> For the complete documentation index, see [llms.txt](https://whitepaper.virtuals.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://whitepaper.virtuals.io/about-virtuals/capital-formation-layer/60-days.md).
# 60 Days
### 60 Days founder trial for AI agent token launches
The 60 Days module is a free, optional token launch configuration. It lets founders validate market demand before making a permanent commitment.
Early-stage founders often commit capital and reputation before validating demand. Traditional accelerators, venture funding, and token launches offer limited feedback before commitment.
The 60 Days module creates a public, 60-day founder trial. Founders build publicly while users discover the product. Capital accumulates through Automated Capital Formation (ACF), token trading fees, and an optional Growth Allocation.
At the trial's end, the founder chooses whether to commit. If they commit, the token continues and raised funds unlock over time. If they do not, the token winds down and raised funds return to eligible token holders.
***
### Founder trial principles
1. **Founder sovereignty:** Founders control whether to commit or walk away. Nothing unlocks automatically.
2. **Market testing:** Demand forms through user behavior and voluntary support.
3. **Reversible token launches:** Every launch starts in a reversible state. A wind-down is an expected outcome.
4. **Founder credibility:** If a project winds down, raised funds return to supporters. The founder's reputation remains intact.
5. **Aligned risk and reward:** Supporters back progress, not promises. Founders access capital only after committing.
***
### How the 60 Days launch mechanism works
Each founder enters a 60-day public build and market-testing period.
During this period, founders are expected to:
* Build and ship product updates regularly
* Engage users and collect feedback
* Iterate, pivot and publish progress reports
* Maintain transparent metrics
* Participate in community reviews
By Day 60, founders choose one of two token launch outcomes:
* **Commit:** The project transitions into long-term development.
* **Not Commit:** The project winds down and accumulated funds enter the refund process.
***
### Token trading fees during the founder trial
All token trades incur a 1% trading fee.
* 30% is allocated to Virtuals Treasury
* 70% is allocated to the founder (Founder's Trading Tax)
The founder's share is locked during the trial period and released only after commitment. **If the founder does NOT COMMIT, this allocation is redirected to the refund pool.**
This mechanism rewards committed founders and discourages uncommitted token launches.
***
### Automated Capital Formation (ACF)
ACF is an automated funding mechanism that continuously allocates capital to founders based on market participation and trading activity.
* Released ACF funds contribute to operational runway, infrastructure, and early scaling.
* Unreleased ACF allocations remain locked and are excluded from refund calculations until formally released.
ACF lets founders raise capital progressively without traditional fundraising rounds.
Learn more in [Automated Capital Formation](/about-virtuals/capital-formation-layer/automated-capital-formation.md).
***
### Growth Allocation for token launch supporters
Founders may optionally open a Growth Allocation (GA) pool funded from the sale of tokens from their team allocation (up to 5%). Participants deposit USDC in exchange for token allocations at a fixed publicised FDV decided by the founder(s).
**GA funds are held in escrow until a commitment outcome and refunded in FULL if the founder does NOT COMMIT.**
**Growth Allocation Vesting Model**
Funds from the Growth Allocation (GA) pool are subject to a mandatory vesting period of six months, if founder(s) commit. After commitment, Growth Allocation (GA) tokens are released linearly over the 6-month vesting period.
**If a founder does NOT COMMIT, all GA funds are refunded and vesting is cancelled.** This structure protects both founders and early supporters from short-term speculation.
***
### Founder stipend during the 60-day trial
To support founders during the 60 days, founders are provided a stipend. After every 30 days (Day 30 and Day 60), founder(s) will obtain a stipend of either 10% of the presently collected funds (from trading tax revenue and released ACF) capped at a maximum of $5,000 USDC.
