Neo has formed a strategic partnership with vEmpire, a self-proclaimed new and fairer system of DAO. According to its whitepaper, vEmpire was created to highlight the centralization that can occur in supposedly decentralized systems and to aid as an effective tool in countering this. The partnership with Neo is intended to catalyze development of Neo’s NFT, GameFi, and Metaverse projects, facilitating more decentralized governance and investment within the Neo ecosystem.
vEmpire incentivizes staking of various tokens through a blend of DeFi and Play-to-Earn games. These features reward staking participation by offering a yield in two forms: vEmpire’s native token ($VEMP) as well as the token originally staked. Once tokens are staked on the vEmpire protocol, they can be leveraged to influence outcomes in projects which have deviated from the ethos of true decentralization. Thus, the users of vEmpire can establish a presence in these projects and protect against centralization.
As a result of continued collaboration between Neo and vEmpire, Neo users can anticipate applications to gravitate toward a more ideal form of decentralized governance in the future. Additionally, this partnership will create a new staking pool. NEO token holders can opt to participate in the pool, providing an additional method of earning a yield on their holdings.
Through the partnership, Neo will provide vEmpire with various levels of support to promote the protocol within the ecosystem. This support will range from grants to technical and marketing aid, as well as the facilitation of mutually beneficial relationships with other Neo projects and partners.
The full strategic partnership announcement can be found at the link below:
Written by Ryan Hasselbeck