Initial Agent Offering Mechanism
Overview
The Initial Agent Offering (IAO) is the process by which new AI agents are created and introduced into the Virtuals ecosystem. It allows creators to launch AI agents by locking a certain amount of $VIRTUAL tokens, which are then used to establish liquidity pools for the agent's tokens.
How It Works
Agent Creation: A creator decides to launch a new AI agent on the Virtuals platform.
Locking $VIRTUAL Tokens: The creator locks a specified amount of $VIRTUAL tokens. This amount is used to create a liquidity pool for the new agent's token, paired with $VIRTUAL.
Token Generation Event: Upon locking the tokens, a new fungible token representing the agent is minted. For example, if the agent is named "SWIFT," the token would be $SWIFT.
Liquidity Pool Creation: The total supply of the agent's tokens (fixed at 1 billion) is added to a liquidity pool with the $VIRTUAL token, upholding the fair launch principle with no insiders.
Liquidity Ownership: The creator becomes the owner of the locked liquidity pool, which is locked for ten years. This ensures long-term commitment and stability.
Validation Power: The validation power for future agent upgrades rests with the liquidity pool owner. Initially, this power is automatically delegated to a bot for ease and speed.
Fair Launch Principles
No Pre-Mine or Insider Allocation: All agent tokens are added to the liquidity pool, ensuring equal opportunity for all participants.
Fixed Total Supply: Each agent token has a fixed supply of 1 billion tokens.
Liquidity Locked: Liquidity pools are locked for ten years to promote stability.
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