Virtuals Protocol launches governance portal and announces three initial proposals.

According to the Gate News bot, the official message states that the VIRTUAL Protocol has officially launched its governance portal. According to the governance rules, users holding at least 0.10% of the total veVIRTUAL have the right to propose. Each proposal has a 72-hour discussion period during which voting is not allowed. After the discussion period ends, the protocol will take a Snapshot of the veVIRTUAL balances to determine the voting weight of each Wallet.

The voting phase lasts for 72 hours, and Virgens can vote in favor or against on-chain. Two conditions must be met for the proposal to pass: the total amount of veVIRTUAL participating in the vote must reach over 25%, and it must receive more than half (50% + 1) support. The approved resolution will be executed through the financial governance mechanism. If the quorum is not met, the proposal will fail but can be resubmitted.

Currently, detailed discussions have been published for three initial proposals: establishing an ecosystem growth foundation, sniper defense and revenue fund, and providing performance-based ecosystem funding to Virgen Labs.