- While some users praised veDelegate’s progress, others raised concerns about the sustainability as the VeChain ecosystem expands.
- veDelegate addressed skepticism by emphasizing the endorsement system’s flexibility and the potential for economic nodes to help scale governance.
VeChain’s decentralized application veDelegate announced a major milestone in its governance journey. In a post on X, veDelegate revealed it had secured enough endorsement votes to participate in next week’s governance round officially. Several users indicated their interest in smarter governance in the VeChain ecosystem. However, some users also expressed skepticism.
veDelegate Spotlights Latest Achievement
“Exciting news: veDelegate has secured enough endorsement votes to officially join next week’s governance round!” the team shared. Highlighting their mission, they added, “We’re thrilled to take this opportunity to enhance DAO transparency and bring innovative DeFi features to the VeChain ecosystem.”
Moreover, veDelegate noted that they would shortly share details on how they reward users and contribute to governance, per the CNF report. Hence, they urged customers to “consider voting for veDelegate in the next round to help drive even more impactful changes. If you’re a veDelegate user, you can already update your voting preferences.”
The update sparked discussions among VeChain users regarding the sustainability of the endorsement system as VeChain’s ecosystem expands. One user expressed concerns about future challenges. They wrote, “As dapps grow, it will become more and more difficult to acquire endorsements. This is not sustainable going forward.”
In response, veDelegate reassured the community, clarifying that endorsement votes remain available for new decentralized applications. They noted, “Over the next few weeks we’ll likely only see more nodes joining the pool if they see there’s demand and a nice APY for them.”
veDelegate Responds To User Skepticism
Despite the optimism, the user raised further concerns about scalability and competition among dApps. They warned:
Dapps will increase over time, and nodes will likely decrease over time, or at best stay the same. At some point, as the ecosystem grows, this will become a problem. However, on the flip side, if it becomes more difficult to get endorsements, developers might look elsewhere.
veDelegate acknowledged the challenges but emphasized the system’s flexibility and potential for adaptation. “Yeah agreed that there might be some growing pains later on, but I don’t think we’re close to that point yet,” they responded.
The team also highlighted the role of Economic Nodes in the ecosystem, stating, “It’s not just X-Nodes that can endorse but also Economic Nodes, and those can still be minted. If the demand for votes would actually grow a lot, there would be extra incentive for people to mint Economic Nodes and therewith increase utility of VET.”
The governance model’s reliance on nodes and endorsements has drawn attention as VeChain scales its ecosystem. Moreover, since the team is looking forward to boosting the VET token’s utility, the VET price could benefit as well, reported CNF. As the token adoption grows in the ecosystem, so will its demand, which could lead to increased gains for the crypto.
Currently, the VET price is already seeing an uptrend, trading at $0.03255 with 2.48% gains on Friday, November 22. Moreover, in the past seven days, the VeChain token’s value has soared by nearly 31%. Whilst, the monthly gains stand at an impressive 43%.
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