Illustration: Virtual Genesis Initiation
Initiation of Genesis VIRTUAL Proposal: When a user applies for the generation of a Genesis VIRTUAL, the system automatically formulates a Proposal. This first step marks the beginning of a community-driven decision-making process.
Community Involvement in Governance: The Proposal is presented to the token holders for discussion and voting.
Acceptance and Activation of the Genesis VIRTUAL Proposal: Receiving sufficient votes, the Proposal, once accepted, initiates two key actions within the system:
Creation of an On-Chain VIRTUAL (ERC-6551): This step formalizes the Genesis VIRTUAL within the blockchain, utilizing the ERC-6551 standard for robustness and interoperability.
Establishment of a Dedicated Smart Contract: A specialized smart contract is set up, tailored to govern and manage the functionalities and interactions of the new Genesis VIRTUAL.
Last updated
