Lorenzo on-chain governance system goes live, first proposal opens for voting

Odaily 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 needs, in order to accelerate the token release pace. If the proposal passes, the Lorenzo tokenomics will upgrade from V2 to V3, immediately increasing the total supply and circulating supply by 454.8 million tokens, an increase of approximately 21.66%. veBANK holders can directly participate in protocol decisions through on-chain governance voting, with the voting cycle running from May 12 to May 17.