OUR GROWTH PATH
Governance
The scalability of a blockchain is directly linked to its governance model. Our adaptable and efficient platform is made possible by our governance structure that models this behavior and is being continuously fine-tuned. We are implementing principles derived from unconventional models – such as DAOs – successfully utilized in other fields to progressively decentralize the VechainThor blockchain platform and render ecosystems more efficient. As one of the most open and transparent public blockchains, another of our differentiating qualities is our commitment to regular reporting and compliance. Just like the transition to a more sustainable world is a journey, so is the improvement of our governance model. Our goal: to enable rapid innovation and development, while meeting the needs of users, the community, fast-growing enterprises, and serving sustainability.
The steering
Committee
Transitioning towards sustainable governance is imperative to our mission and oversight is provided by the Steering Committee, which is elected publicly by nodeholders. The governing body of vechain, our Steering Committee, oversees various functional committees and represents the balanced interests of all VechainThor blockchain stakeholders.
Through the election process, we strive to promote member diversity, and thus to benefit from their diverse perspectives. The Steering Committee constitutes a first step toward decentralization. As we progress, so will the decision-making process, becoming ever more distributed among Biosphere participants.
Economic Model
The sustainable two-token economic model (VET and VTHO) behind vechain has been designed to develop a non-volatile trading environment, different from most single-token economic models, where the vechain governance mechanism also serves to stabilize token costs.
This model is unique and significant in helping separate the cost of using blockchain from market speculation: incentive and utility are distinct concepts, facilitating upgrades and greater functionalities.
What’s more, the differentiation between VET – our utility token – and VTHO – the token used for incentive and payment – also permits straightforward costs, which takes out the guesswork.
This mechanism facilitates enterprise adoption and generates user acceptance. Maintaining a balance between the two tokens is important, and we are working to calibrate their functionalities in the better interest of all users.
Task Force
As we endeavor to address such a broad range of societal and industry needs, we’ve developed specific task forces to allocate resources where they are needed most, and in turn capacitate expedited growth. By focusing our efforts and leveraging resources scattered around the globe, we are building momentum through a common passion in carrying out our mission for a better world.
Our main task forces are dedicated to Technical, Business Development and Governance. They provide specific expertise, yet they all work closely together to benefit both their individual areas and as a whole. Our efforts are always catapulted thanks to our ever-growing community’s contribution.
