Lorenzo On-Chain Governance System Launches, First Proposal Opens for Voting

Odaily reports that Lorenzo Protocol has officially launched its on-chain governance system, Lorenzo Governance, with the first governance proposal now open for voting. This proposal aims to shorten the vesting periods for six categories of tokens—Rewards, Investors, Ecosystem & Development, Team, Treasury, and Advisors—based on community demand, in order to accelerate the token release schedule. If the proposal is approved, the Lorenzo tokenomics will be upgraded from V2 to V3. Upon implementation, the total and circulating supply will immediately increase by 454.8 million tokens, representing an increase of approximately 21.66%. veBANK holders can directly participate in protocol decision-making through on-chain governance voting. The voting period for this round runs from May 12 to May 17.