Genesis opens VIRTUAL token staking, introduces veVIRTUAL mechanism and adjusts points distribution method

Odaily News The Genesis project announced that it has officially opened the staking function of its VIRTUAL token. Users can now obtain veVIRTUAL by staking VIRTUAL, which represents the user's long-term support for the protocol and future governance rights. The amount of veVIRTUAL depends on the amount of VIRTUAL staked and the lock-up period (up to two years), and decays linearly over time.
The points distribution mechanism of the Virtuals ecosystem has been adjusted synchronously, and 20% of Virgen Points will be distributed to veVIRTUAL holders in the future. In addition, holding veVIRTUAL will also make participants eligible for the Genesis airdrop.