Reason Behind Today’s Notable Altcoin Surge Is Now Clear: Developers Will Only Get Paid If the Price Increases Fivefold

Everythingempty, one of the co-founders of the Virtuals (VIRTUAL) team, published an early-stage proposal on the X platform, bringing forward the allocation of performance-based ecosystem funding to Virgen Labs. This proposal, approved in July, includes a rewards plan based on price targets. According to the proposal, if the VIRTUAL token price reaches $10, $20, and $40, respectively, it will trigger a token allocation equivalent to 2% of the total supply to the Virgen Labs team. If all targets are met, the team will earn a total reward of 6% (60 million VIRTUAL tokens). Related News: Elon Musk Makes Bitcoin (BTC) Statement for His New App Each phase will be verified using 30-day time-weighted average price (TWAP) data from the Binance spot market and a daily trading volume exceeding $10 million. Once the target is reached, the tokens will be gradually unlocked via smart contracts at a weekly rate of 0.013% over 36 months. The proposal states that no new tokens will be minted. However, if all targets are met, the share of the DAO treasury will decrease from 34% to 28%. This will only apply if the VIRTUAL price reaches $40. According to Coingecko data, the current price of VIRTUAL is at $1.83 and the token has gained 33.9% in the last 24 hours. Chart showing the rise in the price of VIRTUAL. *This is not investment advice. Continue Reading: Reason Behind Today’s Notable Altcoin Surge Is Now Clear: Developers Will Only Get Paid If the Price Increases Fivefold