PANews July 1 report, according to official news, Virtuals Protocol announces that the governance portal is now online, and the operation method is as follows: Wallets holding at least 0.10% of the total veVIRTUAL can create proposals. After submission, it enters a 72-hour discussion window, during which voting is prohibited. Once the window closes, the protocol takes a snapshot of the veVIRTUAL balance and permanently locks the voting rights of each wallet. Then, a 72-hour voting period is opened, where Virgins vote 'for' or 'against' on-chain. Voting ends, and at least 25% of the total veVIRTUAL must participate for the result to be valid, with a simple majority (50% + 1) determining the outcome, and approved resolutions are executed through the financial governance mechanism; if the quorum is not met, the proposal becomes invalid and can be resubmitted. Three in-depth discussion posts have been published, covering the first wave of proposals: 1. Establishing an ecosystem growth foundation; 2. Sniper defense and yield fund; 3. Providing performance-based ecosystem grants to Virgen Labs.