**Example:**
Day 30 Calculation:
* Total collected funds from Founder's trading tax revenue and any released ACF: $35,000 USDC
* 10% calculation: $35,000 x 0.10 = $3,500 USDC
* Cap check: $3,500 < $5,000 maximum
* Founder stipend paid: $3,500 USDC
Day 60 Calculation:
* Total collected funds from Founder's trading tax revenue and any released ACF: $58,000 USDC
* 10% calculation: $58,000 x 0.10 = $5,800 USDC
* Cap check: $5,800 > $5,000 maximum
* Founder stipend paid: $5,000 USDC (capped)
***
### 60-day founder trial outcomes
#### Founder commits at the end of Day 60
Founders may commit at any point during the 60-day trial. Early commitment is permitted after sufficient traction and validation.
If a founder commits:
* Founder trading fee allocations are released immediately to Founder Wallet
* Released ACF funds are unlocked
* Growth Allocation (if any) vesting schedules begin
* Participants of the Growth Allocation obtain tokens
* Long-term infrastructure and distribution support is activated
* The project transitions into sustained development
Commitment signals readiness for long-term execution and accountability.
**Growth Allocation distribution mechanism**
Allocations are distributed proportionally based on each participant's contribution to the Growth Allocation Pool. If the pool is oversubscribed, allocations will be pro-rated and any unused USDC will be automatically refunded.
**Pro-rated allocation calculation**
Personal Token Allocation = (Personal USDC Committed / Total USDC Committed) x Available Pool Size
Personal USDC Used = Personal Token Allocation x Fixed Token Price
GA Refund = Personal USDC Committed - Personal USDC Used
**Example:**
Available Growth Allocation Pool: 50,000 tokens
GA Token Price: $0.20 USDC per token
Maximum Possible Raise: 50,000 x $0.20 = $10,000 USDC
Total USDC Committed by All Participants: $15,000 USDC
Alice: $5,000 USDC committed | 25,000 tokens requested at $0.20
Bob: $4,000 USDC committed | 20,000 tokens requested at $0.20
Carol: $3,500 USDC committed | 17,500 tokens requested at $0.20
Dave: $2,500 USDC committed | 12,500 tokens requested at $0.20
Total: $15,000 USDC | 75,000 tokens requested
Since participants requested 75,000 tokens but only 50,000 are available, the pool is oversubscribed by 150%.
Alice: 33.33% | 16,667 tokens | $3,333 used | $1,667 refund
Bob: 26.67% | 13,333 tokens | $2,667 used | $1,333 refund
Carol: 23.33% | 11,667 tokens | $2,333 used | $1,167 refund
Dave: 16.67% | 8,333 tokens | $1,667 used | $833 refund
***
#### Founder does not commit by the end of Day 60
* The trial period ends
* The liquidity pool is drained
* Token issuance is wound down
* Refund mechanisms are triggered
* Accumulated funds are distributed to eligible holders
The project closes within the 60 Days framework. No further capital is released.
**Token holder refund mechanism**
If a founder does not commit, remaining funds are distributed to eligible token holders from the accumulated fund pool.
The accumulated funds come from three sources:
Accumulated Funds = Released ACF Funds + Founder Trading Tax + Remaining $VIRTUAL in LP
Founder Trading Tax = 70% of the 1% Trading Fees Collected
**1. Refund from Released ACF Funds and Founder Trading Tax**
Refund = (Your Token Holding / Eligible Holdings) x (Released ACF Funds + Founder Trading Tax)
**2. Refund from Liquidity Pool ($VIRTUAL)**
Refund = (Your Token Holding / Eligible Holdings including Pre-buy) x Remaining $VIRTUAL in LP
**Eligible token holdings**
Only the following balances are included in refund calculations:
* Tokens purchased through public token launches
* Ecosystem airdrops held until the snapshot
**Token holdings excluded from refunds**
* Team reserved tokens
* Unreleased ACF allocations
* Tokens from Anti-Sniper tax buyback
Tokens obtained from Pre-buy are only eligible for refunds from the liquidity pool portion and DO NOT obtain refunds from ACF or trading fee refunds.
**Important token holder refund notes**
Refunds are distributed proportionally based on relative ownership at the snapshot time.
Because fund balances may change during the 60-day period, full refunds are not guaranteed.
Please review project details and risks before participating.
**Refunds are dependent on available funds and are not guaranteed to be full.**
---
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