In order to activate utility of VIRTUAL, it must be vote-locked in the manner of CRV; the vote-lock is for up to two years, with voting power linear in the remaining time to unlock. Withdrawal is only available once the lock expires, and an permalock mode is available if desired.
As usual with tokens locked for a set timespan, this exposes the token to a risk of irremediable depreciation in the meantime.
[71] = ƒ(stake_amount, price_at_stake)
stake_amount — number of tokens stakedprice_at_stake — price of one token at staking timeGeneration of voting power allows the staker of VIRTUAL to both participate in the general DAO governance and control part of the Virgen Point allocation (i.e., vote for the distribution of the VVAP portion of the regular point allocation). Governance is carried out via the forum with onchain voting.
[8] = binary
Represents governance value originating from influencing the distribution of VVAP Virgen Points and participation in steering the protocol via the DAO proposals.
[3] = ƒ([8], user_vote_allocation, user_strategy_representation)
Vote-locking VIRTUAL to obtain veVIRTUAL is grounds for reception of a proportional part of daily Virgen Points (formerly Genesis Points) allocation (at the time of writing, 20% of the emission). These points are intransferable and possessed of an expiry date (two weeks from their generation). As such, their accrual requires consistent participation in the ecosystem.
They confer upon their holder benefits in the form of opportunities to use them for accessing special offers, such as genesis supply shares of the AI projects newly launching on Virtuals or airdrops.
For each agent deployed on Virtuals, it is necessary that a VIRTUAL/AGENT pool be created, where AGENT stands for the agent token. This means that for a great number of agent tokens, the only practical (in terms of slippage and volumes) way to trade the agent token is by routing it through VIRTUAL.
[1] = ƒ(agent_token_exchange_volume)