VeChain News: GM NFT System Revamp Officially Live After Community Approval
By: bitcoin ethereum news|2025/05/11 08:15:05
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GM NFT upgrades now cost half, early donors refunded; rewards tied strictly to voting activity. High-tier NFTs require large B3TR donations; only select node holders get limited free access. VeChain has formally completed a total overhaul of its GM NFT system after community ratification of the “Restoring the GM NFT System” proposal by Datab4Dishonor. The new regulation is now in its entirety in effect on the platform after a one-month interval. https://t.co/83gTQVb8wE — VeChain (@vechainofficial) May 9, 2025 Several changes based on getting users more involved and fairer distribution of values were made in the system overhaul. GM NFT upgrade fees have been reduced by 50%, and tier progress is significantly more affordable for users. Participants who had previously invested B3TR in upgrades prior to this overhaul have already been credited for the difference themselves, with the funds being transferred over to their future tier. One of the most significant changes is the redistribution of per-week emissions. 20% of emissions from B3TR previously went to the Treasury. The allocation has been cut to 15%, leaving 5% available for a newly created GM Rewards Pool. Active voters owning GM NFTs of tier Moon and higher benefit directly from the new pool. Vote & Earn—No More Passive Gains Awards from the GM Rewards Pool are allotted in proportion to both the NFT tier and the number of proposals voted on within a cycle. This is more closely linking incentives for participation instead of passive ownership. On the side of Vote2Earn, changes were also applied. The GM NFTs no longer reward multipliers for Vote2Earn awards. Rewards are nowadays strictly tied to VOT3 token balances. For node holders, the previous advantage of being able to redeem gratis GM NFTs up to a point is preserved. Nevertheless, in order to benefit from rewards in the new GM Rewards Pool, all node holders have to vote in each cycle actively. Token holding no longer qualifies users for ecosystem rewards unless voting activity accompanies it. The update also provided an improved system by retrospectively applying all changes to prior donors. The changes in contribution records and reward qualifications were included in making the system back-compatible for those joining in early. Tier Expansion Timeline Locked Through December With Higher Donation Targets After the system overhaul, VeChain has announced in advance release dates for new NFT levels. The release of Jupiter comes in May and has a 125,000 B3TR requirement for a donation and can be had for free by holders of the Mjolnir and ThunderX nodes. Saturn comes in June and has a 250,000 B3TR requirement for a donation but can only be received for free by holders of the MjolnirX nodes. August will also see an appearance from Uranus for 1,250,000 B3TR without available upgrades for free. Neptune will come in October and require a 2,500,000 B3TR donation, while December will see Galaxy as the top tier yet, requiring an astonishing 12,500,000 B3TR. None of these final three tiers have available upgrades for free, solidifying an enhanced reward structure. Source: https://www.crypto-news-flash.com/vechain-news-gm-nft-system-revamp/?utm_source=rss&utm_medium=rss&utm_campaign=vechain-news-gm-nft-system-revamp
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