VeChain has introduced VePassport, a groundbreaking decentralized identification system designed to bolster security and reward mechanisms within VeBetterDAO. By integrating Proof of Personhood, VePassport aims to combat Sybil attacks and ensure that only legitimate users participate in governance decisions.
How VePassport Works
VePassport is linked to a user’s VeWorld Wallet, verifying their identity and preventing malicious actors from manipulating the system. To participate in governance and earn rewards, users must meet specific criteria, including performing three or more “Better Actions” within a 12-week period.
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Sustainability and Rewards
VePassport incorporates sustainability into its reward system. Users who perform environmentally friendly actions on the chain earn “S-Proofs,” which can be redeemed for governance rewards. This incentivizes community members to contribute positively to the ecosystem.
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VeBetterDAO Updates
In addition to VePassport, VeBetterDAO has undergone several improvements. The introduction of a “Better Actions” tab allows users to track their impact and the carbon voting mechanism promotes equitable decision-making. The quorum for governance proposals has also been reduced to 30%, encouraging greater community participation.
Strengthening Governance Security
The X-App Bot and Sybil Signal System further enhance VeBetterDAO’s security. These features help identify and flag suspicious wallets, preventing malicious actors from exploiting the system. By sharing data across the ecosystem, VeChain aims to create a more robust and secure governance environment.
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Conclusion
VeChain’s VePassport represents a significant step forward in decentralized governance. By combining Proof of Personhood, sustainability incentives, and enhanced security measures, VePassport empowers users to participate meaningfully in shaping the future of the VeChain ecosystem. As VeBetterDAO continues to evolve, the platform’s focus on transparency, inclusivity, and sustainability will undoubtedly attract more users and strengthen its position within the blockchain space.
