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AI Agent Token VIRTUAL Rallies to Multi-Month High

Virtuals Protocol continues to roll out updates to its AI agent token launch platform.
By: Leo Jakobson
Virtuals Genesis update cover image

Virtuals Protocol’s native token VIRTUAL broke over the $2 mark for the first time since late January yesterday evening, May 8. Interest in the AI agent platform and its token has surged as it continues to roll out a series of updates to its Genesis Launches system this month.

VIRTUAL is up just over 8% in the past 24 hours, now trading near $1.91. The asset is up a strong 300% over the past 30 days, as the AI agent token sector continues to boom. VIRTUAL’s market cap is up to $1.2 billion, its highest level since January.

the-defiant
VIRTUAL price over 3 months. Source: CoinGecko

Launched on Ethereum Layer-2 (L2) Base in mid-April, Virtuals Protocol’s AI agent token launch mechanism, Genesis Launches, has continued to roll out regular features and updates since its debut.

Earlier today, May 9, the AI agent protocol released a new feature for Genesis: a “Lock Status.” The feature is a visual display of three different lock statuses for tokens launched and traded via Genesis, in an effort to ensure transparency and build trust.

On May 8, Virtuals also announced an update to the launchpad: a “one-time TP cooldown reset” for every “Virgen” — what Virtuals community members call themselves, a mashup of Virtuals and degen. The TP (or take profit) cooldown mode refers to a temporary block on earning points on the platform. The cooldown is triggered when Virgens take profits on their Genesis token allocations.

Genesis issues points for active participation in the Virtuals ecosystem. Genesis token launches allocate 37.5% of presale tokens to points-holders on a weighted basis. Depending on the number of points pledged, each participant can be allocated up to 0.5% of the total token supply

The project said the cooldown reset was a gesture of thanks to “every Virgen and developer who has been part of shaping Genesis,” and that the TP Cooldown feature, which was first launched on May 2, was still active and would continue to function as usual after the reset.

No point farming

The two most recent updates follow others earlier this week. On May 7, Virtuals announced that it was tightening up its points system to prevent point farming through wallet-hopping, in which profit takers move points to different wallets to bypass TP cooldown periods.

“Moving assets between wallets to bypass Take-Profit cooldowns will now trigger cooldowns across related wallets,” Virtuals said on X. “This ensures all participants engage on equal terms.”

In addition, developer wallets have been stripped of their points and developer-linked wallets will not accrue them going forward.

Our articles are stored on Filecoin.

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