- VeChain is innovating again with a new incentive scheme to attract developers.
- The initiative is designed to add value to all stakeholders and the VET price.
VeChain Builders, a platform empowering innovators to build a sustainable future with VeChain, has announced key updates to its reward system. The upgrade will see authentic VeChain developers receive Non-Fungible Token (NFT) certificates and VET tokens as rewards.
Exciting Rewards for VeChain Builders
According to VeChain, the incentives are limited to developers working through the VeChain Builders Academy course or participating in its university workshops. These developers can qualify for the May season’s $3,000 reward pool and receive a Completion Certificate NFT airdropped directly to their VeWorld wallet.
However, only developers who have completed all four modules of the course will be eligible for the rewards. They must also submit the GitHub repository, the deployed contract URL on Testnet, and the VeWorld wallet address.
The VeChain Builders team will manually review all submissions to ensure they are original. Verified submissions will receive an NFT certificate, and only those are eligible for rewards at the end of the season.
Developers starting at a basic level also stand a chance to enjoy VET rewards. However, they must complete at least 50% of the course and submit their own Buy Me A Coffee dApp smart contract on testnet.
The upgrade to VeChain developers’ reward system comes barely a month after VeBetterDAO EVearn platform updated its reward system for Tesla drivers. As indicated in our earlier discussion, EVearn demonstrates VeChain’s transformative potential in the automotive ecosystem. The latest update allows Tesla drivers to earn crypto rewards for sustainable charging.
VeChain also unveiled a new payment card called the B3TR debit card in March. Although the card is still developing, it aims to facilitate and remove the problems of transacting with digital currencies. As highlighted in our previous article, the card supports VeBetterDAO’s mission to reward real-life actions like recycling and meditation with usable financial incentives.
Before debuting the card, VeChain rolled out its Renaissance project, a significant shift in its blockchain environment. In a recent study, we reported that the project aims to enhance tokenomics by requiring users to stake VET for rewards.
VET Price Explodes 35% Higher
The price of VET, the native token of the VeChain blockchain, is on a bullish roll lately, increasing by over 35% in the past month. VET is profiting from the overall bullish sentiment in the VeChain ecosystem. In the last 24 hours, the price of VET increased by 2.9%, setting the price at $0.029.
The increase in the price of VET also coincides with a broader market rally. With Bitcoin crossing over $103,000, profits continue to be redirected to skyrocketing altcoins.
Aside from the current positive sentiments, updates to VeChain blockchain technology and expanding use cases have boosted VET’s recent price increase.
