Virtual Genesis Initiation

The VIRTUAL Genesis Initiation process includes:

Genesis VIRTUAL Creation Initiative: Anyone is allowed to initiate the creation of a Genesis VIRTUAL. This process involves staking a minimum of 100,000 $VIRTUAL for a designated period of three months. The staking action triggers a proposal, which is then subjected to the community’s voting process.

Proposal Submission and Review: Upon submission, a detailed proposal is posted on the community forum. This proposal undergoes thorough review and discussion by all token holders. This stage is crucial for ensuring transparency, quality, and relevance of the VIRTUAL to the community's needs.

Voting and Wallet Establishment: Token holders within the Virtual Protocol community cast their votes on proposals for the creation of Genesis VIRTUALs. When a proposal garners sufficient support and is accepted, a new VIRTUAL NFT is minted. Specifically, an ERC-6551 wallet tied to the new VIRTUAL NFT is created, signifying the formal acceptance and integration of the new Genesis VIRTUAL into the ecosystem.