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veDAO (WEVE) is a cryptocurrency token and operates on the Fantom platform. veDAO has a current supply of 8,260,189 with 0 in circulation. The last known price of veDAO is 0.00071708 USD and is down -0.68 over the last 24 hours. It is currently trading on 43 active market(s) with $8,732.43 traded over the last 24 hours. More information can be found at https://www.vedao.io/.
What is veDAO?
veDAO is a decentralized autonomous organization (DAO) focused on creating a bridge between blockchain technology and real-world assets. This organization is dedicated to assembling a community comprised of Oracles and users who are committed to developing the necessary infrastructure to facilitate this connection. The primary goal of veDAO is to enhance trust within the blockchain sector and motivate broader engagement with it.
By leveraging the collective knowledge and resources of its community, veDAO seeks to address some of the challenges that currently hinder the seamless integration of blockchain technology with tangible assets. This initiative is crucial for the advancement of the blockchain ecosystem, as it opens up new possibilities for the application of decentralized technologies in various industries, thereby expanding the scope and utility of blockchain beyond its current confines.
Investing time and resources into understanding the workings of decentralized autonomous organizations like veDAO is essential for anyone interested in the intersection of blockchain technology and real-world asset integration. However, it's important to conduct thorough research and consider the inherent risks before engaging with any cryptocurrency or blockchain project.
How is veDAO secured?
veDAO employs a multifaceted security approach to ensure the integrity and safety of its ecosystem. This strategy incorporates elements from established protocols in the decentralized finance (DeFi) space, alongside advanced technological measures.
Firstly, veDAO integrates the Olympus DAO anti-dilution method. This method is designed to protect the value of the platform's tokens by preventing excessive dilution, which can occur when too many tokens are issued, potentially decreasing the value of existing tokens. This approach helps maintain token scarcity and value over time.
Additionally, veDAO adopts Curve's vote-escrowed model. This model allows token holders to lock their tokens for a certain period, in exchange for governance rights and possibly other incentives. The longer the lock period, the greater the voting power a user obtains. This mechanism encourages long-term holding and participation in the ecosystem's governance, while also securing the network by distributing voting power among committed participants.
veDAO further secures its platform through a dynamic rewards pool, which offers $THE rewards. This incentivizes participation and investment in the ecosystem, creating a more active and engaged community. The maximum lock period of 2 years for these rewards aligns with the platform's goal to encourage long-term involvement.
Moreover, veDAO introduces flexibility and liquidity to its governance tokens through the ability to merge, split, and sell veTHE positions on the secondary market. This feature not only provides users with more control over their investments but also enhances the security of the ecosystem by facilitating a more distributed and liquid market.
It's important for users to conduct thorough research and understand the risks associated with investing in cryptocurrencies and DeFi projects. The innovative security measures implemented by veDAO represent a significant step towards creating a more secure and sustainable DeFi ecosystem.
How will veDAO be used?
veDAO serves multiple purposes within its ecosystem, primarily focusing on enhancing user engagement and platform governance. It plays a crucial role in unstaking tokens before the end of a predetermined staking period, which is essential for maintaining token liquidity. This flexibility allows users to manage their investments more dynamically, responding to market conditions or personal needs without being locked in for the entire duration.
Governance is another critical function of veDAO, empowering token holders with the ability to participate in decision-making processes. This includes managing funds, making strategic decisions, and voting on proposals that shape the platform's future. Such decentralized governance mechanisms ensure that the platform remains aligned with the interests of its community, fostering a sense of ownership and accountability among participants.
Protection against sybil attacks is an essential security feature of veDAO. By leveraging blockchain technology, it safeguards the platform from malicious entities attempting to manipulate voting or other governance processes, ensuring the integrity and fairness of collective decision-making.
Beyond these core functions, veDAO is utilized for a variety of financial and operational activities. These include crowdfunding, facilitating the sending and receiving of tokens, paying salaries, launching new tokens, and distributing dividends. This versatility makes veDAO a comprehensive tool for managing the economic activities within its ecosystem.
The platform's involvement in the music industry, promoting mental health and well-being, and supporting charitable causes through partnerships and donations highlights its broader mission. By leveraging blockchain technology, veDAO aims to create a positive impact beyond its immediate ecosystem, contributing to social causes and fostering a community that extends its influence into various sectors.
In summary, veDAO is a multifaceted platform that combines liquidity management, governance, security, and community engagement with a commitment to social impact. Its decentralized autonomous organization structure enables a collaborative and self-governing community, driving innovation and ensuring the platform's adaptability and resilience.
What key events have there been for veDAO?
veDAO has experienced several pivotal moments that have significantly shaped its trajectory and influence within the cryptocurrency and blockchain sphere. Initially, veDAO adopted the Olympus DAO anti-dilution method, a strategic move aimed at preserving the value of its tokens against potential market dilution. This approach underscores veDAO's commitment to maintaining the integrity and value of its ecosystem for its stakeholders.
Further enhancing its ecosystem, veDAO introduced a pool with dynamic rewards denominated in $THE. This innovation not only incentivizes participation within the veDAO community but also dynamically adjusts rewards based on various factors, ensuring a fair and enticing reward mechanism for contributors.
Another significant development was the launch of a blockchain service dedicated to voting. This service empowers veDAO members by providing a transparent and secure platform for decision-making processes, thereby fostering a more democratic and engaged community.
Expanding its horizons, veDAO has also forged strategic partnerships with several companies and platforms, including Port3, MetaChain, Qitmeer Network, and YouSUI. These collaborations aim to enhance trust and security in cryptocurrency transactions, revolutionize blockchain adoption, and improve community governance. Through these partnerships, veDAO is not only broadening its ecosystem but also reinforcing its position as a key player in the blockchain and cryptocurrency domains.
These events collectively highlight veDAO's proactive approach to innovation, community engagement, and strategic partnerships, underscoring its dedication to advancing the blockchain and cryptocurrency landscape.
The live veDAO price today is $0.000086 USD with a 24-hour trading volume of $106.76 USD. We update our WEVE to USD price in real-time. veDAO is down 6.97% in the last 24 hours. The current CoinMarketCap ranking is #7539, with a live market cap of not available. The circulating supply is not available and a max. supply of 8,260,189 WEVE coins.