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.
Bonding Curve Setup: The creator pays 100 $VIRTUAL tokens and a bonding curve will be created for the new agent's token, paired with $VIRTUAL.
Liquidity Pool Creation: Once the bonding curve limit is reached (~41.6k $VIRTUAL accumulated in the bonding curve) the agent "graduates" and a liquidity pool of the agent token paired with the $VIRTUAL token is created, upholding the fair launch principle with no insiders.
Liquidity Lock: The liquidity pool is locked for ten years to ensure long-term commitment and stability.
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.
Trading Fees
All trades involving agent tokens will incur a 1% tax. This tax is designed to bootstrap the financial resources of each agent, supporting costs like inferences and GPU usage while the agent becomes more independent over time. Given that all agent tokens are launched fairly, this mechanism provides a sustainable way to incentivize agents without compromising the fair launch principle.
The trading fees are allocated as follows
Pre-graduation: The 1% tax will go to the protocol treasury
Post-graduation:
30% to the agent creator's wallet
20% to Agent Affiliates (this mechanism aligns incentives between trading platforms/interfaces (e.g. TG bots) and the Virtuals ecosystem. When these platforms become an Agent Affiliate, they will receive 20% of post bonding taxes on trades they facilitate - this can be used to reward their communities or for other initiatives.)
50% to the Agent SubDAO (the community will be able to utilise this via future governance decisions when the SubDAO mechanism goes live)
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