TechFlow news, May 14 — According to Virtuals Protocol's post on X, $VIRTUAL staking is now live. By locking $VIRTUAL, users will receive veVIRTUAL, the vote-escrowed token version, representing long-term commitment, deeper protocol utility, and future governance rights.
It stated that starting today, 20% of Virgen points will be allocated to veVIRTUAL holders, replacing the previous system where points were earned simply by holding $VIRTUAL. Additionally, veVIRTUAL holders are eligible for the genesis airdrop, and veVIRTUAL will serve as the basis for voting power.
How it works:
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Stake $VIRTUAL to obtain veVIRTUAL
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The amount of veVIRTUAL depends on the quantity locked and duration (up to 2 years)
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veVIRTUAL decays linearly over time until unlock
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Enable auto-max lock to achieve the maximum multiplier (1:1) for up to 2 years
Virtuals Protocol also stated: "Users who stake within 24 hours of this tweet will be eligible for a major surprise to be announced tomorrow."
