly Rewards

• VeChain’s VeBetter DAO has verified 48 million actions on more than 50 apps, and 5.2M wallets can now earn B3TR every week.
• VeChain’s B3TR guide details app rewards, Vote2Earn, and GM NFT incentives tied to verified onchain sustainability actions.

VeChain has presented fresh data from its VeBetter ecosystem, showing that more than 5.2 million wallets now earn B3TR rewards each week. The update also said users have completed over 48 million verified actions across more than 50 live apps. The figures point to the network’s reward model as the force behind VeChain’s growth in recent months.

The VeChain Foundation also released a new B3TR token guide to explain how the system works. The tutorial arrived as activity on VeBetter continued to rise across sustainability-focused applications. It outlined how users can earn rewards, join governance, and use tokens within the ecosystem.

VeBetter distributes B3TR through three weekly reward channels. The first is the X-Allocation Pool, which gives tokens to users who complete verified actions through supported apps. These actions include recycling, electric vehicle trips, and eco-friendly purchases.

Earlier, CNF reported on VeChain integrating social login functionality into VeWorld to make wallet creation easier for new Web3 users. The update lets users access VeWorld through familiar sign-in methods.

VeBetter Rewards Boost VeChain Adoption

The second reward channel is Vote2Earn. Users must convert B3TR into VOT3 at a one-to-one ratio before joining governance rounds. After that, they can vote on weekly token allocations for supported apps and receive rewards based on their VOT3 balance at the snapshot.

GM Rewards Pool is the third reward channel. This pool sends 5% of weekly emissions to Galaxy Member NFT holders who vote during allocation rounds. Participation is mandatory to receive the tokens, and holding the NFT alone does not unlock rewards.

There’s also a compounding feature for GM NFT upgrades that lets users spend B3TR to raise their NFT tier, which increases their reward share when they vote. 

When users receive B3TR, they have several options: convert it to VOT3 for governance access, upgrade a GM NFT, trade it on exchanges, or hold it. These options give users diverse ways to remain active in the ecosystem.

VeBetter users need a VePassport to qualify for governance rewards, which they can claim by completing at least three verified actions in a 12-week period. VOT3 balances are counted at the start of each round, but VOT3 received from other wallets cannot be converted back into B3TR.

Another feature is the auto-voting system, which simplifies the process for the user. Under that option, a relayer handles voting and reward claims for a 10% fee, capped at 100 B3TR per week.

Last month, we covered the VeBetterDAO update that introduced an Activity Feed for tracking ecosystem developments in one place. 

B3TR traded at $0.01000 at the time of the update, after a 5.84% 24-hour gain, with a 24-hour trading volume of $589,800.